Refund from a supplier to apply to all previous invoices

I run a franchise and pay a monthly franchise fee. Now my franchisor has found an error in his fee invoices for the last four years and has sent a refund cheque for the total. The refund should be applied in a small proportion to all his invoices expanding up to four years back. I can’t tag the payment in the bank account as QuickFile warns that there isn’t any invoice for that amount. How should I proceed with this payment?

On review of other topics it seems that the answer is as in “Overpayment, tagging cash return” Overpayment, tagging cash return

Is this correct?

Is there any VAT on the refund?

Yes, but it is nof a problem as I am in flat rate. Is this correct?

That’s correct, then you can use the method in the link from your previous post, although make sure to select the same ‘Post to Account’ that you use when logging the monthly franchise management fees.

Thank you Joe. Excellent customer service as usual from Quickfile.

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