Faster Payment to Customer Q

Hey folkies.
Got my first complaint and I’m going to need to send a faster payment to a customer of £100. My plan is to transfer it from my personal into my sole trade as drawings.

How do I label the transfer to the customer? Can I transfer it and tag it as drawings both times?

Thanks for the help in advance. Your all super amazing on here.

Yes. Mark the transfer to your account as drawings. Then mark the invoice as paid from drawings.

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Thank you. Your always such a great help @Paul_Courtier its much appreciated!

Have a lovely New Year Weekend to you & your family.

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Unless I misunderstood, I don’t think there was an invoice to tag as “paid from drawings”?
I would raise a credit note to the customer, then tag the payment to them as a refund against the credit note. This ensures the payment to them is recognised on your P&L as a refund.
The transfer in to the business account to cover the payment can be tagged as funds introduced/drawings.

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