Hello. We recently bought a mobile phone for an employee, and a case for the phone. The phone came directly from Amazon, the case from a business that sells through Amazon. It’s come through in the bank feed as one payment, but technically it’s two different sellers - or is it?
How do I tag this? I can tag one payment or the other, and then have the option to put the rest in a holding account. My questions are:
is this holding account notional or does it actually involve setting up an additional real bank account?
how do I work the holding account if it’s just a notional thing?
is there a better way of handling this sort of thing?
If you wanted to go down the holding account route, you would set up a bank account only in QuickFile.
You would tag the payment for the 2 sellers as a transfer to the holding account, and then pay off the 2 invoices from the same account (so the net effect is zero).
The other approach could be to just delete the one payment and split it. If this is a “one off” and doesn’t happen often, then you could very well do this. If it’s a bit more regular, perhaps the holding account would be a better approach.
Thank you Matthew, I really appreciate your answer. When you say delete the payment, do you mean delete the transaction from the bank feed in QF, and replace it with the two separate transactions? That’s probably the best route as the case was wrong so they’re crediting us for it, just to complicate matters even further!