Prepayment

Question asked by Mr Sukumar Amin 4 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

file

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are