Can you please add the option to put a credit note on a supplier account that can then be allocated to more than one invoice? I have a credit note that needs to be allocated to three different invoices and QF does not allow me to do this. It keeps asking me to refund the amount through the bank which is incorrect.
We don’t currently support this I’m afraid. However, there are 2 ways of achieving this.
You could create the 3 separate credit notes. Or the other option is, to refund it to a holding bank account (create a new bank account), refund the transaction there, and then tag the payment back as a prepayment to a supplier.
So essential, with the second option, you would create a bank account and call it something like “Holding Account”. Then create the credit note and refund it to this bank account. Then create a balancing entry (the same value going out) and tag it as a prepayment to a supplier by using the Pay down multiple invoices or hold on account option.
Hi, the problem with both of these is that the client gets audited by an American firm once a year and they will not like either of these methods as the information on our ledger will not match the information on the supplier ledger.
@matt.gilmore - If you create a credit note for each of the invoices and select the “Hold funds on account” option, there’s a trail left on the account, including links from the original invoice to the credit note.
When credit noting funds to a supplier’s account, the original invoices need to exist. So creating the 3 credit notes from the 3 original invoices is the best way to handle this.
Of course, if you have any queries relating to this, then by all means ask away and we’ll try our best to assist.
Again this does not resolve this issue as only one credit note has been received from the supplier which then needs to be offset against 3 invoices, creating 3 credit notes is not correct as we have not received 3. The correct way to resolve it is to be able to add the credit note and then offset it against multiple invoices. Any other way is not correct and will not look good for our end of year audit.
Unfortunately it’s not possible to use one credit note on QuickFile and assign it to multiple invoices at this time, but we will monitor the interest in this request.
The only way to achieve this at the moment is one of the two options I listed above:
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Credit note each of them (use the same supplier reference on them so they you’re referencing the document issued by the supplier). Refund each of them back to the supplier and hold funds on account. Or,
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Create a new invoice with a negative value (representing the credit note you’ve received). Refund it back to a holding account where you can either leave them until a new invoice is issued, or assign them to a supplier as a prepayment.