Institute of Certified Bookkeepers
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Premium Ins Funding setting up

  • Member in Practice
  • Practice Certificate
  • 1 post
  • # 116826

Hi my client has arranged to pay his insurance invoice with Premium Pay By the Month Funding over 10 payments.  How do I show the invoice as being paid and the liability for the funding with the payments reducing the debt each month.  I particularly need the journal entry i think.  having a mind blank ....  thank you

Edited at 15 Jun 2018 04:57 AM GMT

  • Member in Practice
  • Practice Certificate
  • 8 posts
  • # 116829

damonlinda@hotmail.com said:

“Hi my client has arranged to pay his insurance invoice with Premium Pay By the Month Funding over 10 payments.  How do I show the invoice as being paid and the liability for the funding with the payments reducing the debt each month.  I particularly need the journal entry i think.  having a mind blank ....  thank you

Edited at 15 Jun 2018 04:57 AM GMT
Hi Linda,

There is a support note on this in the Resources under Premium Funding


 

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