Does the invoice receipt date affect payment time?

Quick answer

Yes, where the actual invoice receipt date has been recorded. For a normal invoice, PTRS payment time uses the shorter period calculated from invoice issue date or recorded invoice receipt date to payment date.

What does this mean?

The invoice receipt date only needs to be included in the TCP Dataset where it has been recorded. For payment-time calculations, a genuine recorded receipt date can shorten the measured payment time because the Regulator uses the shorter of the invoice-issue-to-payment period and the invoice-receipt-to-payment period.

Practical point

A system posting date is not automatically an invoice receipt date. The worked example says the receipt date should be digitally recorded and reflect when the invoice was actually received rather than when somebody later entered it into a system.

Other ways people ask this

• Can I calculate PTRS payment time from the date we received the invoice?
• Is the AP posting date the same as invoice receipt date?
• Do I need an invoice receipt date for every PTRS transaction?
• What happens if we do not record when invoices are received?

Official sources

• Payment Times Reporting Guidance Materials
  Invoice and receipt dates
  Paragraph: 142 · Page: 38
• Payment Times Reporting Guidance Materials
  Method to calculate payment times
  Paragraph: 166 · Page: 42
• Worked Example – Standard Payment Times Report
  Glossary
  Reference: Invoice receipt date

Related guidance

• Which invoice date should I use for PTRS?
• How is payment time calculated for PTRS?
• What if there is no invoice?

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