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Vat Receipt

  • 15-05-2007 8:00pm
    #1
    cgarrad
    Registered Users, Registered Users 2 Posts: 1,611 ✭✭✭


    Hi, Ive been asked to issue a vat receipt by one of my customers. I've no problem doing this but I'm not sure what is required. Dont want to issue something which is wrong as it wont look too professional will it ;-)


Comments

  • #2
    Jakey
    Closed Accounts Posts: 105 ✭✭Jakey


    Obviously to issue a VAT receipt you have to be registered for Vat (Im presuming you are)
    The receipt must show:
    Your vat number
    a breakdown of the VAT charged (normally Net, Vat, Total)
    The date of the invoice
    Your business name/address
    Your customers name/address
    An invoice number

    Often conditions of sale are added too
    For example
    Payment due in 30 days
    Retention of title until payment received ect..


  • #3
    eggie
    Closed Accounts Posts: 880 ✭✭✭eggie


    Must contain:

    1. Your VAT no.
    2. Date
    3. Net value of sale
    4. VAT amount
    5. Gross amount (net + vat)
    6. Company name
    7. Registered address
    8. Customer name
    9. Customer address
    10. Description of goods/services being sold

    If you are using the reverse charge procedure this must also be stated on the invoice, after receiving your customers VAT no and checking it is valid.


  • #4
    cgarrad
    Registered Users, Registered Users 2 Posts: 1,611 ✭✭✭cgarrad


    Thanks, that probably saved me a couple of hundred in accountant fees ;-)

    Cathal


  • #5
    Terry101
    Registered Users, Registered Users 2 Posts: 11 ✭Terry101


    Technically you are not issuing a Vat receipt. With all sales you should be issuing an invoice with the info mentioned previously. An invoice is the record which allows a vat registered sole trader or business to reclaim VAT - it is not a receipt. If you haven't been paid or think there maybe a delay in payment you can issue a pro forma invoice which can't be used to reclaim VAT until an actual invoice is issued. Hope this helps.


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