Remittance advice Thread poster: evzso
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evzso
Local time: 02:46
English to Hungarian
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Does translation agency have the option/right not to provide the freelance translator automatically with remittance advice, only upon request? Country is UK.
I thought that it was obligatory for tax purposes.
I find that the agency takes a recourse to this practice of not providing remittance advice in order to save work, but also to avoid and delay any payment queries.
[Edited at 2014-11-11 01:28 GMT]
[Edited at 2014-11-11 01:28 GMT]
| | | | Tom in London
United Kingdom
Local time: 02:46
Member (2008)
Italian to English
| Your bank should do it | Nov 11, 2014 |
evzso wrote:
Does translation agency have the option/right not to provide the freelance translator automatically with remittance advice, only upon request? Country is UK.
I thought that it was obligatory for tax purposes.
I find that the agency takes a recourse to this practice of not providing remittance advice in order to save work, but also to avoid and delay any payment queries.
[Edited at 2014-11-11 01:28 GMT]
[Edited at 2014-11-11 01:28 GMT]
If you receive payments by direct bank transfer from your client's bank to your UK bank, your bank will send you a statement on each occasion, detailing
- who made the payment
- what it was for
- on what date
- for how much in Euro
- the exchange rate on that day
- how much you receive in GBP.
You can then file this along with the invoice to which it refers. It should arrive by post a few days after the money is credited to your account.
If you're paid via some third party such as PayPal, of course you don't get that.
[Edited at 2014-11-11 08:06 GMT]
| | | | Thomas Pfann 
United Kingdom
Local time: 02:46
Member (2006)
English to German
+ ...
| Not compulsory (as far as I know) | Nov 11, 2014 |
Tom in London wrote:
Your bank should do it
I think the note from your own bank informing you that money has been paid into your account is not the remittance advice but the credit advice.
The remittance advice comes from either the client or their bank. I have one UK client who pays me in GBP into my UK bank account and when they pay me I receive an email from the client's bank stating who paid me and which invoice number(s) the payment is for (this email is labelled a "Remittance Advisory Email"). I also have one or two clients who send their own remittance advice emails when they are about to or have just paid an invoice.
As far as I know it is not compulsory to send a remittance advice, it is a mere courtesy. Personally, I don't find them useful at all. I save the remittance emails with invoices and other payment related emails/documents but I could just as well delete them. They don't serve any purpose at all; especially since most of the time I already have seen the amount in my bank account by the time I receive the remittance advice.
[Edited at 2014-11-11 09:35 GMT]
| | | | Tom in London
United Kingdom
Local time: 02:46
Member (2008)
Italian to English
| Remittance advice vs. credit advice | Nov 11, 2014 |
Yes, I occasionally receive, from a client, a copy of their "remittance note" but although I dutifully file these, they're not in English and are therefore useless for tax purposes (unless I translate them, formatting all the sections etc. - which I have no intention of doing!!) I imagine my client needs to keep these on file at their end, for use by their tax authorities.
The *credit advice* (how do you do bold type on this rather antiquated website??? Why can't I just hit CMD + ... See more Yes, I occasionally receive, from a client, a copy of their "remittance note" but although I dutifully file these, they're not in English and are therefore useless for tax purposes (unless I translate them, formatting all the sections etc. - which I have no intention of doing!!) I imagine my client needs to keep these on file at their end, for use by their tax authorities.
The *credit advice* (how do you do bold type on this rather antiquated website??? Why can't I just hit CMD + B on my Apple keyboard?) is the part I find useful. It's in a language the UK tax inspector can understand and it gives all the details of the transaction.
[Edited at 2014-11-11 08:19 GMT] ▲ Collapse
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Sheila Wilson
Spain
Local time: 02:46
Member (2007)
English
+ ...
| Certainly not obligatory | Nov 11, 2014 |
I have one or two clients who send a remittance advice, but only because it's very easy to do so nowadays (one tick in the box on the wire transfer screen does the trick). If the money's going into my French account it's quite useful as it takes days to come up on my screen (they don't like their clients to see the latest picture). But my Spanish bank account's on-line view gets updated instantaneously. It's my husband's job to keep tabs on it and he sometimes knows what I've spent before I get ... See more I have one or two clients who send a remittance advice, but only because it's very easy to do so nowadays (one tick in the box on the wire transfer screen does the trick). If the money's going into my French account it's quite useful as it takes days to come up on my screen (they don't like their clients to see the latest picture). But my Spanish bank account's on-line view gets updated instantaneously. It's my husband's job to keep tabs on it and he sometimes knows what I've spent before I get home with the groceries . The bank doesn't send me any sort of credit advice either but there is one I can click on if I'm interested.
I don't see any problem, nor do I see that it can work to the client's advantage not to send remittance advice notes. If the money isn't in my hands by the due date then the "late payment" clock starts. ▲ Collapse
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