Our Diving Officer has bought an Oxygen cylinder for use with our club RIB.
He wants the monies, now owed to him, to go onto his “kitty” account and pay for his membership subs which are due by the end of this month.
In the previouse software i used, i would create a credit note in his name, and associate the purchase with Account Equipment. leaving his Account payable with credit to do pay for his subs.
If I would have paid for it, I would raise a PO and attribute it that way. But as he had bought it (last minute deal bla bla…) I would like to reimburse him and attribute the purchase to an expense account. The reimbursement than need to be placed as a pre-payment to his account so that he can pay his Subs. So I’m not sure how to do this.
You can do much the same thing in QuickFile but it has to bridge via some sort of “bank” account (which could be petty cash, drawings/director’s loan/etc. or a dummy account created for the purpose). You’d log the purchase as normal, paid from the selected bank account, then go to the person’s client record and do more options -> new prepayment, and enter a prepayment for the same date, same amount and select the same bank account. The bank account will then show money out and money in on the same day (so no effect on the balance), the purchase will show as paid and the client account will have credit you can apply to future invoices.