Dating of invoices

Typically this type of backdating occurs when the beneficiary of the backdating can reap some sort of tax or other benefit if the event had occurred on the earlier date. A sequential numbering system ensures that invoices are easily tracked when they are produced and paid, even if several invoices are produced with the same invoice date. May 12, Messages: Terms of payment are interpreted in relation to this date. And finally, I don't know if they have set up their QuickBooks company as cash or accrual.

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Amendment to the Company Law in China:

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Future-dating invoices

Clients get an invoice for the full amount with an invoice date of the speaking date and pay installments. The payment term of "net 30 days," for example, is calculated from the invoice date, so that the payment is due no later than 30 days from the date of the invoice. Backdating encompasses a broad scope of conduct ranging from blatant fraud to the legitimate and common practice of executing a document after the event has already occurred. Share Facebook Twitter Linked In. Please contact customerservices lexology.

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