Self billing question

[skelm]

Can someone please explain to me what self billing means?

Agency want me to use their self billing process. Is this good/bad?

I have always raised invoices via myLtdCo for all my other gigs so this self billing is kind of new for me.

Is it pretty much the same for self billing except I dont need to raise an invoice? How does the impact VAT etc?

Any help appreciated.

[oracleslave]

Have a look here fwiw

http://forums.contractoruk.com/busin...f-billing.html

[AlanR]

Hi,

I use self billing with one of my clients and it makes life a little easier.

Basically, i submit weekly timesheets through their portal which are then authorised by my manager. At the end of a monthly timesheet period and providing all the associated time sheets have been authorised, i am paid without the need to submit an Invoice.

I am provided with paperwork to support my submissions namely a Self Bill proforma listing my weekly timesheets and the hours booked and then, once payment has been authorised, a Remittance Note which identifies the amount to be paid into my bank account.

It is this Remittance note that contains details of the VAT element.

I still create and print off an Invoice for my own records.

Hope this helps.

Regards

Alan

[malvolio]

For admin, it's useful. For IR35 it's irrelevant. For accounting purposes though, it's a PITA and you find yourself raising dummy invoices to keep the audit trail straight. And many of them seem not to understand VAT very well either.

Avoid if you can but it's not the end of the world if you can't.

[skelm]

Originally Posted by malvolio

For admin, it's useful. For IR35 it's irrelevant. For accounting purposes though, it's a PITA and you find yourself raising dummy invoices to keep the audit trail straight. And many of them seem not to understand VAT very well either.

Avoid if you can but it's not the end of the world if you can't.

Thanks Mal. Its being insisted upon ... and they are saying that they will send me payment notification detailing what has been paid and what the VAT component is etc.

My slight concern is that if they do get something wrong in the amounts ( VAT or amount chargeable ), how do they do about correcting it? Seeing that I am not supposed to send them invoices, do they issue credit note to themselves and then re-invoice?

Or am I being too picky here.

[Sockpuppet]

Badeonch & Clark used self billing.

I just raised dummy invoices. They also seemed to get the expenses spot on.

Invoice by Friday, paid by Wednesday every time and right each time. Never had an issue.

[Lewis]

Originally Posted by skelm

Or am I being too picky here.

Nope! My self billing invoices were a nightmare. Wrong rate, double correction, never sent copy of invoice etc..

I demanded to be taken off and then was magically re-added and once again mistakes were made. In the end I said take me off or I leave this contract and since then everything has been fine.

[ratewhore]

Don't like 'em so never used 'em. Never been a problem with any agency trying to get me to use them either. They were happy enough for me to submit my own invoices...

[FiveTimes]

I self bill and there I haven't had a problem with any of it.

[pmeswani]

Originally Posted by FiveTimes

I self bill and there I haven't had a problem with any of it.

I self bill, do manual timesheets and send invoices (via the PSC). No problems so far. I self billed in my last contract... again no problems.