I have a client I recently completed some work for. The work was to be paid in EUR, I also encountered expenses in CHF and GBP which were to be paid by the client.
I sent 3 invoices to the client, one in each currency as the VAT rates and various other things were different. The client has helpfully paid all invoices in a single bank transaction. I cannot seem to find a way to pay down all of the invoices from this transaction.
I can allocate it directly to any one of the transactions but that then seems to prevent me from paying down the others from the client account. I can allocate it directly to the client account, which I can then pay down the GBP invoice from but not the EUR or CHF invoices.
Am I missing something here or is this just more difficult than it needs to be?
Thanks in advance!
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I’m pretty sure QuickFile won’t let you split a single transaction across multiple currencies, or to allocate as payment in one non-GBP currency to an invoice denominated in another. So you’ll probably have to split the single EUR transaction into two:
- one for the value of the EUR invoice, tagged to pay off that one
- one for the rest, which you’ll need to tag as a transfer from a GBP bank account such as your drawings or director loan
You’d then mark the GBP invoice as paid into the same GBP account, and finally mark the CHF invoice as paid into the same account, setting the GBP value to whatever is necessary to exactly offset the amount of GBP that went out for the original EUR transfer.
I’ve faced this situation before. QuickFile doesn’t let a single transaction in one currency pay invoices in multiple currencies directly. The easiest way is to split the payment: allocate the portion matching the EUR invoice to that invoice, then treat the remaining amount as a transfer into a GBP or CHF account. From there, mark the other invoices as paid using the transferred amounts. It takes a few extra steps but ensures each invoice is cleared correctly.
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