Supplier invoice received late

[FutureAccountant]

Good day,

What is the correct treatment when receiving a supplier invoice in April 2022 for services rendered in January 2022, taking into consideration that the Pastel rollover took place end of February 2022? (hypothetical)

Is the invoice backdated so that it falls under it's original date, is it processed in the new financial year, do you ask the supplier for a differently dated invoice, does it depend on materiality and whether the financial statements have been finalised? What is the correct approach?

Thank you

[Dave A]

What is the date of the invoice?

[FutureAccountant]

Hello Dave,

The invoice date is 15 January 2022.

Thank you

[Dave A]

Read the OP again.
I pass on hypothetical questions

[Mike C]

Fair question as the VAT 404 Guide for Vendors says:

A vendor must issue a tax invoice to the recipient within 21 days of the supply having been made where
the consideration for the supply exceeds R50 (whether the recipient has requested this or not).

This does not always happen.

[Dave A]

Fair question as the VAT 404 Guide for Vendors says:

A useful point. Being on Quickbooks, for me practically it is the VAT return that effectively closes a period to invoicing and posting bills in my management accounts.

But I don't think that is what FutureAccountant is looking for. I believe he is exploring a hypothetical problem and is looking for the accounting solution.
Claiming the Input VAT in a later period really just has a cashflow effect.
Claiming the expense in a subsequent tax year could be deemed manipulative if the quantum is material, and I expect is dealt with somewhere in IFRS.
I expect the final accounts will make a provision, and in the management accounts the bill will be captured or reposted against that provision.
But I'll leave FutureAccountant to research that if one of the real accountants around here is not on the mood

[Andromeda]

The invoice should be accrued, including the VAT. Best would be reverse it on 1 March and then put it in again in April.

Assuming end of February is a year end.