Has anyone got any experience of turning off unrealised VAT and how to handle unpaid open invoices?
We've set up the functionality and are happy with how it is transacting, however, the limit will soon be reached where it needs to be turned off and normal accrual VAT will be used. I know how to turn the functionality off but when testing this it no longer realises the VAT from older open invoices that have Unrealised VAT against them.
I was hoping that when turned off it might still recognise the unrealised VAT on those outstanding invoices when they were paid. I'm not sure how to handle the outstanding invoices and their unrealised VAT. I was hoping there would be a function or a report to allow you to recognise the VAT once switched over but I can't see anything.
Any help gratefully received.
PS I am the partner with 20+ years experience but never experienced this scenario before and hoping someone else has.
