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    scottglenn's Avatar
    scottglenn Posts: 2, Reputation: 1
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    #1

    Aug 8, 2008, 04:48 PM
    Invoice Date or Actual Date
    Is it proper to post payment requests by the invoice date or by the actual date? I ask because if you post by invoice date, you never have a hard close. What if you get an invoice in September for a July invoice date? As long as it is in the same fiscal year, does it matter?
    peter01's Avatar
    peter01 Posts: 3, Reputation: 1
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    #2

    Aug 8, 2008, 05:01 PM
    It is appropriate to post all invoices by the received date, not the actual written date. This will keep all mtd , qrtly, and ytd totals accurate for forecasting any trends in sales or income -vs- actual payments received. Same taxes will be paid for ytd ebit, but this will help you stay properly focused during the fiscal period that you're in to get paid. Preferably late fees are incurred to help offset the extra tracking.
    scottglenn's Avatar
    scottglenn Posts: 2, Reputation: 1
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    #3

    Aug 8, 2008, 05:09 PM
    Thank you, Peter!
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