Following the topic of the same name (less the word subsequently) from James-5 11 days ago, I have a query on assigning payments on account.
I understand how to pay an invoice from a the total credit on the account. However, the total credit I have on this supplier is £905.20 (which includes 5 x £88.80), the invoice is £1,065.60. There has been a credit note of £444 applied already so there is £621.60 outstanding on the invoice.
I want to assign only the 5 x £88.80 to this invoice thus still leaving £176.60 outstanding on it.
How do I do this?
(with other systems you can subsequently assign any payment on account to any invoice but I cannot see how to on QF)
QuickFile doesn’t let you do this, it has an “apply from credit” option but it will always assign as many credits as possible to the invoice starting from the oldest until you either run out of credit or pay off the whole balance.
The workaround would be to manually log a payment of (in this case) £176.60, to any bank account, then go to log payment again and this time “apply from credit”, then delete the £176.60 payment. This won’t necessarily apply those five specific payments unless they happen to be the oldest credits on that account but it will leave you with the right totals.
Many thanks for such a quick response to my query Ian. And for a clear explanation of the workaround which I completely understand. On this instance I think I’ll just leave everything on account until I have all the payments for the current invoices (o/s payments will be via DLA so I’ll clear the balance very soon).
Question to QuickFile:
Are you going to introduce the functionality I’ve asked about? It is common on other software and a proper accounting treatment rather than just assigning the oldest credits first which isn’t necessarily accurate and can really mess up a transaction history and a supplier account. Many thanks.