Level 1

Matching a payment to a supplier without an invoice.

Hello,

 

I have recently set Quickbooks up for a pub. The main supplier is the brewery that the pub is rented from and they have a trade account. 

 

 

I moved to Quickbooks on 1 April and I set the opening balance for the supplier trade account on 31 March to the creditor as per the statement on the trade account, I also receonciled it to my previous records. I am confident that my opening balance is correct.

 

I then added all of the trade invoices to the supplier. The total of the invoices in Quickbooks matches the statement as to how much has been invoiced up to 30 April. The next step is to match the bankings and this is where I am struggling to understand how Quickbooks handles this.

 

Over the month the creditor on the trade account has increased (we have paid more than we have been invoiced), payments also do not match invoices. I thought at first I could just start matching the oldest payments to the oldest invoices however I run out of invoices before I have matched all payments out of the bank so I have transactions on my bank that I cannot do anything with. I'm at a loss as to what to do without removing the supplier all together and just putting everything though as an expense but then what about the credit that is on the account?

 

I'm hoping there is a simple solution to this but I cannot work out what to do in this situation.

 

Thanks in advance for any adivce.

 

Regards,

 

Al Smith

Solved