Tax invoice

[MCGLegal]

Hi,

Would someone kindly explain why the tax invoice is issued to the practitioner rather than the buyer/seller directly when the PEXA fee is paid by the buyer/seller and not by the practitioner as a disbursement?

As a buyer/seller (for example a company) would be prevented from claiming any GST component where the invoice is issued to a third party.

We are new to PEXA and are wondering how are other firms are entering the fee into their accounting systems?

Thanks.

[Ames]

Hello @MCGLegal.

Welcome to PEXA and thanks for your question to the Community!

The tax invoice is issued to the Subscriber because the funds come from either their registered source account, or their fee paying account. So it is the Subscriber who directly pays, though in some instances, funds may have been provided by a client for that purpose. Also, it is the Subscriber who has entered a contract with PEXA and who is in the system receiving the services. PEXA does not provide services directly to the buyer or the seller in the transaction and accordingly, does not bill them.

Are any other firms able to comment about how they enter details of the PEXA fee into their accounting software? 

@Rowena you posted something similar earlier, are you able to comment on this?  

Cheers

Amy