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Reconciling multiple invoices in one payment
If a client pays more than one invoice with a single payment, how do I reconcile this?
I’m confused
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Inappropriate?You use part payment....just put the exact amount of invoice x and then you'll see the payment's remainder can be 'reused' with invoice y -
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Inappropriate?Where in the system is the part payment option. I can't seem to figure this bit out without it creating multiple entries in my bank account listing for a single payment.
I’m really confused
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Inappropriate?bluescouse
When you explain a bank transaction, you can alter the explanation amount (which by default is set to the full amount of the transaction).
If you enter a lower amount to allocate to one invoice for example, once that explanation has been created, some part of the original transaction will still be unexplained. You can then explain that remaining amount.
You can even mix debit and credit explanations against a single transaction (for example a mixture of invoices and credit notes).
It's fine to have multiple entries explaining a single transaction like this - the only important thing is that the transaction is fully explained.
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Inappropriate?Ed,
Is there a difference in this functionality between Uploading the Statement and a Manual Payment?
I am using manual entries for this. I don't seem to get the functionality you are suggesting. I for now have gone into the invoice and marked the relevant invoices as paid, but this obviously makes multiple entries in my bank account, something that doesn't reflect the paper bank statement I have.
Neil
I’m feeling like a user
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Inappropriate?The overall result is the same as far as the accounts are concerned, and there's no problem having multiple manual entries for a single bank statement entry (it's just the same as having multiple explanations for a single uploaded transaction).
EMPLOYEE
