Charging for Quick File - Ledger Entry

Hi, I’m new - so please be gentle with me.

Just a question about the charging rules for Quickfile - I see that it’s based on Ledger Entries - are you able to please confirm what counts? - I understand that Invoices, Payments etc - count … (a) do they count as one entry each? and (b) when I prepare an Estimate, does that count as an entry? © is there anything else that counts (as a ledger entry)?

Many Thanks

Hi @ls999

A. In simple terms, it’s anything that affects your profit and loss or balance sheet. The below is taken from our knowledge base:

B. No. Estimates aren’t included in this count.

C. As above, typically anything that affects profit and loss, or balance sheet will count. This includes bank transactions, invoices (both sales and purchases), journals and payments.

Thank you very much … so just to confirm …

If an invoice is created … it’s then paid (and I enter this in my business current account) this counts as 2 (or 1) ledger entry?

Also if enter a purchase … and then pay for it on a credit card (but don’t actually store credit card transactions on QF) … does this just count as 1 ledger entry?

Thanks again for your help …

Minimum of four if you’re not VAT registered or five if you are:

  • the invoice (purchase)
    • credit general sales for the net (respectively debit general purchases or whatever it is you’re buying)
    • other nominals if the invoice is split across more than one category
    • if VAT registered, credit sales tax control for the VAT (resp. debit purchase tax control)
    • debit debtors control for the gross total (respectively credit creditors control)
  • the payment
    • credit debtors control (resp debit creditors control)
    • debit (resp credit) bank.

Just to add to what @ian_roberts has said, from an invoice preview you can go to More Options >> View nominal ledger entries. This will show you exactly what entries are linked to the invoice you’re viewing.

Many thanks for the replies - I’ll have a look at this later.

Kind Regards

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