How to Log partial payments

Support
1

Hi
I’ve just started to use QuickFile for my new company but only as a backup - I have an accountant. I want to learn how to do proper book keeping. I have some old invoices from April and May (from the seller - original .pdf’s) and that I’ve just created them in the quickfile.

Now I need to log payments but I got few issues.

  1. My first deposit payment was made from my private account (as didn’t have business account yet that time). So if I tag the invoice as “paid in full” do I just put some notes at the bottom of the invoice?
    Invoice was actually paid from Director’s Loan Account (30%) and the balance from Business Account.

Fortunately that is the only situation when Director’s Loan is involved, but I all my purchase invoices are paid on that basis (30% advance and then 70% balance).

So One invoice is never paid with one single amount. I buy most of my staff from that supplier.

Regards

2

You can log incremental payments against invoices, you just need to specify the amount you want to pay in the log a payment dialogue on the invoice preview.

If you paid a part of any invoice from personal funds, you just log that part of the payment as coming from the DLA.

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3

Thank you.

However I have another problem. Purchase invoice is in EUR.

I have paid 30% deposit through the broker (€1500=£1098.80 on 30/04/2015) from my private account.

I understand DLA part, but Log A Payment window tries to exchange €1500 through XE rate on that day and it does not match.

I also see that I can manually update £ equivalent of €1500 on that day and that exchange rate then will update.

Is that the way to do it?

Regards

4

Yes it will then infer the ex-rate from the difference.

5

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