Vat Changes with Settlement or Prompt Payment Discount

If you use settlement discounts and one of our software solutions and we haven't already contacted you, please contact us.


What’s happening?


From 1 April 2015, the VAT rules relating to settlement or prompt payment discounts are changing.


Currently, when you raise an invoice that includes a settlement discount, the VAT element is reduced by the discount rate. Your customer only has to pay the reduced VAT amount, regardless of whether or not they pay within the settlement term.


Under the new rules, if you're paid before or when you raise the invoice, you can create the invoice for the discounted net and VAT amounts. If the invoice isn't paid, it must show the full net and VAT amounts.



Read more: Vat Changes with Settlement or Prompt Payment Discount

We wish you all a very Happy New Year 

We would also like to thank you, our customers, resellers and suppliers, for your support and custom over the last 12 months. All of us at Encode It have discussed how we enjoyed last year’s projects and this is primarily down to having great customers, resellers and suppliers, so thank you again.

2015 is already exciting with on-going projects from last year, further upgrades and new features planned for our existing product range, providing even better efficiencies for our users and we have the potential of a totally new specialist solution earmarked for Q3 this year (2015).

We are a completely UK based provider of bespoke and off the shelf business software solutions.

Most of our standard business software applications integrate with Sage 200 and / or Sage 50
We are now experts in significant areas of the automated collection, pricing and billing for cloud services. VMware, Attix5 and Zerto to name just three.

The Encode IT team.


Not Much News !

Not much news this year I hear you think, so what have we been doing, here at Encode It Ltd?

Well over and above the normal stuff we do, we have been working hard to become market leading experts in the billing of Cloud Services.


Read more: Not much news !

Life can be simple and computers can make it complicated.

I deliver to my customers on a particular day of the week. An example being,  I drop to a customer 20 on a Monday, 40 on a Wednesday and 60 on a Friday and

  • I just want to bill them at the end of the month! 
  • I just want to bill them for what they had has last month!
  • I just want to bill them in advance for next month!

Or Weekly, (I've already mentioned Monthly), Bi-Monthly, Quarter, Six Monthly, Yearly.

Read more: Billing for daily services or deliveries

Who on earth would give their sale team access to the billing system?

What if they wanted it the web-based CRM software SalesForce?

The billing system is probably the only place where all your solutions/platforms/services including future agreements, congregate to provide a true and detailed picture of your contractual and variable relationship with your customers. This total clarity not only provides detailed financial forecasting but also has the potential to provide great opportunities for your different departments, identifying possible upgrade and cross-selling opportunities as well as insuring that no renewals get missed.

Read more: Who on earth would give their sale team access to the billing system?