I have started to receive commission - we have a self-billing agreement in place. The commission is gross amount . I then pay the VAT part of it to the HMRC. However, normally I would invoice the client - they would pay and I would tag in QF - that would also then be included in my VAT return on QF too. As I don’t need to send an invoice I am not sure how to capture in QF so that my accounts are up-to-date and the VAT return amount is right. Advice welcome. I know it will be easy I am just not sure how best to do it!
So can’t you create an invoice for the commission Inc vat? Unless I’m missing something.
No, exactly my issue - the self-billing agreement states that no sales invoice will be sent to the company providing the commission.
Yeah but that doesn’t stop you creating one in quickfile so you can log the payments…
The agreement just means you cant issue one to them. But for the sake of recording a payment in quickfile you would treat their self billed invoice as if you had invoiced them.
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