What if there is no invoice?

Quick answer

PTRS can still apply where there is no invoice. If there is another document demanding payment, that document can be used; otherwise payment time is measured from when the payment obligation started, which may be the supply date.

What does this mean?

The Regulator makes clear that its invoice guidance also applies to non-invoice payment documents. Where there is no invoice but there is a notice for payment, equivalent classifications can be applied to that notice. Where there is no invoice or other document demanding payment, payment time is calculated from the date the payment obligation commenced.

Practical point

Do not automatically exclude a transaction because there is no invoice number. The underlying supply and payment obligation determine whether the transaction is reportable.

Other ways people ask this

• Can a payment be reportable if there was no invoice?
• How do I calculate payment time without an invoice?
• What date do I use when there is only a notice for payment?
• Does PTRS only apply to invoiced payments?

Official sources

• Payment Times Reporting Guidance Materials
  Preparing the TCP Dataset
  Page: 35 · Reference: Regulator Note – non-invoices
• Payment Times Reporting Guidance Materials
  Method to calculate payment times
  Paragraphs: 168, 169 · Page: 42-43
• Worked Example – Standard Payment Times Report
  Steps 5 & 6 - SBTCP Dataset
  Reference: Payment time where no invoice or notice for payment exists

Related guidance

• How is payment time calculated for PTRS?
• Which invoice date should I use for PTRS?
• What is a trade credit arrangement?

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