Settlement discount and VAT
might be a silly question... Is there any legislation in place which dictates the settlement terms that can be offered by a company? Does it have to specify x number of days from invoice date or can settlement discount still be taken for example 30 days after end of month? I am asking this as Sage have said that we can only offer settlement discount using the x number of days after invoice date and cannot use 30 days after end of month due to legislation. I haven't seen this in writing anywhere, but just wondered if anyone has? I think Sage are incorrect, but wanted to make sure before I corrected them!