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Gross / Net usage on invoices

patg · 2012-01-12 18:02:28

I have queried invoices being produced from USA branch which are produced showing the following: Gross amount = value of goods Net amount = Amount payable AFTER Adjustments (freight, discount (VAT is not applicable)) The explanation for this presentation I have been given is that the company wanted to show an amount…

12-01-2012 6:02pm

#1

patg

Registered Users, Registered Users 2 Posts: 157 ✭✭

Join Date: December 2008

Posts: 93

I have queried invoices being produced from USA branch which are produced showing the following:
Gross amount = value of goods
Net amount = Amount payable AFTER Adjustments (freight, discount (VAT is not applicable))

The explanation for this presentation I have been given is that the company wanted to show an amount payable (GROSS) before discount leaving a NET amount payable.

I kind of understand this explanation as it sounds in conversational terms that someone might say the net amount referring to a figure after a deduction has been applied.

HOWEVER I think that strictly speaking a deduction should be treated just like any other adjustment - ie adjusted after the net to arrive at the gross amount payable.

Please can anyone who managed to get to the bottom of this email confirm or correct my understanding as appropriate.

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