If you are paying your sales tax by invoice date - the payments will not affect your liablity. ie you owe the whole amount of sales tax as of the date of the invoice. If you are paying sales tax as of the time of payment. You will owe sales tax at the time you receive payment.
Since you are using progress invoicing, the sales tax would be come due at the time of the invoice. If you are just receiving payments, you would receive payments (as you would with any customer, and not invoice until time of completion. You would just need to make sure that your preference for sales tax due date is set to Invoice date, not time of payment.
- If you need clarification, ask it in the comment box above.
- Better answers use proper spelling and grammar.
- Provide details, support with references or personal experience.
Tell us some more! Your answer needs to include more details to help people.You can't post answers that contain an email address.Please enter a valid email address.The email address entered is already associated to an account.Login to postPlease use English characters only.
Tip: The max point reward for answering a question is 15.
No. In invoice factoring setting, the 85% is released within 24 hours of invoices being processed, the remaining 15% is held until the invoice is paid in complete and is then released on your customer, much less a small agreed fee.
Big companies increasingly stretch invoice payment from 30 days to 90 days or longer. This puts small operations in a bind because their employee salaries, vendor payments, and taxes are due whether the customer pays or not. The solution for many businesses is factoring. Sell your accounts receivable at a discount and get immediately paid. You get the cash flow you require to meet current working expenses without incurring debt.
If you have already closed the invoices and cannot void them, then you need someone to adjust their date in the database. If you can void them, then change the date of the computer to the date you want on invoice and reenter invoice. This can't be done if it was a credit card sale however. Don't forget to change back the system date. The first solution involves several tables in database and should only be attempted by someone familiar with SQL and RPE database. I could help. email@example.com Please return and give me a favorable rating if this helps or is of value to you. Feel free to email me with more details if need be.
Open the apply payments window and choose the customers name at the top. Click next to the invoice that you want to pay and then at the bottom of the screen look for the button that says discounts and credits. Click on it and then choose credits. The credit should be listed there to apply to the invoice. If you have tried these steps
I am currently using the basic version online which may be a little different from your version. With in my version I am able to do that by editting the clients information and then selecting the terms under the section named clients billing information.
once you attempt to type it in you have the option to <<add new>>
I hope this answers your question. Thank you for visiting FixYa for your solutions.
PS - Please be sure to leave positive feedback :0)
Go to Edit>Preferences, in the new window, in the left hand column scroll down to Sales and Customers.
Select Company Preferences, make sure at the bottom of the window the box "Automaticaly Apply Payments" is not checked (no tick or cross in the box)
Under Creat Statements, change your "Statement Period" dates to include last months invoices for the rent. Once you have don that, and picked your customer to send the invoice to, then click on preview. This should show you the statement and should have the right charges on it if they were invoiced.