Shop like help needed

Support
1

Hi, can I firstly explain what I’m doing and then tell my problem.

I repair a customers TV and they come into pay, so I make a new invoice and marked it as “paid in full” as they need a receipt.
I give them the receipt and all is good.
Except when we go to match things against the bank statements it say that there are no “unpaid invoices” which is true because they all have been paid but how can I match them up?

Regards Lee.

2

Hi @lee069

I’m assuming when you create the invoices for your customer, you’re printing the invoice (or payment record), and logging the payment there and then?

If the bank statement entry is a duplicate, you can simply delete it. Providing the bank balances (e.g. the balance on QuickFile matches the real balance), it shouldn’t cause you any problems.

Hope that helps!

3

Are your customers paying cash, credit card, or both?

4

Hi, 98% pay by credit card. I can see where the problem happens it’s because the customer wants a receipt but the money doesn’t really hit my bank account for approx. 3 days.

Sorry for swearing but when I use QuickBooks you use to match invoices with the bank statement, but I don’t seem to be able to do this as it says there are no unpaid invoices.

Thanks for your time.
Lee.

5

Hi Lee,

In that case, do you have a C&P machine in your shop? If so, here’s what I would do:

  1. Create a new bank account for your machine provider (e.g. “Card Transactions”)
  2. When someone pays by card, log the invoice as paid from that bank account
  3. When the money hits your bank (which would be the invoice total minus the fees), tag it as a transfer from your card bank account
  4. You should be left with a small amount in the card account which would be the transaction fees - you would tag these to another invoice to the card provider, to the category “Bank Charges”

Hope that makes sense :slight_smile:

[Edit]
Take a look at this topic on how to handle card transactions and accounting for fees
http://community.quickfile.co.uk/t/handling-payments-from-merchant-accounts/8865

1 Like