Issue cr note or is it disallowed?

[aoc]

owed money for a job, client waiting for govt funding (for ever and ever) - eventually they get it but its slightly short, i have offered to take what is there now and forget it the balance, better that than wait another year to get the whole amount, and hate getting part payments - is this discount allowed or do i issue a cr note for the difference??

 

[Caveat]

If your client has been actually invoiced then a credit note should be issued to cancel out the amount you are prepared to do without.

An official credit note makes things more transparent and ultimately more straightforward in your accounts.

 

[aoc]

i thought that, but rem having a conversation with a revenue ee and they stated that if the work was done, you could not credit it, obviously would prefer to cr note it (vat back etc...)

 

[Caveat]

Ah OK a job as opposed to a product - missed that bit. I'm not sure in this case - sorry.

 

[aoc]

that's fine, appreciate opinion...

 

[ubiquitous]

i thought that, but rem having a conversation with a revenue ee and they stated that if the work was done, you could not credit it, obviously would prefer to cr note it (vat back etc...)

"tax advice" from Revenue officials should generally be taken with a pinch of salt, as in this case.