Log a supplier pre-payment

I am sure this is an easy one for the financially inclined but would appreciate a little advice please. I am paying my accountant monthly in advance. At the end of the year he will invoice me his charges in one invoice. The payments are a standing order out of the business current account. How do I tag those, as I do not have an invoice until year end.

Any help appreciated.

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These are prepayments, I.e. payments that are not yet allocated to an invoice. What you can do is tag these payments from the bank, select the option “Payment to a customer”. Then select “Pay down multiple purchases or assign to a supplier account”.

Enter the supplier name, you will then see a list of unpaid invoices (if there are any). The option you want is the last one “Payment on account (Assign later)”.

Once saved the balance will be visible on the supplier account. You can then allocate this to an invoice later.

When the invoice is finally created go to the preview screen and click the button “Log a Payment”. Any credit will be visible in the yellow bank, just tick the box and save.

Many thanks for the clear explanation. Just what an amateur needed

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