Credit or Pre-Payment

Hi,

We overcharged a client last year & this has only now come to light. I’ve therefore created a Pre-Payment to reflect this. I will now need to deduct what they spend each month from that pre-payment amount I would have thought but can’t see how to do that. Is this possible or waht other way would you suggest I can do this on Quickfile?

Hi @Fotofabr1c

Can I just check, when the over payment was made last year, how was this tagged in your QuickFile account?

Hi Matthew,
May so in this FY. It was only just picked up in December so I have created a Pre-Payment as of this morning with the payment date of May 2019

Kind Regards

Ian

Hi @Fotofabr1c

Ok, great. This should now show up as a prepayment on the client itself, similar to this:
image
When it comes to the invoice and paying it from the prepayment, from the invoice preview itself, click Log Payment and you should see an option to “apply from credit”:

I must be doing something wrong. When I try to click in the view I have nothing appears, have I entered the prepayment wrong?

It looks like the prepayment is there all OK.

Where are you clicking and what are you expecting to see?

I’m clicking on the prepayment block but there isn’t an invoice in the panel below it. I’m expecting to see something that I can alot a payment to but nothing appears I’m afraid.

The prepayment itself isn’t clickable, but if you go to View >> Payments and do an advanced search for “Unallocated” payments, this will list where the prepayments come from.

But the outstanding invoices would appear on the same page as the client details, just further down, just below from where your screenshot came from:
image
It’s when you go into these invoices and preview them, will you see the “Log Payment” option.


Edit
I’ve asked for the figures in the prepayment box to be clickable to make this a bit easier to navigate.

Screenshot removed_

I can only see the amount in the payements lists but when I open the payment there isn’t anywhere that I can actually log a payment…Did I do somethimg wrong when I raised the prepayment do you suppose?

Screenshot removed

It’s already been allocated to a payment. In the second screenshot (which showed the payment details), if you click the “View Bank Entry” button at the top of the page, you will see the entry in your current account for this.

I think we need to go back a few steps here. When they overpaid, how was this recorded on QuickFile? If it happened in May 2019, do you have an untagged bank transaction for that amount there? Or was there one greater than the value of an intended invoice? Knowing how they made the overpayment, or more of how it was recorded when it happened, will hopefully start things off on the right foot.

Note: I’ve removed your screenshots as they contain client details.

Yes I think that you are right. Here’s what I intended. Customer paid an invoice which included delivery but they collected it from us. This only came to light end of Nov start of Dec. Therefore, until he has accrued the amount that we owe him I need to account for this. What would be the best way to deal with this?

Ok, so they’ve been invoiced for the delivery and they’ve paid it already? And this has been accounted for (as in, the invoice which includes it, has been paid in full)?

yes that’s correct Matthew.

Perfect.

  1. So firstly, locate that invoice that they’ve overpaid on.

  2. When viewing the invoice, go to More Options >> Credit Note
    image

  3. Sort out the details on the credit note (e.g. what nominal and items you’re refunding), for example:

  4. When you save the credit you will be prompted to say whether you’re refunding them, or just holding the prepayment on their account:
    image
    Selecting “Hold funds on client account” will simply transfer the credit note value to a prepayment on the client’s account so you can then use it to pay down future invoices.

The prepayment will also show up in the list of payments from the client:

Let me know how that goes?

Thanks Matthew. So I should delete the prepayment that I raised & follow your instructions above?

Yes. The above process will basically refund the delivery charge you originally charged and hold the funds on account. In effect, it would double the prepayment on the account. Deleting your manual entry should correct that.

Thanks Matthew I’ll give that a go.

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OK so done that. Can’t see anywhere on that where I can deduct value of invices away from that or am I doing something wrong. It turns into a credit note so is that correct?

Correct. So the credit note can be sent to your client if you wish, just for their records.

To use that credit on a future invoice, view the invoice you want to deduct it from (as in preview the invoice so you see all the details on there), and then click the “Log Payment” button at the top, and you’ll see an option to “apply from credit”, similar to this: