What we need from you:
- IBAN/International bank account
- BIC/SWIFT international bank code
- Full address including postal code
- EU VAT Number (if applicable)
If you haven't provided your bank and company details yet, please can you enter them here.
Payments and notice of payment:
- Payments are made within 7 days of departure of the trip.
- Notice of payments made in the week of departure.
Payment advice is normally sent out on Wednesdays for trips departing in the week Monday to Sunday. You can check and suggest amendments if something isn’t what you’re expecting, and payment will follow on the following Monday once you're happy.
eg For trips departing Monday 7th to Sunday 13th June 2021, payment advice will be sent on Wednesday 9th, and payment will follow on Monday 14th.
This payment advice will in effect be a self-billing arrangement. and will have a unique reference number of e.g. MBA PA210606.
The bank payment reference will be this unique payment reference to make it easy for you to match payments to what it's for 😊
UK & EU payments usually clear in one working day, with non-EU payments often taking a few days.
We don't send payment advice out any earlier as we find there are often amendments due to last-minute bookings, accommodation add-ons and cancelations. You can easily view your current booked pax per trip on your manager page.
The payment amount will be as agreed in your commercial agreement, which if you've not got it to have can be found in the 'Documentation' section of your company page.
How the invoicing works:
Due to our agency agreement, there are two supplies of services as far as the authorities are concerned:
- From you as host to the end customer for the gross sales price listed on muchbetteradventures.com for providing the adventure.
- From MBA to you as host for connecting you with the customer and taking payments, invoiced in the form of commission.
Your supply is the gross sales price to the customer, and under UK law customers doesn't need to be provided with an invoice. You will probably want to raise invoices for your accounts, but whether you can the customers with their invoices will depend on your local tax laws.
MBA will be invoicing you for our commission, any invoice we send to you we will have already collected payment on, so nothing will be due from you. We will usually invoice at the time of booking, as this is when our service has substantially been enacted. Any UK companies we invoice will be subject to VAT on top of our commission. All other countries will have zero -rated VAT subject to the reverse charge.
You will then have the gross sales price to the customer as a sales, then MBA commission invoice as a purchase to reach your net receipt amount.
- Trip price on MBA = £500
- Commission rate = 20%
- MBA will invoice you £100 for our commission, VAT subject to the reverse charge
- MBA will create a payment advice for £400, which you can check and amend, then MBA will pay the amount over.
- You can invoice the end customer (or just create the document) for £500.
For your accounts/tax you will then have £500 sales and £100 cost of sales giving you the £400 net sales you would have previously.
Hopefully this is clear and all makes sense, but if you have any questions please ask.