I received 2 invoices from suppliers who have very similar names and the invvoices were for the same amount
I paid one of the invoices on January 14th this year, however I updated the wrong invoice as paid.
I then paid the “second” invoice on January 30th which as a result of updating the incorrect invoice resulted in me paying the same supplier twice.
This came to light today when one of the suppliers contacted me chasing payment.
I have since paid him and updated the invoice to show that it was paid today and contacted the other supplier to request a refund for the duplicate payment.
As a result, I now have a payment on quckfile in limbo dated 14th January but not tagged to anything.
I was wondering if someone could advise the best way to tag/handle this payment which is in limbo and then how to offset it against the refund which I am hoping will come?
@FaradayKeynes thank you for your reply.
Just making sure we are on the same wavelength.
So as it stands, for 2 invoices, there has been 3 payments made. 2 payments to one account and one to the other.
So there is an extra payment floating around which knocks my account out of balance.
If I delete that payment and then raise a credit note, would that not send my acount out of balance in the other direction?
Or
would that mean recording the second payment on that invoice as well. and then add a credit note once invoice received to bring it back in balance?
If your 2 invoices are fully paid then any untagged entry for them is not required, delete that and your bank should reconcile. Once you get money in bank then record credit note against purchase invoice and fund received, this will match your QF bank balance with actual bank statement
Hi Paul87,
So, You have supplier A and you paid 2 invoices, one on the 14th and one on the 30th January. Then you have supplier B with one invoice which you paid today. Is that right?
If not already done mark all 3 invoices as paid by tagging the payments you did on the 14th/30th January to the supplier A invoices and the payment from today to the supplier B invoice. When the refund from supplier A arrives in your bank account tag it as refund to the supplier A invoice from then 30th January. Your account should be fine after that.
So is this “spare” 14th Jan payment untagged or is it tagged to the supplier but not allocated to any invoice? If it’s untagged then simplest is to tag it as a bank transfer to “park” it somewhere like drawings/director loan, then when you receive a refund tag that as a transfer back the other way. If it is tagged as a prepayment to the supplier then when the refund arrives you can find the unallocated payment and use the “refund balance” option. This will create a pre-tagged refund transaction, if you have a duplicate coming in from a bank feed then just delete that one to balance things.
@rhc@ian_roberts thank you for your replies. I think I might be best re-explaining just incase im conusing people, probably one of those situations wher eI know what I mean but havent explained very well lol.
So there are 2 suppliers - A and B. Both invoiced me for payments in January. Supplier As invoice was due on 14th and Supplier Bs invoice was due on 30th.
Both invoices were for the same amount and frustraitingly both suppliers have very similar names.
I paid supplier As invoice on the 14th but tagged the payment to supplier B (I use the bank feed and both invoices showed but I tagged the wrong one)
on the 30th it looked as though supplier As invoice was still to be paid so I made another payment
2 payments to supplier A for only one invoice and none to Supplier B
Supplier B then brought this to my attention today and I paid him the money due and requested that supplier A returned the second payment
So essentially 3 payments have been made but there are only 2 invoices.
there is now a payment sitting in limbo waiting to be tagged with (hopefully) a refund of the same amount coming soon
I am unsure what to do with the untagged payment as there is no invoice for it and also the refund when it comes.
sorry if this is what you and @FaradayKeynes have already answered
Payment on the 14th January - detag it from supplier B’s invoice.
Payment on the 30th January - detag it from supplier A’s invoice.
Tag the payment from the 14th January to Supplier A’s invoice.
Tag the payment from the 30th January to a another invoice (create new one) or on account from Supplier A.
Payment from today (which should show up in your bank account in quickfile tomorrow morning) - tag it to supplier B’s invoice.
When the refunded amount from supplier A shows up in your bank account, tag it as refund to the “second” Invoice which you paid on the 30th January, or to the “prepayment” on account.
You can’t tag a transaction as a refund of a prepayment in QuickFile (as frequently bemoaned by Lurch…), you have to refund balance from the payment record itself which will create a ready-tagged transaction duplicating the one from the bank feed, then delete the latter.