We have been taking payments for shop sales via Sumup since January 24.
At one event one of our members used the Sumup service to ‘pay by card’ for the fact that he needed £40 to cover an expense on the day. The £40 had already been taken via sales on the day so was already registered on the sales sheet indirectly.
I have confirmed via the SumUp daily & periodic reports the sale and the payout for the day. How do I show the £40 element of the total sales for the day having already apportioned the goods sold value? I am not concerned with the fees.
I am concerned about mistakenly double counting or omitting this amount.
Regards,
NDG1944
So someone paid you £40 by card and then took £40 cash out of the till in return? If so then the easiest way to match it all up is to deduct £40 from the daily sales invoice in QuickFile (i.e. record £40 less in sales than the total from the SumUp report), and log the SumUp payment amount for that invoice as the same £40 less, so excluding the “non-sale” entirely.
You’d also record the cash sales into the petty cash account as normal, again ignoring the £40 that was taken out.
This leaves your SumUp holding account £40 down and your petty cash account £40 up on where they should be, so to balance everything up you then manually create a transaction in the SumUp holding account for £40 money in and tag it as a transfer from the petty cash account.
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