Because of his very sophisticated admin-system, my customer doesn’t want me to send an invoice for services rendered. Instead he wants to send me a credit note which he will pay within 14 days. Does anyone have an idea how to best handle this in Manager. I do want to properly appear this turnover o…

i am not sure this would be legal in any manner. i am not really good with accounts so this is just my opinion. without an invoice you cannot contribute to your turnover. a credit note received will be considered only as a subsequent transaction related to a previously invoiced transaction. also, …

My bet is either he does not want to pay vat or unless I’m wrong. in Malaysia he have threshold limit where once the business’ sales reach RM 500,000.00 the business entity have to registered for gst in your terms called vat. if not. then the customer you mentioned might be government agency?

This seems to be more of a legal question than an accouting one. Your customer’s credit note could be entered in Manager as a debit note. Debit notes do not need to be allocated against specific invoices. They will just drive Accounts payable in the opposite direction from normal. But a negative Ac…

Not sure where you are but it sounds a like you are talking along the lines of a ‘Recipient Created Tax Invoice’ which is an agreement I have with a couple of national companies I do warranty work for. Google may help if that is the case.

[image] VACUUMDOG: Not sure where you are but it sounds a like you are talking along the lines of a ‘Recipient Created Tax Invoice’ I don’t think so, @VACUUMDOG . Recipient created invoices are still invoices. They differ only because two companies have agreed the seller will consider an invoi…

[image] Hennie: Does anyone have an idea how to best handle this in Manager. Thanks for your ideas Create the invoice so Manager is correct and print it. Replace the word Invoice with Credit Note and send it. However, an invoice is a demand for payment, receiving a credit note is not a dema…

Sending a credit note, regardless of whether it is just a relabeled sales invoice, would be wrong, in my opinion. No matter what the sophisticated admin-system customer believes, a credit note is well understood in accounting to record a reduction of the amount owed by a customer to a supplier. Circ…

Hello everybody, Some of you understood me wrong. My customer is sending me a creditnote instead of me sending him an invoice. In Australia they call it a “Recipient Created Tax Invoice”. I’m living in the Netherlands and this is what EU-law says about this phenomenon: EU regulations concerning in…

Thanks for the quotation, @Hennie . My interpretation would be that your customer’s issuance of a credit note would not meet the requirements because it would be issued in the name of your customer, not your name as the taxable person. The rule says “…in his name and on his behalf…” [emphasis added],…

[image] Hennie: It is the first time in my very long career that I run against this phenomenon. “Recipient Created Tax Invoice” is widely used in the publishing and agriculture industries. This is where the quantity and/or the value of a sale is unknown until a future date, in that, the Cust…

Reverse invoicing

mustagab April 9, 2018, 3:54pm 19

Please read in connection with my below topic.

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Credit invoice VAT	4	341	November 14, 2020
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Reverse invoicing

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