Correct Invoice Date

T.C.
T.C. Registered, Tutor Posts: 1,448
If a customer pays in advance for a product, should the invoice be dated on the date of the payment or the date of the delivery of the product???

Comments

  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    T.C. wrote: »
    If a customer pays in advance for a product, should the invoice be dated on the date of the payment or the date of the delivery of the product???

    You must normally issue a VAT invoice (to a VAT-registered customer) within 30 days of the date you supply the goods or services - or if you were paid in advance, the date you received payment.

    http://www.hmrc.gov.uk/vat/managing/charging/vat-invoices.htm#4

    Therefore because payment was received before the goods left the supplier (the date the customer actually receives the goods is irrelevant) the invoice needs to be dated within 30 days of the payment in advance.
  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    Thank you! :001_rolleyes:
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    T.C. wrote: »
    Thank you! :001_rolleyes:

    Pleasure!
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