Late payment of commercial debts

Holly
Holly Registered Posts: 16 New contributor 🐸
in General accounting discussion
Hi all,

Has anyone had any experience of calculating the percentage of creditor payments paid within agreed terms?

We need to disclose this in relation to The Late Payment of Commercial Debts Interest Act 1998. Does anyone know whether we have to include invoices which have been in dispute (and have subsequently taken longer to pay?).

Thanks in advance :)

Comments

  • jamesm96
    jamesm96 Registered Posts: 523
    I'm afraid I've not done it before but, given that nobody's replied yet, I'll give my two-penneth...

    If it's a free-form note, could you include both versions of the calculation? (Both including and excluding disputed items)?

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