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upsidedownhat
November 8, 2023
Question

Match bank deposit with both invoice income and bill expenditure

  • November 8, 2023
  • 1 reply
  • 0 views

I raise both sales invoices and bills to the same client. They thereafter pay the net amount to us. 

How can I match the net amount received ? Find and match only brings up sales invoices for deposits.

Currently I am excluding the transaction and manually marking the bill as paid / invoice received. Which is laborious 

 

I have also tried following this advice https://quickbooks.intuit.com/learn-support/en-uk/transactions/can-you-match-bills-and-sales-invoices-to-one-bank-transaction/01/561271#M7184 

But I can't add a resolving transaction for the bill amounts as there is no VAT field. 

 

This is needlessly complicated compared to other cloud accounting software!

1 reply

G
GeorgiaC
November 8, 2023

Hi upsidedownhat, thanks for posting on the Community

 

When you have a customer who is also a supplier, you can record a contra transaction using a journal entry to offset the bill and invoice. 

 

To create the journal, select + New > Journal entry, enter the date and choose the default Debtors account (or Accounts receivable) on one line (with the customer selected in the Name field) and the Creditors account (or Accounts payable) on the second line (with the supplier selected in the Name field). Enter the amount in each line and save.  

 

You can then link this to the invoice/bill by selecting receive payment/make payment, where the journal will show listed under Credits to apply. 

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