Turnover Threshold

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Definitions
Cash Accounting
Cash Accounting Cash-Flow Accounting Value-Added Tax (VAT) Taxable Person Financial Transactions Bad Debt Relief Turnover Threshold
Cash accounting is an accounting method where transactions are recorded only when cash is received or paid. This system differs significantly from accrual accounting, which records transactions when they are earned or incurred. Cash accounting provides a simplified approach to managing VAT liabilities for eligible businesses.
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