This transaction is used for entering miscellaneous payments and cash purchases for which you have not received an invoice.
If the payment relates to a supplier invoice, enter a Supplier Invoice Payment.
If the payment relates to the refund of a customer credit note, enter a Customer Refund.
If the payment relates to a supplier overpayment, advance or deposit, enter a Overpayment To Supplier.
Entering a General Payment
The payment be entered as a Spend Money transaction. Navigate to the Banking tab and initiate the transaction from one of the following areas:
- Overview - click the Spend button for the appropriate bank account.
- Transactions - select the appropriate bank account and then click on the Spend Money button.
- Bank Imports - import a bank statement or process an outgoing amount from an existing bank statement.
Proceed to complete the transaction as follows:
- Type: Select General Payment.
- Date: The date that the payment took place. This defaults to the current date unless you are processing a bank statement in which case its the date provided by the bank for the line item.
- Contact: Use the drop down list to select the appropriate contact. This field is automatically entered if you are processing a bank statement using an import rule. Optional for General Payments. If the contact has not already been set up, click on the Add New button to create a new contact.
- Reference: Enter any relevant information you may require eg. cheque number.
- VAT Treatment: This option is only visible if your organisation is registered for VAT. It is mostly relevant to UK organisations with European sales or purchases. If entering amounts relating to refunds/returns, you may need to change the default VAT Treament. See VAT UK - Box by Box for information on how this setting affects the VAT Report.
- Account: Enter the account against which the payment should be recorded. Use the drop down arrow to search available accounts or click in the field and enter free text to find matching values. If you cannot find an appropriate account, check your settings for the Chart of Accounts and create a new account if required.
- Description: Enter a description of the payment.
- Category: Only visible if Categories have been created. Optional field for further classification of line item.
- Amount (incl VAT): Enter the amount of the payment. This field is automatically entered if you are processing a bank statement.
- VAT Rate: Select the appropriate VAT Rate which should be applied to the line item (default VAT codes can be set in Chart of Accounts). The rates chosen here impact your VAT Reporting. If you are unfamiliar with VAT, it is advisable to consult your accountant or the HMRC for advice.
- VAT Amount: The VAT amount is calculated automatically but can be changed if required.
- Add Item: If more than one line item is to be entered, click on this button to initiate the entry of the next line item.
- Delete Item: This button allows you to delete an unwanted line item if there are no validation restrictions (such as the transaction being marked as reconciled or included in a VAT Report).
- Notes: Enter information applicable to the entire payment.
Click the Save button to complete the General Payment.
Unlike, Invoice Payments and Refunds, General Payments do not save values to the Accounts Payable account. The Contact field in this type of bank transaction is optional and for information purposes only.
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