Futrli Predict Update – Cash based VAT / GST

An update brought to you by Futrli Predict

Many of our users have asked us to extend the Predict VAT / GST calculation schemes to include Cash based as well as Accruals based.

It’s now live.

Paying VAT or GST on a cash basis is common, and manually calculating tax payments is really difficult – given the variability in invoices or bills being paid.

Predict now automates the calculations needed to ensure accurate VAT/GST payments if you are on the Cash scheme. Actuals and predicted are combined, just as your accounting package would, with future liabilities newly calculated, daily.

How?

Put simply with the Cash Accounting Scheme you:

• Pay tax on your sales when your customers pay you

• Reclaim tax on your purchases when you have paid your supplier

So..for predictions:

• Predict will pay tax on sales when they are predicted to be paid

• Predict will reclaim tax on your purchases when they are predicted to be paid

• Predicted VAT/ GST liabilities are the most accurately calculated predictions, globally today.

• You (or your clients) are never caught out.

What else is being worked on?

Check it all out in their public product roadmap now!

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