Nominal code

Support
1

Hi
is it possible to use a nominal code for a sale through my till and then use the same nominal code to make a payment out of the bank thus creating a figure left over which would be my commission given to me

2

Hi @Howard_Bevis

This is possible, although I would like to know a bit more about this first.

With the payment going out, do you receive an invoice for this (a purchase invoice)?

3

Hi Matthew
This is for paypoint transactions and each day I receive a reading out of my paypoint machine which I make sure equates with my till reading for the day having done this I enter that as a sale. Four days later that will be taken by paypoint from my bank account. Once a week paypoint will take the d/d less my commission for that week and I get an invoice for the commission. Sorry for being a pain but have been using sage and am trying to make sure that quickfile does everything that I need it to do before changing over

4

Hi @Howardbevis

Unless I’m mistaken, I think this would just be a simple case of recording your sales and the PayPoint invoice as you would normally.

  1. Money into your bank account/petty cash (however you record it)
  2. Money out to PayPoint for their invoice

In which case, you would set PayPoint up as a supplier and tag the payment to a purchase invoice.

Let me know if I’ve not understood correctly and I’ll happily take another look for you.

5

Hi Matthew if we did it that way it would be treating it as a sale not a commission based sale and that would dropped drop my GP down as the maximum commission I can make is 7p on a transaction and my turnover is over ÂŁ4000 a month for paypoint

6

You could create a new nominal code in the Sales range (4000-4999), called something like “PayPoint Income” in the Chart of Accounts report (Reports >> Chart of Accounts).

image
image813Ă—34 2.22 KB

Then click the little cog on the right, you’ll see an option to enable it for purchase invoices too

image

This will allow both sales and purchase invoices to use the same code. By doing this, they will cancel out and the balance of this code will be the commission.

Although this is an open forum, so someone else may have a better suggestion

7

Brilliant thanks for your time and help

1 Like
9

This topic was automatically closed after 7 days. New replies are no longer allowed.