An annual Insurance invoice was allocated to the supplier account and prepayments nominal in Company A. However, 3 months later, we started moving all overhead costs from Company A to Company B.
Therefore, I needed to change the DD to come from Company B - which the insurance provider have done, and also move the prepayment balance between the inter-company accounts.
The complication is that the insurance provider are unable to provide a credit note against the original invoice for Company A, and raise a new invoice for the outstanding balance to Company B. Therefore, I have a credit balance on the supplier account in Company A, and a debit balance on the supplier account in Company B because of the DD payments on account.
I am sure that this is simple to resolve, but can someone please advise how to move the outstanding invoice balance from the supplier account in Company A, to the supplier account in Company B?
Thank you in advance.
