วีดีโอ

Hey, Please check if you have marked invoice as paid (e.g. you have allocated received money to this invoice). In this case you will need to removed 'Payment' and make your necessary changes to the sales invoice. I hope this help.

Hey, 👋 Thank you for your question. 🙏 There is no option on Pandle to record daily till sales (as simple as other accounting softwares may provide). If you can obtain Till sales reports daily, weekly or monthly as a summarised report, then I would personally record sales either on a daily, weekly or monthly basis as 'Customer Invoice' and keep detailed summary files for supporting sales invoice being recorded on Pandle. Money received via bank (card payments) or cash deposited in bank would be allocated to this invoice or split between multiple sales invoices. It may get little bit complicated if you do not have a good process in place and clarity of how you want to record Till sales on Pandle. Reach out to me if you require further help.🙌

Hey,👋 Thank you for your question. 🙌 It depends from your circumstances and your Sage system used but most likely the below will guide you: 1) if system is locked as VAT return has been submitted or your Bank being reconciled then you will need to post a manual adjustment between accounts; 2) if system is open then go to Banking, select the relevant bank account. From the Activity tab, select the relevant row to open the transaction to edit. Change the bank account you want it to be allocated to (if a new bank account). Click Apply and save your changes. You will need to reconcile it again as it will show up as available to reconcile or categorise again in your bank account. I hope this helps. 🙏

Hey 👋 Happy to read that you found my video useful ☺🙏

Hey,👋 Thank you for your question. If you have not added a Bill and Credit Note then you have 2 options how to proceed: Option 1 - Add Bill on Xero for $144 and allocated outgoing payment to this Bill. Then record Credit Note for $132 and allocated refund from bank transactions. Option 2 - Directly from bank transactions categorise both (payment out and money in) to the same cost category (for example to 485 Subscriptions). This will show only the difference of $12 as costs incurred by your business ($144-$132). I hope this helps. 🙌🙏

@@DigitalAccountant thank you, appreciate it!

Hey 👋 Check if you have filled in all required fields and in required formats. For example, you may need to enter VAT/GST number starting with country's code that often starts with 2 letters (e.g. for United Kingdom VAT number would start with 'GB' followed by numbers instead of only adding numbers). I hope this helps and resolves your error message.

Happy to hear that you found my video useful. 🙏Your feedback means a lot to me. 🙏🙌

Thank you for your feedback. Happy to hear that you found it useful 🙏🙌

Thank you for your feedback. 🙏🙌

Hey 👋 Thank you for your question. To access or see your VAT Returns follow this pathway: -) click on the section 'Accounting', -) select 'Reports' in the drop-down -) scroll to section -> 'Taxes and balances' -) click on 'UK VAT Return' Now you can see all your filed VAT returns. I hope this helps.🙏

Thank you 🙌

Thank you for your feedback. It has been almost 2 years since I created the tutorial of Akaunting. It is likely that some features have become part of a paid package since then. 🙏

Thank you for your question. 👋 Update Chart of Accounts by adding new Sales categories and updating mapping in Settings. 🙌

@@DigitalAccountant Thanks, it was the drop-down when you enter the details I was missing!

@@motorboy23 oh, now I understood what you were after. 🙏 Yes, that is right - if you have various Sales categories added already on your Chart Of Accounts then at a time when you create invoice you can change category (through the drop down as you mentioned); the same way when you add a supplier bill - you choose correct expenses category through the 'drop down' section. 🙌

@@DigitalAccountant yes, easy when you know how but sort of hidden!

Hey 👋 Thank you for your question. I would personally record bill for these and then link outgoing payment transaction from bank to the bills. Journal entries may not allow you to record transactions to Creditors correctly and in turn manage Accounts Payable balances in detail. I hope this helps.

@@DigitalAccountant you mean prefer record any purchase by bills

@@AbdullaSaeed1988 For example, if staff submits expense claim form with list of various purchases (expenses) then I would record this as bill listing each purchase by line (so that expenses can be categorised correctly). When partial payment is made or expenses are paid in full then you will be able to clear this from the Accounts Payable list accordingly. I hope this helps.

Yes, you can. Select the checkbox for each invoice you want to mark as paid. Click 'Mark as Paid'. I hope this helps. 🙏 Tip - Xero Central provides lots of useful tips and short step-by-step guides. If you do not use it yet, then I recommend you check it out - central.xero.com/s/

Hey 👋 Thank you for your feedback. 🙏 There are advantages and disadvantages to both accounting methods. Some my choose cash accounting method and use bank account transactions to support this approach, however some may go with accruals based approach due to a fact that they want to manage accounts receivables and payables ledgers (e.g. if issued sales invoice has due date lets say more that 5 days or supplier (vendor) have granted 30 days payment terms). For example, if you issue sales invoices for £50,000 in a tax year or a financial year but you have received only £20,000 and there are no expenses in this example, then: -) in accruals based method, your taxable income is £50,000, however -) in cash based method, your taxable income would be only £20,000 (as you have not received the rest of the money in a bank account yet) I hope this helps. 🙏🙌

Hey 👋 Thank you for your question. Can you please clarify what you mean by 'how do you close an invoice'? If you mean invoice to be complete (instead of staying in a draft status) then click on the three dots in the right corner and then select 'Mark as sent' If you mean invoice to be marked as paid then link received payment from bank transactions to this sales invoice. I hope this helps.

Hey 👋 Thank you for your question. Two options: 1) Either you reduce each unit's price in line with a discount and record as stock purchase value. For example, you purchased 10 units for $1.15 and discount if $0.05 per unit, then record as if you have 10 units for $1.10 purchased (if this is bulk purchasing discount)); 2) Or a separate 'stock item' is set up that directly records 'Discounts received' to Profit & Loss statement instead of Balance Sheet (do not tick box to track item). I hope this helps. 🙌🙏

Hey 👋 Thank you for your questions. It just records as credit note on the Zoho Books as far as I am aware of. I guess with Zoho integrations there maybe is a possibility to automate this but I am not 100% sure. I fuggest you get in touch with Zoho support team. 🙌 I hope this helps.🙏

@@DigitalAccountant I see, thanks for confirming 😀

Hey 👋 Thank you for your question. Any accounting software including QuickFile is meant to help you to keep control of your company's records and have a clear visibility of transactions at a certain time of the year. So far government have not interacted in a way you decide to keep your records. You can use a simple spreadsheet to create reports that will be used to prepare year end accounts (especially if you have a little transactions). Plus support document folder where you keep copies of bills, receipts, sales invoices, contracts etc. to support transactions in your company's bank accounts. If you have a simple company (without assets, payroll, loans, stock etc.) then it should be not complicated for you to draft accounts, however any other category will add a difficulty of reporting requirements in line with guidelines that need to be followed. QuickFile can't file year end reports directly to HMRC or Companies House (at the moment as far as I know). You will need to log into WebFiling (Companies House reporting tool) and on HMRC to manually enter year end accounts information and submit to both institutions. It is correct - payroll can't be processed on QuickFile. If you use another software then you will need to bring information in a QuickFile. This means - to post payroll journal on the QuickFile (net amount that you pay out from your bank account is not the total costs to your business). There are a couple options for you to consider that I have in mind. If you would like to discuss these please reach out to me. Here is a link to my calendar and I will be happy to discuss these with you over the video call - calendly.com/digital-accountant/virtual-coffee

@@DigitalAccountant thank you for your reply. To understand better so all transactions are stocked in quick file during the year and when needs to do year end reports, i can do it from www.gov.uk/log-in-register-hmrc-online-services once i log it there using LTD login gateway id i can do there using numbers from Quick file? Is this Quick file app to record all transactions for a company because this can not be done in same time when end of year ends on hmrc website? Like needs all details be recorded, i thought is like self employed end of year, just put big numbers not every single detail. If i m not wrong. I did see from hmrd login using gateway there is an option to accounts with company house and there is one question if i want to do both, hmrc as well . Thank you!!!

Hey 👋 Thank you for your question. Can you please clarify - bills often are recorded under supplier and invoices are issued under customer name. In either case (if stock is not directly linked to this entry or any other application) then by changing supplier or customer name on the bill or invoice should not create another invoice. For this to happen you will need to copy or duplicate original document. I hope this helps.🙏

Thank you for your feedback.🙏 Happy to hear that you found this video helpful. 🙌

Hey 👋 I would suggest you reach out to QuickFile support team or use 'Community' to ask your question. The first place I would look is under 'Settings' section (if this is possible).🙏 I hope this helps.

Hey, Thank you for your question. Just a quick question - if you would personally have purchased the item for $2000 - would you expect refund to be $2000 or $1800? Do you have in your refund policy note that any payment fees withhold by bank will be deducted from the total refund amount due? I hope this helps.

@@DigitalAccountant , thank you for your swift response. I have to refund $1800 out of the $2000 paid by my customer for a product and keep $200 for the processing fee.

@@user-sq6qe4lz7z Step 1 - Invoice issued for $1800 (sales) + $200 processing fees. Received money of $2000 allocated to this sales invoice. Step 2 - Issue Credit Note for $1800, allocate refund of $1800 to this credit note. If you will pay any processing fees on top of refund then record those to fees (bank charges). I hope this helps.

In the zoho box, if the bill has been generated in the name of a wrong customer, please tell whether the bill is generated again after editing it Or not

Hey 👋 You need payroll software to process payroll accordingly. Currently QuickFile does not have it's own payroll module to do RTI submissions. Once you have Payment Summary file then you will need to post or add payroll journals manually on the QuickBooks. To change salary you need to have an employment contract that will outline reasons of salary changes and the process to follow. I hope this helps. 🙏

@@DigitalAccountant thanks for your reply. That make sense. So if i close the Paye numbers, will i be able to do all documents with Quick file? Can i pay myself from my own ltd as self employed and not anymore through Paye numbers? I pay 1500£ per year my accountant and i m thinking to do by myself ltd documents, but i don t know about payrol software so if i become unemployed and close paye numbers, can i pay myself as subcontractor? And then quick file program will be good to do end of financial year?

@@vladmoloce8915 thank you for your question. There are some considerations to keep in mind if you pay yourself as 'subcontractor' from your own company. This may cause you some unnecessary trouble in a future. Please book a 30min free consultation with me to go through your situation and discuss the best approach for you to go forward. 🙏 Here is the link to my calendar - calendly.com/digital-accountant/virtual-coffee