Any advice on how to clear old prepayments other than producing an invoice or refunding??
The reason i ask is that i have recently started at a company and previously the accounts were not allocated correctly, lots of random payments were made on account and then when it came to tagging the payments they very rarely matched and balances were left unallocated. Some of these unallocated balances are over a year old so will not physically be there in cash if we refund them.
The problem i have, is i have started paying the exact amounts we owe suppliers and providing remittances so all payments made balance with oustanding invoices. When i went to tag a payment (that matched to the penny) i was left with £318.60 unallocated which i was totally baffled by as on my spreadsheet it matched. I went through it found the payment for some of the invoices had been allocated to an old payment we made a year ago. This payment is locked to a VAT return and i never selected to use unallocated balances when tagging, i only selected the recent payment we made, but somehow Quickfile has allocated some of the invoices raised in 2022 to a locked payment from 2021. I have queried this with Quickfile and was told the system will automatically allocate to any prepayments on the account, but this cannot be the case as the prepayment was 12 months and we pay this supplier several times a month sometimes but the old prepayment has only just been tagged to a payment. So i know a balance sat on this suppliers account and no invoice to tag it to. The frustrating thing this has today happened with another account.
Is there any way i can clear these old prepayments that i know are not physically there with refunding? I could produce an invoice to allocate it to but am concerned whether technically this would be correct
Any advise???
Thanks Emma
