Remittance Advices

Bruce
Bruce Member Posts: 445 Professional Partner Professional Partner

I am not certain that Remittance Advices are being produced correctly.

In the following example:

  • amount invoiced = $27,223
  • paid $5,000 previously
  • paying $10,000 on 27 July (as per the example)

I'm not sure whether Hosted's Remittance Advice treats the "Balance" as an opening or closing amount but had anticipated that the balance would have been either $22,223 (if Opening Balance) or $12,223 (if Closing Balance). However the Remittance advice is showing the amount of the payment in the Balance column

Have I misinterpreted the Remittance Advice or is there a glitch in the program?

Comments

  • Rav
    Rav Administrator, Reckon Staff Posts: 16,612 Reckon Community Manager Community Manager

    Hi Bruce

    I've been doing a bit of testing on this in my own file and it is a tad confusing.

    Can I just confirm though, have there been any other payments in addition to the $5,000 in your specific example to bring the "current" balance down to $10,000?


    During my testing, I've found that if I think of each column going from left to right as ..

    Original Amount ➡️ Current/Outstanding Balance ➡️ Current Payment

    .. then it somewhat makes sense but is still a bit confusing.


    In my example below, I had an 'original balance' of $560,000 and had previously made a payment of $60,000 making my 'Balance' $500,000 and my current 'Payment' for this remittance $10,000 (screenshot below).


    With that said, this explanation would only apply in your instance if there have been other/previous payments made (in addition to the $5000 payment) that has brought the 'balance' down to $10,000 as listed in your remittance screenshot which you are then making payment for.

    Let me know if that is the case though.

    Merry Christmas & Happy New Year everyone! 🎅🎆

    I'm on leave from 23 December and back on deck again January 6th.

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  • Sue Jones
    Sue Jones Member Posts: 67 Reckoner Reckoner
    edited July 2022

    I have been having issue with this problem since the beginning of reckon.

    I have contacted Tech Support over the years several times & have posted on here as well & all I get is that you (myself) have set it up incorrectly or you must have entered it wrong.

    The Balance Amount seems to be 1 payment behind.

    The only way to fix it is Email the Remittance Advice to yourself & the "Edit" with the Correct "Balance Amount" & then send it.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,820 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    Hi Bruce

    That is definitely a bit odd - Have you checked the template to ensure the columns are as actually named ? Also, make sure payments have actually been allocated against the bill ? If there are payments that haven't been applied that would definitely explain it ... 😫

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Bruce
    Bruce Member Posts: 445 Professional Partner Professional Partner

    Rav, Shaz

    Thanks for your suggestions

    • My example was the default Reckon remittance advice, so I am happy that the columns are correctly labelled
    • I definitely processed using "pay bills" meaning that the payments were allocated against the original bill
    • I have double checked and there haven't been any "unaccounted for" payments

    The only thing unusual that I can think of is that I recorded multiple payments for this bill in the space of two minutes. (My client has a $10,000 daily EFT withdrawal limit). Whether this caused a few conniptions, I just don't know.

    I've verified the data file and nothing has changed.

    Strangely enough the remittance advice for the final payment shows the correct balance - so I am still nonplussed.

    Fortunately paying bills by instalment is not my normal practice so it is not something that is going to keep me awake at nights.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,820 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited July 2022

    That's a strange one, for sure 😣 I haven't specifically encountered Remittance reporting being an issue with part payments. Having said that though, part payments are known to sometimes (not always!) cause a problem with paid bills not reflecting as paid in full (leaving random balances) along with line entries consisting of:

    • mixed tax codes
    • negative amounts

    Along with the above, what are the other characteristics of these transactions eg

    • Are they posting directly to Accounts or via Items ?
    • Are they being job-costed
    • Are they using Classes

    It's likely going to be a process of elimination to pin down the specific cause.

    I'd also suggest running the Rebuild x 3 (as 3 Rebuilds can fix some quirky anomalies)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Bruce
    Bruce Member Posts: 445 Professional Partner Professional Partner

    Shaz

    I've completed 3 rebuilds and still no joy.

    In relation to your specific comments:

    • not using items
    • not using jobs.
    • the invoice had multiple classes
    • all items on the invoice had an NCG code
    • some items on the invoice were allocated directly to the P&L, others were negative items allocated to Prepayments (Balance Sheet).

    All of these are things that I have done in the past without any issues

    The only thing that is unusual is the recording of multiple payments in the same session. I have tested this with a simpler test invoice and the issue remains I have been able to re-produce the problem so I am reasonably confident that this is the problem.

    Obviously I will need to pay special attention to part payment remittance advices in the future