Hi, I have a query regarding logging purchases. We make ad-hoc purchases such as client entertaining etc and so these can often be one off purchases… There is not always an invoice, only a receipt and we may not make these purchases again and so would prefer not to set up supplier details as we may then end up with 100s of supplier records which are not in use. Previously using Sage I would post transactions like this straight to the nominal ledger, however trying to do this is Quickfile an error message appears which I think is saying to record transactions in this way will not account for vat, when obviously I need to do so.
Can you please clarify for me whether I can or can not post transactions straight to the nominal ledger from the bank account whilst also recording the vat element.
Using a supplier invoice would be the best way to do it. However, I believe you should be able to use a generic supplier (such as “Client Entertainment”), which would still allow you to record the VAT etc.
The important parts are the original document (whether that’s paper or digital), and the values of the transaction.
For VAT accounting in QuickFile they do need be assigned to invoices. From bank tagging much of this is automated for you and you can, as @QFMathew mentions, use generic supplier records. e.g.
We set up a “Misc Purchases” Supplier that we use for the one off/adhoc purchases, then when we add the receipt we put the company name as part of the Description and ensure that the Item is placed in the relevant category for that purchase
I realise that this thread is a few days old but for anyone who finds this later…