A GST invoice and payment date review should identify whether the company is considering an input-tax claim on a purchase or output tax on a sale. Keep the invoice, supply details and payment evidence together. Do not apply one date rule to both sides simply because the bank transaction is the easiest record to find.
Establish the transaction type
Record whether the document is a supplier invoice, customer invoice, deposit request, credit note or another record. Identify the legal entities, currency and accounting period being reviewed. A pro forma request and a completed tax invoice may need different consideration.
Tell the accountant which figure the team is trying to review. A question about when to claim a supplier’s GST differs from when the company must account for GST on its own sale.
Gather the relevant dates
List the invoice date, receipt date, supply or delivery information, payment date and any adjustment. Keep the underlying documents linked rather than overwriting a date in the accounting system to match a preferred period. If a document arrived late, record that fact separately from the date printed on it.
Check the applicable rule
IRAS’s input-tax guidance generally ties the claim period to the invoice or import-permit date, subject to its conditions. Output-tax timing has its own requirements and needs separate review. Ask the accountant about exceptions, special arrangements and any correction required for the actual transaction.
Example: a supplier invoice paid later
An invoice is dated in October and the company pays it in November. The payment date alone should not be used to select an input-tax period without checking the valid supporting document and claim conditions. Keep the November bank entry for settlement reconciliation. Do not change the invoice date to November merely to simplify the matching.
Record the reviewed outcome
Retain the accountant’s period decision with the document references. Identify any unpaid balance or later adjustment that needs follow-up. If a prior return may be affected, seek instructions on the correct correction process rather than silently moving the entry into a convenient later period.
Related practical guidance
For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.
Official guidance: IRAS official guidance.
Help with your company records
For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.
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