How do you record a monthly direct debit without having an invoice. For example if you take an insurance with DIRECT LINE and they just send you a schedule of payments. How would you record them as you are not supposed to create an invoice ?!!
What do you mean by you are not supposed to create an invoice?
I have been told that I should impact my P&L by tagging the expense directly from the bank transactions and not create an invoice in the system if I don’t have an invoice in hand.
i.e.: If I receive an invoice form my supplier I create a purchase order and then make a payment
if I don’t have an invoice from my supplier I create a payment without a purchase order…
However, It is a problem because I can’t set up regular payment neither I can track payment history.
I wonder if I should not create a purchase order whatever expense I do ?
Please help !? (I am a bit confused)
You should normally have an invoice for this and even without one I would still post to an invoice on QuickFile.
You can however tag these entries directly from the bank without an invoice, what you would do is select the option “Something else not on this list” and you will then be presented with a list of nominal codes you can post directly to.
Thank you for your answer. That make sense to log a purchase even if you don’t have an invoice… but I was not sure about it. Thank you. regards