Unallocated payments

Question asked by Chippy Coates 6 years ago

I am trying to enter a payment received a while ago for a deposit against an invoice created from a pro forma invoice at a later date, in other words trying to allocate a Money in receipt against an invoice which I create at a later date.

Any advice appreciated, Thanks

6 Replies

Thanks John, this does appear to work although as I have only just started using the VAT function on clear books it brings in all the previous entries (that have been returned manually) as well as the one I want.

I think I have found a work around, I use>Money in to account for the deposit as unallocated then, later allocate to the invoice I create, If I enter the bank date field on the payment as the date it is applied to the invoice the VAT return picks it up in that quarters VAT return.

Hi Chippy,

You should be able to view the payment for the deposit on the Money>Bank accounts>Unallocated cash menu. If you click on the green money icon beside the deposit amount

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this will take you to the allocation page - select the appropriate payment and then type in the amount to allocate against the appropriate invoice. Hit the allocate button to complete.

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Alternatively click on the invoice number and hit the allocate button and you will also be taken to the allocate page above.

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Thanks John

The problem is I cannot enter a receipt for the deposit without it creating an invoice. Therefor I cannot enter unallocated receipts, or can I?

You can create an unallocated receipt from the Sales>Money in menu. Once created on this menu it will remain as unallocated cash until you allocate to an invoice in future.

Thanks John, I have done this now but have one more question. I am set up for cash accounting and VAT.

When i allocate the unallocated money to an invoice with 0% VAT it is not pulling the amount through to the VAT report for the current quarter under sales exc VAT section.

It may help if I explain the scenario I am dealing with, we take deposits for artwork commissions which may not be completed for 6 months. HMRC want to have the item exported within three months so my accountant advised that I should send a profoma invoice and take a deposit as unallocated. I do not want this deposit to be allocated or subject to VAT at all until applied to the invoice created from the proforma. I have tried dong this as a trial but am finding that the payment allocated against the invoice does not show on the VAT report, hope that makes sense.

Hi Chippy,

At the moment the system does not allow you to apply a VAT rate to an unallocated payment/receipt - so this unallocated cash will only appear on a VAT return once it is allocated to an invoice with VAT.

As it happens this seems to be what you are after - however when you allocate the deposit to the invoice, this will appear on the VAT return (box 6 if it is 0%) based on the payment date. So if the payment was prior to the start of the VAT quarter you will need to make sure the include late invoices check box is ticked when initially searching for invoices.

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If you still have any problems adding this test invoice to the return - just let me know which number it is and I can investigate further.

Thanks John, this does appear to work although as I have only just started using the VAT function on clear books it brings in all the previous entries (that have been returned manually) as well as the one I want.

I think I have found a work around, I use>Money in to account for the deposit as unallocated then, later allocate to the invoice I create, If I enter the bank date field on the payment as the date it is applied to the invoice the VAT return picks it up in that quarters VAT return.

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