Time of supply or tax point

Hi Fernando - This is one of those issues where the company waits for users to suggest and vote for an idea or improvement. I have to say that in my business and that of the majority of my clients the invoice date = the tax point.

The other aspect is that whilst I agree with you, for full VAT compliance CB would incorporate this feature; to have a spare box on an invoice that only a small % of users will need a few times a year, just creates more clutter making the system less attractive to newbies.

Not perfect I know but at least there's a workaround.

Cheers Paul

Thanks Paul, that makes a lot of sense. It is a pity ClearBooks is not prepared for this basic requirement. I thought they were a British company...

Very correct, I was coming at it from a completely different angle.

Hi Fernando - sorry to Kevin but I don't think the accrual date will help here as it's purely an internal accounting date and doesn't effect the invoice being sent.

You are right, Clear Books works on the tax point being the invoice date and so if your time of supply was 30 April, but you are not sending the invoice till a month later then you must set the invoice date to 30 April, in order for CB to handle the VAT correctly. In such a case if I wanted to show an invoice date now with a tax point amonth ago, I'd change the name of Invoice date to Tax point and use say the manual reference field as the invoice date.

You do this in Settings > Invoice themes and when editing the theme you are using go for the labels tab and change them as follows:

You could actually set up a theme just for this to save you having to do it on every invoice, depends on the numbers.

If you didn't want to mess with the theme then just use say the Summary box in the invoice to note the "Document date"

Thanks.

https://www.clearbooks.co.uk/support/guides/money-2/how-to-set-accrual-dates/