Debitoor blog

From March 1st 2021, the domestic reverse charge procedure was implemented in the UK for construction services. From this date, suppliers (subcontractors) will need to issue reverse charge invoices, which passes the VAT reporting obligations to the buyer (contractor).

This article shows you how to create a domestic reverse charge invoice on your Debitoor account. You can read more about the domestic reverse charge procedure on our blog: “Domestic VAT reverse charge for construction services".

At Debitoor, we record every feature request we receive from our users. We recently released a date filter for your customer account statements and are pleased to announce that we have now added an additional filter for outstanding invoices!

With this small but powerful update, you can filter your customer account statement even further by only including unpaid invoices from a time period of your choosing.

It may happen at some point that a customer misreads their invoice and accidently overpays. If this happens, you will need to provide a refund.

This article explains what to do if a customer accidentally overpays you for an invoice. Using an example from the start, it guides you through the different steps you need to take to fix this error and ensure your accounts add up after you have issused a refund.

Accepting partial payments on invoices and offering instalment plans can be highly beneficial for small businesses. Allowing customers to pay their invoices in instalments can offer customers more flexibility, and help businesses to collect money that is owed on overdue invoices.

A partial payment refers to any payment made on an invoice that is less than the total amount due. Businesses can use partial payments in two ways, either by offering clients the possibility to pay their due invoices in instalments, or by requesting a percentage of the amount due to be paid upfront as a deposit.

This article explores the advantages of allowing customers to pay in instalments and how you should record these transactions in your invoicing software.

Understanding what you can and can’t claim as a business expense is important, especially if you are just starting your business. This article outlines what you can claim as a business expense, if you can claim without a receipt, and how to easily keep track of your business expenses with invoicing & accounting software.

Most businesses are aware that they can claim their business expenses as a deduction on their Self Assessment tax return. However, it is less commonly known that you can claim pre-trading costs from before you started your business. In fact, most pre-trading expenses and expenses incurred in your first year of business can be claimed.

Due to popular demand, we have added filters to your customer account statements! We received several requests for this feature and are pleased to announce that it is now available on your Debitoor account.

Previously, the account statements would include all invoices linked to the customer, both paid and unpaid, from the time the customer was saved to your account. Now, you can add a date filter to only include invoices from a time period of your choosing.

Deposits are a great way to help secure work with clients and avoid financial loss. In some industries, it is common practice to request a percentage of the total amount due to be paid upfront as a deposit.

This article explores how your business can benefit from deposits and implement deposits within its invoicing practices. It explains when a deposit is typically requested, the advantages deposits will bring to your business, and how you should record these transactions in Debitoor.

A common question in the freelance world is whether you should charge your customers by the hour or by the project. Both have pros and cons and depend on many factors including the type of services you provide. This article explores both pricing methods and will help you identify which solution will work best for your freelance business.

Setting your prices can be tricky, especially if you’re just starting out as a freelancer. There is no right or wrong way to set your rates, and your pricing method may change throughout your career as you gain more expertise and customers. Ultimately, it is up to you to decide which pricing method would work best for your business.

As of January 1st 2021, VAT registered businesses that import goods into the UK can use a new system called postponed VAT accounting. This allows businesses to account for the import VAT on their VAT Return instead of paying it immediately upon entry to the UK.

Now that the UK has left the EU, VAT is due on imports from anywhere in the world if the value of the goods is over £135 (commercial goods threshold). This article outlines what postponed VAT accounting is, who can use it, and how it will look on your VAT Return.

From March 1st 2021, the domestic reverse charge VAT procedure will be introduced for the construction sector. You should start preparing for this change as soon as possible to avoid mistakes and fines.

The main change will be that the buyer will account for VAT for certain construction services rather than the supplier. This article outlines who is affected by this change and how to prepare.