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posting 'on account' payments to a supplier accounts

I am just trialling your accounts package and so far I have found it very easy to set up and use.

However is there a way to post 'on account' payments to a supplier accounts? I have several accounts such as utilities where a set amount is paid monthly and set off against the invoice value generally leaving a balance carried forward on the invoice but obviously for VAT and accounts purposes it's the actual value of supplies that needs to be posted.

Also I have large invoices which may be partly paid by cheque and partly by credit card or in several instalments how can these be posted and allocated later?. I suppose there might also be problems with short payments or overpayments on customer accounts?

I hope you can help as I am really quite impressed so far with your package.


Posted by Marjorie Birtles on Sep 29, 2008 11:13 PM BST

Hello Marjorie,

Regarding supplier payments on account, I suggest you create a new asset account called, for example, 'British Gas Account'. When you make a payment on account, create a General Transaction to record the payment to the British Gas Account. When you are charged by British Gas, record a new Money Paid Out transaction with the Paid From Account set to 'British Gas Account'.

You can certainly record invoice payments which are less than or more than the invoice amount: In the Invoice Payment window change
the This Payment column equal the amount received. If an invoice is overpaid it acts as a credit note: you can allocate the credit (http://www.solaraccounts.co.uk/help/how-to-allocate-a-credit-note.php) to another invoice or pay a refund (http://www.solaraccounts.co.uk/help/how-to-pay-a-customer-refund.php) to the customer.

I hope this helps. Please let me know if you need more information.

Regards,


Posted by Mark McLaren (Solar Accounts) on Sep 30, 2008 9:41 AM BST

Thanks - that's helpful I'll give a try,

Marjorie


Posted by Marjorie Birtles on Sep 30, 2008 9:23 PM BST