What the Turnover Date in an Electronic Invoice Means
The turnover date in an electronic invoice is the date on which the turnover from the sale of goods, work or services occurs, as determined in accordance with Article 460 of the Tax Code of the Republic of Kazakhstan (Article 460 of the Tax Code of the RK). It is specified in line 3, “Turnover Date,” of Section A of the electronic invoice. This line is mandatory.
The turnover date should not automatically be equated with the date on which the electronic invoice is created or sent. Under the Rules for Issuing Invoices, the issue date is shown separately: the system automatically completes line 2 when the document is registered and sent to the recipient. It corresponds to the current calendar date. Consequently, the turnover date and the issue date in the same electronic invoice may serve different purposes and should not be substituted for one another.
The main practical guideline for an accountant is as follows: first, determine the business event and its corresponding date under the rules of Article 460 of the Tax Code, and then enter that date in line 3 of the electronic invoice (Article 460 of the Tax Code of the RK). It is incorrect to select the current date merely because the document is being sent today if the turnover date for the specific transaction is determined differently.
Turnover Date: How to Complete an Electronic Invoice
Before completing an electronic invoice, the accountant should consistently review the source documents and the nature of the transaction. For goods, work and services, the turnover date is determined under Article 460 of the Tax Code, so a single universal reference point is insufficient for all business situations (Article 460 of the Tax Code of the RK).
The practical procedure may be as follows:
- determine exactly what was sold: goods, work or services;
- establish which event confirms the sale in the specific transaction;
- compare this event with the source documents and the terms of the agreement;
- determine the turnover date under Article 460 of the Tax Code (Article 460 of the Tax Code of the RK);
- specify the resulting date in line 3 of Section A of the electronic invoice;
- separately check the issue date generated by the Electronic Invoice Information System when the electronic invoice is sent.
This procedure helps avoid confusing several dates that may appear in accounting records and documents: the agreement date, the date of the document confirming the supply, the turnover date and the electronic invoice issue date. The electronic invoice form provides different fields and sections for them.
In particular, the Rules provide for a separate section containing the details of documents confirming the supply of goods, work or services. The mere presence of a date in such a document does not mean that it can be automatically entered in line 3 without verification. The decision must comply with Article 460 of the Tax Code and the circumstances of the transaction (Article 460 of the Tax Code of the RK).
Turnover Date for Services: What to Check
The query “what is the turnover date for services” cannot be reduced to the formula “the date of the completion certificate” without considering the specific transaction. As a general rule, the date of completion of work or provision of services is deemed to be the date of signing specified in the certificate of completed work or services rendered. If there is no certificate, the signing date specified in another document, other than an invoice, that confirms the completion of work or provision of services and is drawn up in accordance with the legislation on accounting and financial reporting applies. Article 460 provides special rules for certain transactions (Article 460 of the Tax Code of the RK).
Before sending the document, the accountant should check:
- the subject matter of the agreement and the period during which services are provided;
- the documents used by the parties to confirm performance;
- whether there are any special conditions for accepting the result;
- whether the selected date complies with the rules for determining turnover;
- whether the date in the electronic invoice is consistent with tax accounting records and source documents.
If the agreement provides for long-term, periodic or phased provision of services, the date should not be determined solely by the title of a single document. The actual circumstances should be compared with the general and special rules for determining the turnover date established by Article 460 of the Tax Code (Article 460 of the Tax Code of the RK).
Special attention is required when correcting a document. Under the Rules, the turnover date in a corrected invoice is determined based on the date specified in the cancelled invoice. Therefore, correcting an electronic invoice does not mean that line 3 should be replaced with the date on which the corrected document was prepared.
What to Check Before Sending
Before signing an electronic invoice, it is advisable to perform a brief reconciliation check. Line 2 should show the issue date, which the system completes automatically, while line 3 should show the turnover date determined by the accountant. The supplier determines the accounting system number independently, but it also does not replace the turnover date information.
If the Electronic Invoice Information System reports an error, it is important to read the message literally and check the specific field to which it refers. For example, an error in the registration date does not prove that the turnover date was determined incorrectly. These are different details. The value should be checked against the registration documents, after which the remaining electronic invoice fields should be reviewed again.
A separate rule applies to public procurement agreements executed under the relevant pilot project. The supplier or subcontractor enters information about such an agreement in the “Electronic Agreements” module of the Electronic Invoice Information System. The agreement must be entered no later than the turnover date specified in the electronic invoice for sales under that agreement. The system specifies, among other things, the agreement number and its conclusion date, and the parties sign the agreement with an electronic digital signature.
Thus, the turnover date affects more than the completion of line 3. In cases stipulated by the Rules, it also determines the deadline for entering the agreement into the Electronic Invoice Information System. Before sending the invoice, the accountant should ensure that the agreement details have been entered in a timely manner.
Frequently Asked Questions
Is the turnover date the electronic invoice issue date? — No. The issue date is specified in line 2 and is automatically generated by the system when the electronic invoice is registered and sent. The turnover date is entered separately in line 3 and is determined under Article 460 of the Tax Code (Article 460 of the Tax Code of the RK).
Where is the turnover date specified in an electronic invoice? — In line 3, “Turnover Date,” of Section A, “General Section.” This line is mandatory.
Is the turnover date for services always the date of the completion certificate? — As a general rule, the date of provision of services is deemed to be the signing date specified in the certificate of services rendered. If there is no certificate, the signing date specified in another supporting document, other than an invoice, is used. Special rules apply to certain transactions stipulated by the Tax Code (Article 460 of the Tax Code of the RK).
Should the turnover date in a corrected electronic invoice be changed to the current date? — No, the mere fact that a correction is being prepared does not constitute grounds for such a replacement. The Rules link the turnover date in the corrected electronic invoice to the date specified in the cancelled invoice.
What should be checked in the event of a date-related error? — First, determine the specific field to which the system message refers. The registration date, issue date and turnover date are different indicators, so each must be checked against the relevant documents and rules.