It wasn't a particularly large job, c10k. The reason for the stage payments was because the buyer was a start up company with no credit history and the manufacturer wanted to limits its risk.
I have done a bit more digging and there appears to be nothing written down - with the payment schedule having been agreed over the phone.
However I have a little more clarity on billing. The payment was based on a proforma invoice raised in Jan, the 2nd invoice wasn't a proforma and was raised at start of March, paid start of April and the 3rd invoice was raised at the end of April and paid mid May.
Re CA2001 5(6)(b) - from what I can see the payment schedule has been dictated by the manufacturer and therefore wasn't done by the buyer to benefit having the charge in an earlier period.
From my research none of the cloud solutions mentioned seem to have good stock control/reporting/management which is why they have been ruled out, even with add ons which can be purchased.
As a little background the company has c30 raw materials in multiple locations, most of which have relatively short expiry dates, 4 finished good skus and a fair bit of complexity. They also need a system that can integrate with EDI.
The two packages which seem be be able to handle what they need are Quickbooks Premier and Sage 50 - as far as I can see none of the cloud solutions come close to offering that sort of level of package and are more aligned with the lower level packages available from sage and quickbooks. Happy to be corrected on that if I mistaken.
My answers
Thank you for the replies
It wasn't a particularly large job, c10k. The reason for the stage payments was because the buyer was a start up company with no credit history and the manufacturer wanted to limits its risk.
I have done a bit more digging and there appears to be nothing written down - with the payment schedule having been agreed over the phone.
However I have a little more clarity on billing. The payment was based on a proforma invoice raised in Jan, the 2nd invoice wasn't a proforma and was raised at start of March, paid start of April and the 3rd invoice was raised at the end of April and paid mid May.
Re CA2001 5(6)(b) - from what I can see the payment schedule has been dictated by the manufacturer and therefore wasn't done by the buyer to benefit having the charge in an earlier period.
There wasn't a written contract. The verbal agreement was for the 3 invoices to be raised and paid over the length of the tool being made.
From my research none of the cloud solutions mentioned seem to have good stock control/reporting/management which is why they have been ruled out, even with add ons which can be purchased.
As a little background the company has c30 raw materials in multiple locations, most of which have relatively short expiry dates, 4 finished good skus and a fair bit of complexity. They also need a system that can integrate with EDI.
The two packages which seem be be able to handle what they need are Quickbooks Premier and Sage 50 - as far as I can see none of the cloud solutions come close to offering that sort of level of package and are more aligned with the lower level packages available from sage and quickbooks. Happy to be corrected on that if I mistaken.
no link
between them except at a very high level ie they are both in manufacturing but specific industry and customer base are different
thanks for the links
It looks to my reading that they are probably separate trades. From BIM70535
one activity is so different in nature from the other that it can be seen as quite separate; and
One activity is sales consultancy, the other is product development - to me that seems quite separate
the activities are separately organised and managed right up to Board level.
As it is the director who is providing the consultancy, the work in my view is also seperately organised and managed up to Board level.
But maybe I am just being a catious old accountant