Estimate fy19-20 to fy 21-22

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Accountant
61 Points Posted on 11 January 2022
can we raise tax invoice for fy 21-22 for estimated for fy 19-20
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On 11 January 2022 at 11:47 Report
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This discussion clarifies whether a tax invoice can be raised for FY21-22 based on estimates from FY19-20. The consensus is that if the initial estimates had no accounting impact, a tax invoice can be issued for FY21-22 as with any other sale. This approach treats the invoice as a standard sales transaction.

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Chartered Accountant
5010 Points Posted on 11 January 2022

In my opinion the estimates sent to teh client did not have any accounting effect in the books of accounts. 

So if you are raisng invoice against those estimate , you cna raise a tax invoice like any other sales. 

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On 11 January 2022 at 13:08
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Accountant
61 Points Posted on 11 January 2022
Ok thanks 😊
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On 11 January 2022 at 13:41

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