Splitting single payment across two projects

[carlofantastico]

Hello,

Is it possible to split an outgoing payment to one person across 2 projects?

I.E a sub contractor did work for two different projects but invoiced altogether.

I don’t suppose it matters too much from an accounts perspective, but I’d like to allocate correctly internally to track project budgets.

Thanks.

[QFSteve]

Hello @carlofantastico

If you tag more than one project the full invoice value will be assigned to both projects.

You could not tag the invoice and add an adjustment to the 2 projects manually and reference the invoice in the reference field

[carlofantastico]

Thank you, the second option sounds good.

Much appreciated

[MHCottages]

Hi QF Steve.
In the case of dividing one invoice across two or more tabs, could you not simply manually annotate the invoice with the tab names and relevant ratio, then enter the appropriate portion of the cost to one tab, and then separately the remainder to the other tab? Creating two separate entries from one invoice?

[QFSteve]

Hello @MHCottages

Unfortunately not, you can only enter project tags at an invoice level not an invoice item line level.

Please add your vote to the the feature request below which I found in the forum

Project tags at invoice item level

It’s unfortunate that when we have a suppliers itemised statement for products purchased over the month, although we can itemise each of the products within a Quickfile ‘purchase’, there is no ability to select individual items for the individual project they may be associated with. This means that we either have to separate each item supplied as a separate purchase or add the items cost’s individually into another calculating program. It would be useful if the ability to separately select ind…

[MHCottages]

Thank you Steve, I have voted as you suggested.

I am new to Qickfile and indeed commercial accounting software in general, having relied on MS Excel for many years. I have yet to be convinced of the benefits of inflexible commercial packages over Excel even though the latter is now ancient and has many spreadsheet competitors that may well be better still.
I might be less skeptical if you could explain what mathematical cross checking systems are incorporated into Quickfile. (I have set up several within my Excel accounts, which have the advantage of being much more transparent. Whereas Quickfile’s calculations seem to be totally opaque.)

Presumably Quickfile will be undergoing significant upgrading to cope with Income Tax as well as VAT before HMRC’s ‘Making Tax Digital’ becomes compulsory for income tax as well. Perhaps then multiple business enterprises and projects will become catered for, as many of the self-employed must have multiple enterprises to make ends meet.
Regards,
Nigel Dobson-Smyth
Manor Holding Cottages
Manor Holding Farm
The Landscape Consultancy
Nigel Dobson-Smyth (Trees)

[QFSteve]

Hello @MHCottages

You may find out Blog on MTD ITSA useful

Making Tax Digital - Self Assessment

The idea of MTD was initially announced by HMRC back in 2015, where key parts of the tax process are moved to a more efficient and streamlined digital process. The first tax to go digital was VAT, and in 2019 we enabled businesses to submit their VAT returns as part of MTD. Initially, businesses with a taxable turnover above the VAT threshold of £85,000 were required to sign up for MTD for VAT. Businesses under the threshold are allowed to do so voluntarily. However, as of April 2022, this wil…