Using Polar for a business - matching payouts with invoices

[svlandeg]

Hi, thanks for this awesome initiative!

I'm considering using this for my company, which is a VAT-registered entity in Belgium. I read that Polar deals with the income tax but I'm still confused how this can then be registered on my end. Every incoming payment for my company needs to be matched with an invoice, which contains the "client"'s address and VAT ID (if it's another business). So would I go ahead and create an invoice with Polar as the "client", using Polar's VAT Irish ID? Or would I receive an overview of each sponsor and whether they are a company or individual, their country of residence and (optionally) VAT ID? Or how would that work exactly? 🤔

[birkjernstrom]

Hi @svlandeg, I'm so sorry for the delay here; I'm not sure why I didn't get/see the notification of this question (I'll investigate that separately).

Yes, we've been doing this manually for now with customers, but will automate it in the coming weeks.
https://github.com/orgs/polarsource/discussions/3998

We'll create reverse invoices automatically that you can use for accounting purposes.

[svlandeg]

That's brilliant, thanks! 🙏

[birkjernstrom]

@svlandeg Noticed I shared the wrong link too 🤦‍♂️

Here is the reverse invoice (self billing) task. I'm starting work on it as we speak.
https://github.com/polarsource/polar/issues/3264

[svlandeg]

Hi @birkjernstrom! It looks like that issue #3264 is put on hold, is this feature not planned anymore? Just checking in as I'm still hoping to use Polar some day 😉