I submitted an invoice which has been queried by the client, As a result a new invoice has been raised. What is the best way of dealing with this on the system; just amend the original invoice or create a new one, if the latter what do I do with the old one?
Really, it’s up to you. Some people prefer to amend the invoice and re-send it, some prefer to credit note the original one and start from scratch.
As long as your client also has a copy reflecting what you’ve done, it should be fine. For example, if you issue a credit note, ensure they also have a copy of the credit note so they know the original invoice is no longer outstanding.
Hope that helps!
They have asked me to resubmit the invoice with the correct amounts included. So just updating the old one and re sending should be ok (would this be retaining the old date? The original invoice was in the last VAT period, but this will mean I will need to make adjustments when the current VAT period is completed.
I would keep the invoice date as it is as this should reflect when the work is complete.
Regarding the VAT query - are you on cash or accrual accounting? If you’re on accrual accounting, has the VAT return been submitted for that period?
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