A quick finance question.

iCraig

iCraig

iCraig

Permabanned
Joined
21 Apr 2004
Posts
13,312
Location
Wolverhampton
Hypothetically if you receive an annual service from your accountants for say, 7 years, and they forget to invoice you for each of those 7 years, and hypothetically an invoice for those 7 years finally lands on your doormat. Hypothetically are the really old invoices still valid? Do they have an infinite retention or is there a limit to when an invoice just simply doesn't need to be paid any more?

Hypothetically speaking of course.
 
What a very good question

On one hand the accountant has provided a service so is entitled to payment, but on the other, he didnt ask for payment at the time so why should he be entitled to any a considerable amount of time later. Would you sign a contract with the accountant? maybe the terms and conditions are laid out in the whatever terms are agreed.
 
As above - when (our company) do work we quote for the job and have various terms & conditions. They are valid for a certain time only and then have to be redone. Depends if you signed anything or have a contract. Do you have to sign work off etc.
 
If we end up invoicing late for whatever reason we will usually offer a decent discount - 30-50%.

As mentioned before check any contract you've agreed to.

If they end up threatening court action to get the money offer 50% or something, see what they say.
 
You must log in or register to reply here.
Back
Top Bottom