Hello, I have a problem. I noticed a while ago that the balance of my uploaded quick file bank balance was different by a large amount. I printed out my real bank balance and checked against QF. It has turned out that a lot of entries have been doubled up, ie entered from paid invoices as well as directly from the bank. I have deleted all the double entries and now my bank agrees with my uploaded QF bank, except that I now ‘owe’ £12000.00 according to the dashboard, when its already paid. How do I account for this please? I cant say all invoices are paid because it will screw up the bank again. Thanks, Donducé. Also, if I go to a shop and pay by card, it creates one entry on the bank, yes. When I pay the purchase order and enter the amount and select from bank, it creates another entry on a/c QF hence the double entry??!!
In the bank account, all the items should have red “Tag” buttons. For each of them, press tag, then select the invoice or purchase to which the transaction relates.
This should then reconcile everything correctly.
Going forwards, don’t mark invoices or purchases as paid the moment you enter them. Wait for the payment to show in your bank feed, then tag it to the invoice or purchase. (Or, if you’ve already marked it as paid into or out of the bank account, delete the bank feed item, not the already tagged item)
There is often more than one way to do the same thing in QuickFile. You should mark your purchases as paid either using “log payment” on the purchase/the “paid” tick box in the receipt hub, or by tagging bank entries as “payment from a supplier”, but not both.
My usual way of working personally is to create purchases via the receipt hub without ticking the “paid” box, then tag the payments from the bank side. The only ones where I log payment via the receipt hub or the purchase itself are those where the payment isn’t from my current account (e.g. things where I’ve paid cash).
Thanks for that, only problem is that I have deleted all entries that were double. If i click on money I owe on the dashboard and the list comes up with unpaids, where do I pay them as they are alread paid please? Donducé
Go into the bank account section, and click on the Tag button at the right hand side of the transaction.
Hello,I cant because i have deleted them and the bank balances.
You’ve deleted ALL your bank entries? In that case, just mark each invoice as paid, and your bank balance at the end should match your real bank account balance.
Hi, no, I have only deleted the double entries. With all the unpaid items in the money you owe section, if i was to pay the invoice, where would i pay it to as the invoice is already paid showing in the real bank please? sorry to sound thick!
Go into the bank account itself, with all the bank transactions, and click on tag at the right hand side of each item from your bank. Then attach each payment to the relevant item. This will mark the invoice as paid without a double entry appearing in the bank account.
(Go to the Banking > All bank accounts menu, then click on View for the current account you’re trying to sort out)
I have already done that which is where i found the double entries; is it worth me marking them as paid and then deleting the original entry thus to avoid having two?
No - each bank account entry should have a red TAG button at the right hand side - click this to assign this bank transaction with an invoice. This will automatically flag the invoice as paid, and the tag button will go green and say TAGGED.
If you’re still getting duplicates, you’ve got something else going wrong somewhere - double invoices perhaps?
Ok, but there are no bank entries for the duplicates as i deleted them.
So you deleted the invoice payment AND the bank feed item?
Just mark the invoices as paid from the bank account, this will cause transactions to appear in the bank account as tagged entries, and all should be good.
If not, you might need to get support involved and take a look at your account to see what’s going wrong.
I have just tried something: I have paid a client CASH and put cash not bank account. It STILL showed on my QF bank! So I have deleted it from bank. Any ideas please?
You probably didn’t change the “Paid from” item when logging the payment. If you’re paying cash that you’ve not withdrawn the cash from the current account, this probably should be changed to be Paid from Petty cash. (The default is for payments to be logged to the current account). Alternatively, if you paid it using personal cash, you’d mark it as paid from Proprietor Drawings or Director’s Loan - depending on your company type.
You would then need to withdraw cash from the current account to repay the petty cash account (or drawings or director’s loan). This would be tagged as a transfer between the current account and the relevant account.
Ok thanks, when setting up supplier record, no option for petty cash, it just says cash?
There won’t be. You only select the account it’s paid from when logging a payment against an invoice or purchase.
Got it, I have just altered an outstanding invoice to petty cash. thanks!
Hello, me again. I have just tried to log a payment on the list of o/s unpaid purchases. I have already paid the supplier and now the bank total is wrong by that amount. If i include the payment total will not match. Shall i just delete the unpaid item as if I include them all, the bank total wil be wrong please? All my invoices have been paid by bank transfer. Thanks
Again, don’t “log payment” on a purchase if you’re paying it from a bank account with an automated feed. Tag the feed entry as payment to a supplier and it should give you a list of outstanding purchases that match that amount, select the one you are paying and it will associate the payment with the existing purchase.
If you do log payment on the purchase it will create a new transaction in your bank account for the payment amount. If you have a feed as well this should give you two transactions for the same amount where there should be just one, and it is safe to delete the untagged one.