Billing Date

by Maria


What date should we use for the bill? The date when the service happened or the date we received the bill?

If we use the date the service happened, the Board of Directors has already reviewed that month.

If we use the date we received the bill, then it's not a match with the budget month.

Please advise. Thanks a lot.

image of fancy scroll lines

Maria, you enter the bill by the date on the invoice ... NOT the service date ... and NOT the receipt date. Then set the due date according to the terms of the invoice.

Comments for Billing Date

Click here to add your own comments

Apr 27, 2011
Billing Date
by: Anonymous

Hi There,

Normally, if the month is not closed, for example it is now April; when you receive the invoice, you put the invoice date, such as April 22.

But if you receive a March invoice in April, and the March month accounting book has been closed, I will input April 1 as the invoice date.

When doing your budget comparison, you can write down the reason for the difference as timing and explain that you received the invoice after the books were closed.

When you are expecting an invoice to come before you closing the books for the month but you haven't received it in time, what you can do is make an accrual entry estimating the amount. You would reverse the entry when you receive the invoice in the next month.

Mar 25, 2014
Which date to use from received invoices
by: Kyle, St. Catherines, ON

Hi Lake.

If I receive an invoice in the mail (for example) on March 24, and the invoice is date March 18, which one should I use when recording the Accounts Payable transaction?

Up until now, I have been using the date I receive the invoice (though it is due 30 days from the invoice date). Thanks!

Mar 25, 2014
Invoice Date
by: Lake

Hey Kyle, when doing accounts receivable or payable data entry, always use the date of the invoice or bill. It ensures you are matching your revenues with your expenses (which is an accounting principle).

The bonus is you will be able to use your aged receivable or payable report to manage your cash flow.

Click here to add your own comments

Return to Small Business Bookkeeping.

Enjoy A Tea Break With
Me Today. Let's Chat!

Use the search feature to quickly find the
information you're looking for.

Like this page? Please let Google
know by clicking the +1 button.

 Keep Your  eDocuments Safe And Secure… $7 USD

Your Learning Curve!

Buy Now

Warm up your tea cup and check out these chats ...

Click on image above to read the chat.

Purchasing These Products Through My Links Helps To Support This Site

Click on image above for my review.

Join Me On Facebook

Help support this site by "liking" me! Here's where I post current information.

Listed Under Websites NOT Local Business.
This website is not associated with the business operating in Bonnyville AB.

A Handy Reference

Buy Now