Hi A client owes us £9899.64 which i have invoiced him for , he also has a outstanding invoice of £200 to pay us
We owe him £1812.00
so he has sent us £8287.64 which is correct to our bank
how do i Tag this
Please explain in simple language as i am a bit thick lol
You can tag receipt and payments to the bank as usual , net effect will be 8287.64
Create two sales invoices, one over £9899.64 and one over £200. You can mark them as paid on the invoice screen which will create bank account entries. Or after creating the invoices head to your bank account (within quickfile) and create to in entries over the same amounts and tag them to the before created invoices.
Then create a purchase invoice over £1812 and mark as paid which will also create a bank account entry. Or go to the bank account and create the out entry manually and tag it to the purchase invoice. Your bank account balance should show now the £8287.64
Hope this helps
Thank you for breaking it down for me i can now follow this
Once again thank you
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