Draw downs versus creating new invoice

I have noticed that the accountants Invoice which was entered 12 months ago should have had a regular payment drawn down on that invoice but has in fact been allocated to a new invoice number each month. How can I change this so that it reflects how much of the invoice has been paid?

I have spoken to my accountant and she recommends that I don’t enter this years invoice but claim the VAT back on my money DD’s to keep in line with other payments. How do I allocate this monthly to the supplier without creating an invoice as I want to see a credit at the end of the year? thank you.

Sorry I’m confused as to what you’re asking here?

You can either enter one large invoice for the full year and lodge payments against it every month or for every monthly installment paid enter one invoice and one matching payment. If you are on cash accounting for VAT it will make no different which method you use.

Once the payment to your Accountant is showing on your Quick File Bank Account, by either entering it manually, importing the bank statement or automatically by using bank feeds, simply tag the payments as follows:

  • Click 'Tag me!’ to tag the payment made to the Accountant on a monthly basis.

  • On the next screen select 'Payment to a supplier’ followed by ‘Pay down multiple purchases or assign to a supplier account’.

  • Now either click ‘Save’ if there are no unpaid purchases found for this supplier OR tick ‘Payment on account (Assign later)’ if there are multiple unpaid invoices.

  • You can also check the box ‘Create a rule to process matching transactions in the same way’ to automate the posting of similar future transactions.

The balance will now be available as credit on the Accountants supplier account and can be used to pay the invoice in the future.

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