The situation is this:
Client charges Management Company £75,000 + VAT for appearance fee.
Management company pay £89,825.02 in total as they deducted £174.98 for clothing costs that they had purchased on behalf of the client.
My invoice is of course £75,000 + VAT but now I have £174.98 outstanding on the management company's customer account.
What's the correct way of getting rid of this amount? I do not want to put it through the bank as no physical money was transferred between the parties bank accounts. I also do not want to do a credit note as there is nothing to credit against the clothes account and I also do not want to change the invoice.
Unfortunately, I did not create a proper service invoice within Sage. This would have allowed me to add a discount in the first place. Instead I created a batch customer invoice. I've also run the VAT return for the period this relates so I cannot even delete the invoice and re-do one with the discount as this would screw the VAT records up.
Any suggestions would be greatly appreciated.
- Limited company buying a car 141 4
- Goodwill omitted from first years accounts 259 15
- Buying Microsoft's Surface Pro 3 458 10
- Straightforward email correspondence or PDF letter attached to blank email? 545 6
- Course costs for retraining as a barrister 168 7
- Travel and Subsistence expenses while abroad 286 4
- How to post Sales figures in Sage50 Accounts (we use separate Sales ledger) 107 2
- ACCA practice certificates 492 5
- Limited company buying director's car 286 10
- Question on HMRC past taxes (+penalties) on non-resident 74 1
- Is it possible to change a client's trading address for Vat purposes online 93 1
- WC's and capital allowances 172 3
- Entrepeneurs relief 302 13
- Dress code 1,545 36
- Which company is best for online new company formation? 479 13
- CTA and Tolley's tax handbooks 256 6
- HMRC Seminar on Penalties - Did you last the course? 377 4
- CIC Tax - what is trading? 472 23
- What is the status of "Whistleblowing" these days - do you get rewarded? 185 4
- Loan Repayment on Invoice 105 3
- CTA study material 769
- Anyone have clients that use Pay4Later to offer customers credit? 479
- Raiders of the Lost Tax File 396
- Employment related securities question 308
- AIM Stocks and IHT 279
- Tax Relief for overseas employees 257
- Expat pension contributions? 255
- Trust for Employee 236
- Service Charge Accountant Career Options 175
- IPP (International Pension Plan) income 147