im new to quickfile and im easing myself in slowly while still keeping my accounts in excel.
ive just singed up for a direct debit to a supplier.
their invoice was split into 7x equal monthly payments of the same amount.
this has been setup using go cardless.
it will come out of my company account.
whats the best way to input this into my company accounts?
do i wait until it shows in my bank, then tag it somehow, or add an invoice and somehow make it recurring and then retag it again?
Was the invoice issued in whole, or are you issued 7 invoices (one for each payment)?
In some cases you may be able to log an invoice each month matching the payment, even if it was issued as one (and spread the cost of the expense over 7 months), but I would recommend double checking with your accountant to be on the safe side here.
the invoice was sent as one amount.
they asked how i wanted to pay and offered 7x monthly split payments.
i wont be getting 7x split invoices.
so how do i go about actually inputting this into quickfile and how to do it without creating a few unnecessary steps?
in excel, id just input 7x entries (1x per month) and send the invoice off to my accountant with all my others.
the bank shows the direct debit every month.
no idea how to go about creating all this in quickfile.
so far ive only used it for invoicing and added in the odd fuel receipt. im now starting to add all new purchases going forward
I would just tag the payments to the invoice as and when they are paid.
So, create the invoice as it is in QuickFile with the full amount and date it was issued etc. Then each month you would tag the payments against the invoice, reducing the balance each month
Note that to do this you’ll have to use the button labelled “pay down multiple invoices”, which is slightly counter-intuitive given you’re actually paying down part of one invoice, but that is the button to use for any situation where you want to assign a payment to a supplier that is anything other than an exactly matching full payment for a single purchase.
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