4.11.6 How should I handle the payment of a supplier by a leaseholder?

4.11.6 How should I handle the payment of a supplier by a leaseholder?

  1. Load the supplier invoice(s) into the system in the normal fashion. In this way you recognise the expenditure that has been incurred by the bloc
  2. Create a ‘bank account’ to represent the leaseholder’s fund
  3. Record a receipt from the leaseholder into this bank account. This will create funds in the new bank account and a credit on their service charge account which can be used to ‘match’ against any unpaid service charge demand
  4. Record payment of the supplier invoice from this account i.e. the supplier invoice will now be shown in the system as ‘paid’, but the funds in your service charge account will not be affected
  5. The balance in the leaseholder’s bank account should net to zero

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