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Post Info TOPIC: Netting statement
sage123


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Netting statement
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Dear all,

Assuming we are company K. 

 

We been told to do below for netting statement

Sales - 1000 + 200(vat) = 1200

Rebate - (950) + (0.00) = (950)

 

Total payable to company c = 250

 

Send a sales invoice from company company K to company A for £1000.00 + 200 (vat) = 1200.00

Pay 250.00 to company C by company K 

Then Company A will invoice company K for 1000.00 plus vat - which can be used to offset against invoice to company A. 

Finally £200.00 paid to company C can be used to offset against the vat on invoices from Company A . Then vat from sale is declared and paid by company C

 

So for the above , i assume i have to invoice company A for 1000 plus vat as customer

then put through the invoice from company A for 1000 plus vat as supplier

 

Then put through a payment on a/c for company C, then???

 

Thanks 

 

 

 

 

 



-- Edited by sage123 on Monday 22nd of September 2014 10:07:01 AM

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