Apply the final calculation correctly

Industries such as plant construction or the construction industry usually provide contractually agreed services over a longer period of time. Partial and partial invoices are often issued to the client. The final costs are then settled with the final invoice. With this final document, all outstanding claims for a period of time are settled, taking into account the instalments already paid. Project settled. A prerequisite for a final invoice is therefore that partial invoices or invoices on account have been issued beforehand.

Partial invoices, partial invoice, final invoice

First of all, one has to get used to a somewhat confusing terminology. For example, the VAT Act speaks of a final invoice instead of a closing invoice. You also have to distinguish between the different types of invoices. The Down payment invoice is issued before a service is rendered, but at least before its acceptance. The partial final invoice variant is used when the invoiced partial service can be clearly delimited. In contrast to the down payment invoice, an acceptance of the respective services took place before the partial final invoice. This invoice is also not subject to a final invoice.

Invoice on time

A further prerequisite for a final invoice is that the contractor and invoicing party have previously expressed the final amount they wish to invoice for their services. Deadlines must be observed for this final amount. After a period of three months for the completion of the project, a final invoice must be sent no later than 12 working days after finalisation, unless otherwise agreed. If a project lasts longer than this, the contractor must add six working days per three months of project duration and submit the final invoice.

The shape must be right

Of course, the formal conditions of an ordinary commercial invoice apply to the final invoice. Furthermore, there are additional requirements as to what must be listed:

All services of the project with corresponding charges (net)
Fees already collected and the tax related thereto
The amount still outstanding and the VAT due thereon

Caution with turnover tax

In order to avoid having to make costly corrections due to incorrect final invoices, or even having to pay tax arrears and interest on arrears, caution is advisable. This applies in particular to the disclosure of VAT. In order to be as transparent as possible, the value added tax be shown separately for all partial payments already received. If only gross amounts are stated here or if partial payments are not stated at all, the taxes already contained therein are due again with the final invoice.

Correct billing with MariProject

Flexible billing

MariProject helps you sustainably with the various types of invoicing in the project business. Partial and advance invoices, requests for payment, according to expenditure or at a fixed price.

Assets under construction / work in progress (WIP)

MariProject can determine the value of your assets and projects using various methods. Examples are ?Percentage of Completion? or ?earned value?. The values determined in this way are immediately posted correctly via the integrated financial accounting.