On 12/9/2017 7:38 PM, Adrien Monteleone wrote:
Thanks Maf.,
But it seems the entire invoice posts together on the posting date, not by
line-item date. I just double checked several of them that crossed period
boundaries.
I’m in the U.S., not sure what the specific rules are on invoice time frames,
but GAAP would say the invoice/bill date doesn’t matter - what matters is when
you actually do the work or incur the expense.
Going to put my two cents in (even though I am not doing business
accounting)
More complicated that that (the dates) and I will give you a concrete
example from my own experience as customer. We had a solar system
installed and we had a CONTRACT with the installer and this contract
specified dates/events that made various portions of the job payable.
Things like "upon signing contract" (of course no actual work done),
upon delivery of materials (that one at least matches the above), upon
completion/up and running but THAT depended on actions outside of the
control of the vendor (when building/electrical inspector signed off,
when electric utility came out for final hook up and they stall that as
much as they can).
In other words, of all of the payments, only ONE was related to when the
vendor actually do the work.
However I agree that the date an invoice is prepared is irrelevant.
Should have effective dates for the charges.
Michael D Novack
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