Hello. I have a property business and during a recent void was responsible for utilities. I paid by DD. Two payments were taken but were much more than the final liability and so I received a refund.
I have posted the charges as purchases. And have tagged to two payments to the supplier. However when I try and say that the refund is from the same supplier I get the following message “No qualifying purchases could be found to refund against. Make sure the corresponding purchase has been logged before you attempt to process this refund.”
I know that all amounts are correct as the total of the purchases equals the net of the two DD and receipt. How do I tag the bank receipt so that it is posted to the utility supplier account and all nets down to zero.
Thank you for your prompt response but I’m not sure this works. In round numbers, the invoices are for approx £35 in total, let’s say £15 and £20. The payments were for £100 and then £10. The refund is for £75. Am I able to credit invoices for more than the face value of the invoice?
Credits and refunds are one of the pain points in QuickFile. The situation you describe you should have a prepayment balance of £75 on the supplier’s account, so usually what you’d have to do next is find the part-unallocated payment (via the supplier’s detail page, view all payments), and when you click through to the relevant payment there’s an option to “refund balance”. Select the relevant bank account and date here and it will create a pre tagged money in transaction representing the refund, and you can delete the duplicate untagged transaction that came from your bank feed.
However you can only “refund balance” on a single payment at a time and the refund can’t be for more than the unallocated value of that particular payment. If you recorded two payments of £100 and £10 (in that order), then created the two purchases of £15 and £20 and marked them paid via “apply from credit”, then given how QuickFile always uses the oldest payment first you will likely have £65 unallocated on payment 1 and £10 unallocated on payment 2. If you refund the two balances separately then you’ll get two refund transactions adding up to £75 rather than one £75. That’s fine from an accounting perspective but if it bothers you then you’d have to detach one of the purchases from the larger payment to get the unallocated balance over £75, then do the £75 refund, then “apply from credit” again (which will use up both payments).
Ian Thank you. You’re correct the process is a bit tortuous but your explanation was very clear thank you. I even found some functionality I wasn’t previously aware of. Balance sheet post these adjustments now looks correct.
To resolve the error, tag your original overpayments as “unallocated credit” rather than direct invoice payments. This allows the system to recognize the £75 surplus, which you can then link to the bank receipt using the “Refund from a Supplier” option.
Thank you for your message. I used a different option suggested by someone else which did manage to fix the issue. Next time I encounter the same problem I will try your solution below. Many thanks