Module 43 · Core · 6 lessons · about 51 min

Progress billing, retention and VAT

Bill by percent complete, withhold and release retention, recover advances, handle variations and UAE VAT (Zeyto Construction & Contracting, pre-release).

What you will be able to do

  • Set the contract terms that drive billing
  • Take a progress bill from percentages to tax invoice and compute its figures
  • Calculate retention, the cap and the release invoice, and know the VAT time-of-supply points
  • Split an advance, recover it on each bill and close it on the final bill
  • Handle variations, delay damages and deductions with the right VAT
  • Prepare a final account and read receivables

Lessons

  1. 1. The contract terms that drive every bill 8 min
  2. 2. From progress bill to tax invoice 9 min
  3. 3. Retention held and released 9 min
  4. 4. Advance payments and how they are recovered 8 min
  5. 5. Variation orders, delay damages and deductions 8 min
  6. 6. The final account, UAE VAT points and receivables 9 min

Practice quiz (24 questions)Printable study sheet