matching a payment/sales invoice that unexpectedly includes a vat rounding element

Question asked by Jon King 7 years ago

Can someone help me understand how I should match a payment I have received that incorporates a VAT rounding of +1p against an invoice I have created in clearbooks that does not have this VAT rounding accounted for (self billing agreement where I'm stil creating shell invoices on my side for tracking but the accounting systems obviously rounding in two different ways - likely also because I have VAT rounding toggled off from previous issues for different reasons!)

I can't edit the invoice I hold on clearbooks to expect the extra 1p as it has since been picked up in a VAT return and is rightly locked from being able to add new line items. If match the payment received against the invoice, I am left with 1p that I can declare as 'other income' I guess with a note that suggests it's a VAT rounding issue but just wondering if there is a more concise way to do this.

I don't see any other accounts to use. I guess I could also create a journal entry but journals are like a black box to me (and I prefer them to stay that way :)

Any advice would be apreciated. I've had a search and can't find anything specific that people have done before on clearbooks - only other systems with different code. Hopefully enough info to give me a steer but please let me know if more info needed!

2 Replies

Hi Jon

Yes, I'd put it to other income or enable sales items to Sundry expenses and put it there.

thank you for the advice!

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