How do i put gocardless payments in to quickfile for example i have had a nightmare over the last 2 months trying to sort out it because i have loads of single payments coming in each month. I have finally changed everyone’s date to the 1st of each month which should make it easier for 1 of transaction from gocardless to my bank.
My question is how do I enter the amount in for example if my payments are 5k on the 5th of the month when they pay out and its £100 less for example. How would i work all this out? with the vat aswell? I cant work it out sorry. My accountant isnt to sure aswell.
The basic idea is that you have a dummy bank account that represents GoCardless - you mark your customers’ invoices as paid in full into the merchant account, the payouts that you receive are transfers from the merchant account to your current account, and the difference (their fees) is accounted for as an expense paid from the merchant account to balance things up.
The “payment from a customer” happens when GC collects the direct debit, not when they send the net settlement to you.