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Old 05-22-2015, 05:38 AM
scstock scstock is offline
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Prompt Payment Discounts

So what is everyone doing with regard to accounting for Prompt Payment Discount with the change in the rules since April?

QB2015 suggests that you create a Credit each time you receive a payment, rather than writing off the under-payment as "Discount". This seems very tiresome. Surely as long as HMRC get the VAT on the pre-discounted price that satisfies their requirement?
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Old 06-08-2015, 05:25 AM
scstock scstock is offline
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88 views, no thoughts?
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