How do i record a payment on account, either to a customer or a supplier. i.e. if I receive £200 from a customer their account balance should be a credit of £200, (the program seems to automatically raise an invoice for that £200 and the account balance remains £0.00) I would then like to allocate the credit against an invoice that I may raise at a later date.
Hi Andrew,
If your customer pays on account, create a Credit Note with the Account set to 'Cheque Account' and the VAT Treatment set to 'Out of Scope'. Later, you can allocate this credit to an invoice as described here:
http://www.solaraccounts.co.uk/help/how-to-allocate-a-credit-note.php
Use a similar approach for supplier payments on account by creating a Purchase Credit Note.
Regards,
I have previously reported this 'inconsistency' and I am forced to use the Credit Note approach which I find most inconvenient. It would be great if the Solar guys could allow prepayments without generating an invoice.
But this is no good as the payment does not show on the bank req screen?
Hi Andrew,
The advice about creating a credit note to record a payment on account is out of date.
The simplest way to record a payment on account is to create a Money Received transaction with the Type field set to 'Advance Payment'. If your customer pays directly into your bank account then set the Deposit Into Account field to 'Cheque Account' - the payment will then appear in the bank reconciliation list.
Regards
How to record a supplier on account payment
Thanks
Hi Colleen,
To record a payment on account to your supplier, create a Money Paid Out transaction with the Type set to 'Advance Payment'. Later, when you create a purchase invoice for that supplier Solar Accounts will ask if you want to allocate the advance payment to that invoice - click 'Yes'.
Regards,