This policy outlines the processes involved in the issue, payment and retention of invoices as well as confirming the legally required content of the invoices.
This policy relates to the requirements set out by the regulatory authorities STA are regulated and accredited by, these being:
Ofqual general conditions of recognition and Qualifications Wales Standards of Recognition, condition F:
- F3.2 – An awarding organisation / body must establish, maintain, publish, and comply with a written policy on invoicing
- F3.3 – The policy must specify the processes to be followed by the awarding organisation / body in relation to the issue, payment, retention, and the content of invoices.
SQA Accreditation regulatory principles, regulatory principle 5:
- The awarding body and its providers must provide clear information on their procedures, products, and services and ensure that they are accurate and appropriate to SQA accredited qualifications.
STA invoices are issued daily and are either automatically generated by transactions on STA Online accounts or can be manually generated by STA sales staff. The invoices are always charged for the full amount with the exception of specific written arrangements agreed with the customer prior to invoicing. Invoice generation is triggered by course registrations and STA Swim-Shop purchases by the customer on STA Online.
Validation checks are completed to ensure the completeness and accuracy of invoicing.
Legal Content of Invoices
Invoices are created automatically or manually onto standardised templates that include:
- Unique invoice number
- Invoice date
- STA company name, address and contact details
- STA company number
- STA VAT registration number
- Customer name and address
- Invoice value with a detailed breakdown of the charges, VAT and postage charges where applicable
- Invoice payment terms.
Invoice Payment and Debt Collection
The Director of Finance is responsible for ensuring that:
- Invoices are issued promptly and accurately in accordance with the policy
- Action is taken to collect overdue debts in accordance with the invoice terms of 30 days from invoice date and the company’s procedures for debt recovery.
Invoices are retained for six years plus the current financial year in accordance with legal requirements.
If you have any queries in relation to this policy please contact firstname.lastname@example.org.