If your client or agency has a self-billing platform – where they prepare a VAT invoice on your behalf – you’ll need to ensure the invoice is replicated in inniAccounts.
In a self-billing arrangement the client or agent normally prepares an invoice based on your submitted timesheet. The client or agency then sends you a copy of the invoice, normally with the payment.
We always recommend that you create your invoices in inniAccounts in parallel to the invoices received from your agent / client. The main reason for doing this is to ensure that the VAT is accounted for correctly as ultimately your company is responsible for getting it right, and not your agency or client. This is particularly important when it comes to accounting for VAT on billable expenses and mileage as this is where mistakes can be made.
Having a full set of records in inniAccounts will also make life easier for you in the long run and helps ensures the accuracy of your accounting records.