Managing invoices and orders that span the Brexit date in Sage 50 Accounts

Solution Properties

Solution ID:

201110103243683

Last Modified Date:

Thu Oct 06 08:39:42 UTC 2022

Taxonomy Path:

Case category//How do I...//governmental/legislative compliance

Author:

[email protected]

Managing invoices and orders that span the Brexit date in Sage 50 Accounts

Description

Service invoices that span the EU exit date

If you receive or supply a service, you must post two separate invoices for the proportion of the service carried out before and after the UK's EU exit date.

For example, if you supply a service for 20 hours at £50 an hour of which 15 hours was before the EU exit date and 5 hours was after. You would post two invoices:

Invoice before EU exit - 15 hours x £50 = £750
Invoice after EU exit - 5 hours x £50 = £250

NOTE: Find out how to post transactions after the UK leaves the EU. UK / ROI

Product orders

When posting product invoices, the tax treatment you apply to an invoice depends whether the product is in transit at the time the UK exit's the EU:

Item is in transit	Treat the transaction as you did before the UK left the EU.
Item has not yet left the supplier	Treat the transaction as you should now the UK has left the EU.

NOTE: Find out how to post transactions after the UK leaves the EU. UK / ROI

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