Create an account in the chart of accounts for a payment I take and send out on the customers behalf.
Hi,
On my invoices there is often a "Council Fee", this is a payment that is made to the relevant council as part of an application process for the work the customer has asked me to undertake.
I add the exact amount to the invoice and I pay the amount from our bank to the council when the application is complete.
I am wondering how best to categorise this form of payment in the chart of accounts, then I can create a service for this when creating the invoice.
Create an account in the chart of accounts for a payment I take and send out on the customers behalf.
Hi CraigWatson,
Welcome to the UK Community Page for QuickBooks Online. Rustler is very correct in his advice.
For the payments being Non VAT applicable on the invoice, you just need to make sure you mark that element of the invoice as "No VAT" in the VAT Column. I'll expect this will be a multi line invoice.
Once the accountant has clarified the best way for you to move forwards, we can help you to implement it in the best manner in your QuickBooks.
Create an account in the chart of accounts for a payment I take and send out on the customers behalf.
Thanks, I appreciate your reply.
I suppose I could simply create an income account as "Fees Taken" and an expense account as "Fees Paid".
However, these payments are not VAT applicable on the invoice which adds another layer of complexity for a novice like me so I will get some further advice from a local accountant.
Create an account in the chart of accounts for a payment I take and send out on the customers behalf.
Hi CraigWatson,
Welcome to the UK Community Page for QuickBooks Online. Rustler is very correct in his advice.
For the payments being Non VAT applicable on the invoice, you just need to make sure you mark that element of the invoice as "No VAT" in the VAT Column. I'll expect this will be a multi line invoice.
Once the accountant has clarified the best way for you to move forwards, we can help you to implement it in the best manner in your QuickBooks.
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