Reconciliation issue re bank statement v bank feed v payment receipts

Peter Meagher

The problem I need help with is as follows:
* When reconciling our account I have the bank statement to compare with the bank feed.
* There is one company who I send up to 15 individual invoices each fortnight.
* This company deposits that total amount of the invoices as one payment into our bank account.
*I then go through each individual invoice and 'receive payment'.
* The bank statement shows the one bulk payment and the bank feed shows the one bulk payment and also the individual 'payment received' invoices.
*This then makes the amount on the bank feed double that of the bank statement so I dont know how to reconcile this.
* I tried deleting the individual invoices which then gave me the $0.00 I was looking for but alas the deleted individual invoices ended up back in the approved list with 'overdue' on each them. 
* So I have un-receipted invoices that have been paid but aren't recognised as paid.
* I'm sure there must be a way to make this work, possibly by deleting the bulk payment entry on the bank feed and receiving payment on the invoices that match the bulk payment.

Look forward to your experiences with this and any advice you may have so I can get my life back on track.

Many thanks in advance, Peter
 

Jocelyn Hudson

Peter,

If it's in Reckon One, you can receive the total amount against the invoices by going to Receive Money under the Day to Day, select each invoice that is being paid. This will solve the problem.

If it's Reckon Accounts then just go to Receive Payments and put the total amount in being received and then tick the invoices it applies to.

Call me if you wish Jocelyn 0421 910 901

LyndaC

Hi Peter

I also have clients that pay many invoices in one payment. 

When I am in Banking, Bank transactions (where the bank statement is brought in), I click on the entry, Go to Allocate detailed receipt, put in the customer name, then all the invoices outstanding come up.  I then allocate to the invoices being paid to agree with the total of the receipted amount.  No need for double entries and done straight from where the bank transactions are brought into account.

Lynda

Peter Meagher

Hi Lynda. Thanks for replying. I won’t get back to my desk until tomorrow when I will have a try of what you suggested.

Peter Meagher

Thanks Kevin. Will have a look at this suggestion tomorrow and see how I go.

Peter Meagher

Thanks for replying Jocelyn. I will have some office time tomorrow and will have a look at things and how your suggestion can help.