How do I Log a payment

How-to
1

I’m very new to QuickBooks and accountancy.
My wife is set up a baking business at home and she has just sold her first birthday cake.
The client paid via bank transfer.
What do I do to log the payment in QuickBooks
thank you

2

Hello @jkeep123

You can create a bank transaction and tag it.

View your bank account in QuickFile > Create > Enter the date, Description, Value and select Money In/Money Out

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What you would tag it as would depend on what you have already done (e.g. have you already created an invoice)

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More information can be found at the link below
https://support.quickfile.co.uk/t/tagging-your-bank-transactions/8818

3

Hi,
I haven’t made an invoice for the client should I or should I just lock the money as it comes into the bank account? Customer pay via bank transfer?

4

Hello @jkeep123

Was an invoice issued?
Do you have to report any vat to HMRC?
Are you going to be storing your Invoicing records in QuickFile?

5

Hi Steve,
No, it’s just a basic sole trader earning probably £100 - £200 a month if we’re lucky, we just want to keep things above board with HMRC.
Basically, if someone orders a cake from my wife, she will take a small deposit via bank transfer then the rest via bank transfer before collection so we just want to keep things as simple as possible

Kindest,

Jeff

6

Hello @jkeep123

  • Record the bank transfer As I mentioned
  • Tag it as “Something else not in this list”
  • Make sure 4000 is selected > Save

This method would not record any customer details other than what you enter on the reference

Alternatively

  • Record the bank transfer As I mentioned
  • Tag it as “Payment from a customer”
  • Create a new invoice for this receipt
  • Create New Client
  • Enter the details > Save
7

Thank you, Steve. I will give that to go when the kids are in bed.

Kindest

Jeff

8

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