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Taylorshipley
Level 2

Entering a court payment

Wondered if someone can help me with this transaction.  A customer paid an amount for which he had been invoiced for – say £4000 for a service, which he subsequently never received (totally the fault of the company I work for).  The customer has now taken this to court and we have agreed to pay him out of court  £5000  plus expenses, plus court fees etc,  which now comes to £6000. How do I record this in QBO,

Solved
Best answer April 20, 2019

Best Answers
Rustler
Level 15

Entering a court payment

Create an expense account called legal settlement expense, and be sure to point that expense account out to the tax accountant when the time comes

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3 Comments
Rustler
Level 15

Entering a court payment

Create an expense account called legal settlement expense, and be sure to point that expense account out to the tax accountant when the time comes

View solution in original post

Taylorshipley
Level 2

Entering a court payment

 Sorry I didn't see this response when it came in so Thank you so much. 

Rustler
Level 15

Entering a court payment

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