Hi - I made a payment to a supplied for £30 less as they issued a credit note the prior month. So the payment was £152, the invoice £182 and the credit note £30.
How do I clear off and tag the payment from the bank. I have allocated payment from the bank to the supplier but it does not give me the option to select a credit note when I allocate the credit.
How did you record the credit note in the first place? If you credited the previous purchase and held the funds on account then you should be able to go into the current unpaid purchase, log payment, and use the “apply from credit” option to use the credit to part-pay this purchase. Now when you go to tag the bank payment use “pay down multiple invoices” and you should be able to match the payment to the now reduced outstanding balance.
I didn’t credit the prior purchase - that had already been paid and they issued a credit not 2 weeks later. So there is one credit note £30 and one invoice £182 and one payment £152.
The most accurate would be to follow the procedure above - log the credit note first by creating it from the purchase against which it was a credit, then use the funds on account to part pay the new purchase.
But a shortcut is to log the credit note starting from the current unpaid purchase, which will reduce the outstanding balance immediately.
Either way you should then be able to tag the bank payment to clear the rest.
Thanks Ian - It actually showed the £30 in the credit allocation! I didn’t notice - So I have cleared off in full now as it included the credit note figure.
Glad you’ve sorted it. QuickFile doesn’t automatically apply credit notes to particular invoices/purchases but this is by design - it doesn’t assume the credit is related to the new purchase (it might be a prepayment for a future purchase, the new invoice might be in dispute, etc.), you have to specifically “apply from credit” if you want to use a credit/prepayment to offset a particular purchase.
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