Forum Discussion

powerette's avatar
powerette
Experienced Cover User
3 months ago

Supplier Invoice Unpaid Instalment

Hi,   We have business insurance and the yearly amount is put in as a Supplier Invoice and the monthly payments are deducted from this Invoice. One of these payments was missed due to insufficient ...
  • Genreve_S's avatar
    Genreve_S
    3 months ago

    Hi powerette,

     

    As a general rule of thumb, the way you record your transaction should match how the transaction happened in real life. In this case, you may need to reverse the previous payment and create a new one to match the payment that went through without issues. However, it might be best to consult an accountant to see how it’s best recorded.

     

    In the meantime, feel free to create a new thread if you need any other help.

     

    Thanks,
    Genreve

Genreve_S's avatar
Genreve_S
MYOB Moderator
3 months ago

Hi powerette,

 

As a general rule of thumb, the way you record your transaction should match how the transaction happened in real life. In this case, you may need to reverse the previous payment and create a new one to match the payment that went through without issues. However, it might be best to consult an accountant to see how it’s best recorded.

 

In the meantime, feel free to create a new thread if you need any other help.

 

Thanks,
Genreve

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