Morning we recently attended a small claims case wherein it was agreed we had to pay the other side. How do we tag this entry on quickfile? We would have issued an invoice for the works approximately 5 years ago which was paid in full?
Hi @JDFab
Unfortunately, the support staff at QuickFile are not qualified accountants, so are not always able to give advice.
In this case, we would recommend talking to your accountant who would be able to offer tailored advice.
I will leave this thread open because there are accountants who use QuickFile and may be able to offer you advice.
Probably create a new nominal code as a one off…say 7810 and name it Small Claims. Reports/Chart of Accounts/Create New Account/Enter Specific Code/7810/Small Claims.
The bank payment can be tagged “something else” and be as descriptive as you need.
This way, your accountant will see this one off item.
Hope this helps
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Thank you ive created a small claims proceedings code under assets & liabilities.
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