Generate a Pro Forma Invoice

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Dan Manojlovic

• April 26, 2018 12:07

Hi,

We generate a pro forma invoice for our clients, so that they can pay a deposit.

The reason we do this is because generating a tax invoice for a deposit will initiate a VAT entry that needs to be paid over to the revenue service. Sometimes a transaction (deposit and outstanding balance payment) will occur over two VAT return periods. So there will be a VAT liability payable in each period.

The pro forma invoice allows us to delay the payment of the VAT liability to when the full tax invoice becomes due.

Can you recommend a way of doing this in AS?

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  Ryan Faulkingham

  • April 26, 2018 20:45

  Hi Dan,

  When you create this invoice, it will post to the VAT GL account in full. Since you only want to report on amounts that were paid, what if you ran a report for open billings with billing lines for a date range prior to the end of your reporting period and then backed this number out of your VAT? 

  Thank you,

  Ryan

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  Tony

  • April 26, 2018 23:45

  Several companies create an pro-forma invoice via a standard billing and do not post it. They collect the cash receipt and then apply it to future invoices when goods or services are rendered.

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  Dan Manojlovic

  • April 27, 2018 11:47

  Hi Ryan,

  Thanks for your response. It is more about when the final invoice gets posted, acknowledged in the GL and how the pdf templates can cater to that, that it is about reporting.

   

  Hi Tony,

  Thanks. I like that as a solution. I just wish that the templates could cater for it. I have contemplated generating a pdf from the sales order object for this purpose and then creating a billing when the final tax invoice needs to be issued.

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