Hi,
I’ve tried searching on this topic but the suggestions don’t seem to work for me.
We recently switched accountants. Our old ones used to bill us by direct debit monthly. These were tagged from the business current account and an invoice created from the transaction. They have refunded an amount to our bank account, pro-rata, that we had built up in our account towards next years company account filing.
I’ve tried creating credit notes from the last couple of monthly bills but I can’t seem to find a way of tagging the refund payment against these.
Can anyone recommend the correct way to manage this so my VAT and P/L are updated correctly?
Many thanks
Paul
Hi PaulHersham,
Do you mean the amount of refund is bigger than the individual invoices and you are not able to create a credit note because of this? One solution could be to create another (dummy) bank account within quickfile where you transfer the refunded amount from your current bank account. On this dummy account you split the transferred amount in smaller amounts so that they are the same or smaller than the individual purchase invoice. After that you should be able to tag the smaller amounts as refunds to the purchases.
You should be also able to do this from the purchase invoice view: click More Option and Credit Note
and tag it from there to the dummy account.
Hope this helps
Hi RHC,
The refund is for £480 and i have several invoices for £153 (one per month) that I want to credit the £480 against.
Ok I can see what you mean with the bank account solution, but it seems a bit of a strange way to deal with it. I assume the problem is that Quickfile can’t credit multiple purchase from one payment (unlike normal invoices and payments against them).
Thanks
Hi PaulHersham,
Yes, that’s right and it was discussed many times before in the forum. At the moment, I think the described method above is the best solution and involves only a few steps more.
I found this post (below). It is not your situation but at the end quickfile mentioned that they are looking into it.
Maybe it is working for you as well and worth waiting for it a few days
I would suggest the simplest way to handle this would be to open the new purchase invoice screen and enter an amount for -£480. This will trigger a refund and you can select the bank account you want to allocate that to. You will then end up with two entries on your bank account for the refund, but you’d then just delete the untagged one.
