Fees on invoice (Revenue)

Discussion in 'Accounts & Finance' started by JFearns, Apr 17, 2019 at 3:55 PM.

  1. JFearns

    JFearns UKBF Newcomer Free Member

    5 0
    We invoice our clients for services provided at a fixed fee. We also invoice them (on the same invoice) for paying fees on their behalf (which they reimburse us for when they pay our invoice).

    My question is, do we count the fees as part of our revenue?

    Many thanks.
     
    Posted: Apr 17, 2019 at 3:55 PM By: JFearns Member since: Sep 26, 2013
    #1
  2. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,543 2,337
    Are you calculating your turnover to see if you need to register for VAT?
     
    Posted: Apr 17, 2019 at 4:33 PM By: MyAccountantOnline Member since: Sep 24, 2008
    #2
  3. JFearns

    JFearns UKBF Newcomer Free Member

    5 0
    Hi, no we are already VAT registered. We have been asked by a finance company (who are a client of ours) what our revenue is. Thanks.
     
    Posted: Apr 17, 2019 at 4:45 PM By: JFearns Member since: Sep 26, 2013
    #3
  4. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,543 2,337
    If the costs are disbursements they should be excluded.
     
    Posted: Apr 17, 2019 at 4:47 PM By: MyAccountantOnline Member since: Sep 24, 2008
    #4
  5. JFearns

    JFearns UKBF Newcomer Free Member

    5 0
    Right ok, thank you.
     
    Posted: Apr 17, 2019 at 5:10 PM By: JFearns Member since: Sep 26, 2013
    #5