Prepayment

Question asked by Mr Sukumar Amin 6 years ago

Hi

We have paid £7000 in Aug-2017. £7000 was deposit for our machine.(year end 17-18)

Invoice came in April-2018 (year end 18-19)

Please can some one advice how do i account this in clear book?

Regards

Parul

1 Reply

Hi Parul,

As this is all in the past, you could import a statement and allocate the payment to a bill, however, you may want to follow the below steps now and in future (similar situations):

1 You can create the payment of £7000 as a payment on account on the Purchases>Unallocated payments menu.

2 Next create the bill with April as the invoice date on the Purchases>Bills menu.

3 Once the bill is created, hit the Allocate payment button and you will be able to allocate the payment created to the bill

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