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• # 77611
• Fri 09 Dec 2011 01:46 PM

Hello,

I've got a client whom received an invoice last year, for an annual software subscription, totalling £341.34.  This would be taken in 12 monthly instalments by direct debit.  The problem is that £341.34 divided by 12 is £28.445.  The company have taken 12 x £28.44 payments which means that the original invoice still has 6p left unpaid.  The company seem to have written these 6p off.

My question is how do I get rid of this 6p?  I have to debit the suppliers account with 6p but what account do I then credit? 

The second part of this question is does anyone one know how I do this in Quickbooks 2007?

Thanks
Torben 

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• # 77613
• Fri 09 Dec 2011 04:20 PM

submitted twice - deleted - oops!

Edited at 09 Dec 2011 04:23 PM GMT

• Dave Reynolds

  Dataflow Business Services
   

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• # 77614
• Fri 09 Dec 2011 04:21 PM

Hi Torben,

Don't know about Quickbooks, but in Sage you have the option to "write off" supplier transactions below a certain value (obviously £0.06 in your case) - no Journal required. Would imagine Quickbooks to have something similar!

• Dave Reynolds

  Dataflow Business Services
   

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• # 77619
• Fri 09 Dec 2011 05:30 PM

Thanks DavieR

The reason I asked about the journal method is because I always like to
know how things are done manually. You can then usually work out a way of
doing it in any application.

Thanks
Torben

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• # 77635
• Sun 11 Dec 2011 01:08 PM

I believe that I have worked out the answer to my own question, about how to do it manually.  It came to me while I was forced to watch an episode of East Enders!

I guess I just Debit the suppliers account and then credit the original expense account.

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• # 77660
• Mon 12 Dec 2011 12:25 PM

tediussaid:

“I believe that I have worked out the answer to my own question, about how to do it manually.  It came to me while I was forced to watch an episode of East Enders!

I guess I just Debit the suppliers account and then credit the original expense account.”

• Bruton Young Bookkeeping
  
  

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