How to account for a payment that apply to multiple customers
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Helene Vella
Member Posts: 7 ✭
We have one large client that has two or three subsidiary smaller clients within it. In Reckon Accounts we have seperate customers set up and we invoice seperately to these clients. However, we receive payments direct from the larger customer and often these payments include invoices from all of the smaller clients. Its simple enough when the payment is for invoices only. But for example, on once occasion we recieved a credit for Customer A, but it came through on a payment for invoices billed to Customer B. Does this make sense? We like to have each smaller client set up so we can easily report on revenue for any period. I don't really want to change the way we invoice. Can anyone suggest a solution?
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Comments
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Hi Helene. I have a straight forward solution for situations like this and others. Here are the steps:
1. Set up a new bank account in Reckon and call it something like Internal Transfers. This will act just like a suspense account but is much easier to operate as a bank account.
2. Receive the payment for each individual customer but instead of the deposit going to undeposited funds or whatever, have it go to the special bank account Internal Transfers that you created.
3. Once you have finished your receipting, you will end up with money in your Internal Transfers bank account. Now use the Banking > Transfer Funds facility to transfer from your Internal Transfers account to the bank account to which the deposit has been made. Provide a sufficient description so that you can identify what has gone on.
4. You will now have your Internal Transfers account with a number of "receipts" plus a single clearing entry to your normal bank account. Everything should balance nicely.
John L G0 -
Hi Helen,
Set up the subsidiary customers as a Job under the Head Office customer.
If you have a look at the Add Customer there is one that says Add Job.
This will allow you to apply credits & payments to all customer and job.
Hope this helps
Wilma
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