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Dean Cox
Offsetting Invoices with Credit Notes - Coinvestment
Created
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An interesting scenario has occurred, which really has me stumped, and would love to know if others have had any scenarios like this, whilst i await an official answer from the ESFA, as my finance team won't take my word for it.
When you have to raise a credit note (in part or full) for co-investment due to a change in a learners status, which relates to an invoice already paid, under normal (non-apprenticeship) circumstances the refund balance would be allocated against another invoice due in the employers account; however, in apprenticeships you need to show the date a co-investment amount is paid, or also refunded. Is there any flexibility to the rules that allow my finance team to do this, and allocate these new invoice payment dates against the original payment of a cancelled invoice, or the refund date as the date it was allocated against another invoice due?
Hope that makes sense! Thanks in advance...
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Martin West
The Apprenticeship financial payments are not the same in an accounting system in that you can only record payments and refunds together with the applicable date and does support the offsetting of credit notes as you can only record actual payments and refunds.
Dean Cox
Offsetting Invoices with Credit Notes - Coinvestment
Created
An interesting scenario has occurred, which really has me stumped, and would love to know if others have had any scenarios like this, whilst i await an official answer from the ESFA, as my finance team won't take my word for it.
When you have to raise a credit note (in part or full) for co-investment due to a change in a learners status, which relates to an invoice already paid, under normal (non-apprenticeship) circumstances the refund balance would be allocated against another invoice due in the employers account; however, in apprenticeships you need to show the date a co-investment amount is paid, or also refunded. Is there any flexibility to the rules that allow my finance team to do this, and allocate these new invoice payment dates against the original payment of a cancelled invoice, or the refund date as the date it was allocated against another invoice due?
Hope that makes sense! Thanks in advance...