Payment on account against builder's quote

[BKN_Group_Projects]

Hi there

I am planning to use Quickfile to track the expenditure on a house renovation. All payments will be made from one or more bank accounts which will have a live feed.

What is the best way to do the following please?:

1. the builder has provided a quote for the project - is there a way to enter that figure on to quickfile then make prepayments against it with a running total of how much is left to pay off?

2. some purchases are included in the builders quote but we will be paying the subcontractor directly - for example, groundworks are part of his quote, but he prefers us to make a bank transfer directly to the groundworker.

In other situations, we may receive an invoice from the subcontractor which I will pay directly via bank transfer. I presume we will setup the subcontractor as a supplier and upload their invoice to QF. But ultimately, the builder’s quote then needs to be adjusted to take account of the amount paid to the subcontractor.

How will I deal with all this?

[BKN_Group_Projects]

Anyone able to assist with this?

[ian_roberts]

Probably your best bet here would be to use a project tag under Reports → Projects.

You could log the total figure as an adjustment to the project to get it starting off at the total value, then as you tag the various purchases to the same tag the project report should show the “balance” as the running total of how much is left to pay off. You can tag purchases from any number of different suppliers to the same project.