How to assign multiple payments to one big reciept?

Accounting
1

Hi all,
I have one big receipt from a supplier after purchasing goods multiple times, i.e bought 2 widgets yesterday, 3 widgets the day before 5 widgets a week ago…etc, each purchase has a separate receipt but I get sent a large summary of my purchases, is it possible to assign the summary as a receipt for all the widget purchases that show up in my bank?

So for clarity I have a summary of all the goods bought and totals £xxxx in the bank I have multiple purchase each totaling £x, how do I do the tagging?

Kind regards,
Simon

2

Hi @aesaccounts

If you have multiple purchase invoices, you could upload it to one and then use the ‘Use Existing’ option on the others.

With the tagging, providing it’s all for the same supplier, you can use the multiple invoice option.

Firstly, click ‘Tag Me!’ and select ‘Payment to a Supplier’

Then use the ‘Pay down multiple invoice’ button:

Then simply follow the steps on your screen.

It’s worth noting that you don’t need to upload your summaries or statements to QuickFile - the main documents are invoices that have been issued to you.

Hope that helps!

3

Thanks for the reply, its just that I am lazy, I have amassed 31 receipts for one particular supplier in one week, now I can down load a summary of all my transactions with them so can do all those entries under one summary or do I really have to enter every receipt? that will be around 60 for one week!

4

You can lump them together as one invoice. The important thing to be sure of is not to cross accounting or tax years, and to assigned the correct items to the right nominals.

In the case of having multiple invoices from one supplier, you can normally have a description of something like “Stock purchased w/c 6th June 2016 (See attached for details)”.

So when you do create the invoice, be sure that:

  • You have the supporting documents should HMRC ever ask to see them.
  • The nominals are correct
  • The VAT is correct (providing you’re VAT registered)
  • It’s not split across 2 accounting years

Hope that helps :slight_smile:

1 Like
5

Great, thanks for the advice :slight_smile:

1 Like
6

No problem.

I should add, I’m not an accountant, so it may be worth just double checking with one.

Have a good weekend!