Toby
silly I’m confused
Toby February 22, 2012 06:39

Payment date vs Invoice date (on invoices!)

My accountant tells me that for invoicing purposes I should use the 'payment date' rather than tine 'invoice date', is that right?

When I raise an invoice, I may raise it at the end of the month, say 25th Feb for the work done in Feb. The company may not be paid against this invoice until say 30 days later. What date should I use for accountancy purposes (ie reporting VAT).

It's more complicated because in FreeAgent, the date field used seems to be in the 'invoice date' but my client actually sends me a remittence slip with the payment date on it. It's NOT a self billing agreement but still the accountant will only accept that (payment) date. That means going in and modifying FreeAgent's invoice to reflect the payment date as invoice date. Complicated enough for you!?

Any suggestions or comments?

Cheers,
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