How to allocate payment into two seperate client invoices

cpridingschool
cpridingschool Member Posts: 2
edited April 2020 in Reckon One

Comments

  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
    Hi cpridingschool

    go to receive payments window, chose customer and enter payment as usual, ticking invoices paid down bottom, however in the top section where it shows the bank account it is being deposited to, chose "undeposited funds".

    Do this for each customer payment included in the one bank deposit.

    Then go to 'banking'>make deposit, the 'payments' window should come up automatically, if not click on payment, this will show a list of all the customer payments receipted but not yet banked, tick the payments that relate to the deposit you are doing and OK, this will pull them together into one deposit to match what went to the bank.

    If you have additional cheques or cash to be deposited as well, other than the customer payments, enter them on the deposit screen under the customer payments, they will be added to the deposit.

    Kim:  0429 305300  E: Kim@kwikbooks.com.au
  • Qwerty
    Qwerty Member Posts: 261
    edited March 2017
    Hi cpridingschool,

    Kim's reply relates to the Reckon Accounts product.

    I noticed the product range chosen for this question is Reckon One.

    In Reckon One, you can receive a customer payment for multiple invoices by using the 'Receive money' form.

    Example scenario:

    My customer Joe Bloggs has paid me $150.00 which covers two invoices (INV0002 = $100.00 & INV0003 = $50.00)

    image

    Day to day > Selling > Receive money > Add

    image

    In the received money form...
    1. Specify the applicable date
    2. Select the customer
    3. Select the bank account
    4. Select the 'Allocate' tab in the lower part of the screen.
    5. You will see the open invoices for the customer
    6. In the 'How much to allocate' column you can set how much you want to apply to each invoice
    7. The transaction will now total the allocated amounts & you can save the transaction
     
    image

    The invoices should now show as paid

    image


  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
    My bad, sorry CPridingschool, it was late & I was tired, all that night were Reckon Accounts, sorry again.

    Thank you for the pick up Qwerty
  • cpridingschool
    cpridingschool Member Posts: 2
    edited June 2015

    thank you for your replies, the method you have shown is for allocating money to one client who has two invoice. I'm want two different clients with their own invoices from the one payment?


    ie. dad makes one payment that covers two different children which are separate clients with their own separate invoices.

  • Deny Dharmawan
    Deny Dharmawan Alumni Posts: 141
    edited April 2020
    Hi cpridingschool,

    Currently Reckon One can only allocate received money to one customer. You will need to split the money received into two separate money received so you can allocate them to two invoices.

    Regards
    Deny Dharmawan
  • [Deleted User]
    [Deleted User] Posts: 0
    edited August 2016
    Our client is a mechanic, he does jobs for the day and charge his customers by credit card facility. 

    the merchant settlement for the day will come through to his bank account as one lump sum payment on the next day.

    as we cannot allocate the lump sum payment to different invoices, is that mean that we have to delete the bank feed transaction then do the receive payment one by one? is there any work around with this problem?

    the client have credit card payments every day if we have do delete bank feed transactions and manually input receive payments for each invoice then the bank feed function is useless! 
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited December 2016
    Hi Irene

    Do you need to track individual clients in Reckon one and raise invoices for each.

    You can enter a bank feed directly into sales/income account instead of applying to individual invoices?

    If you didn't need all daily clients to have invoices you could raise one invoice to 'cash sale' and have an item line for each client that day, with their name in the description.

    or

    You could create your own 'undeposited funds' bank account - each client that pays can be entered with customer name (contact) then the amount paid going straight to income/sales with a description of what was done i.e fix brakes. - the receive money would go into undeposited funds - then at the end of the day do a t/fer from undeposited fund to bank account- this will match the eft bank feed transaction.

    Same would apply if you had to pay off invoices to individual customers, make the payment to undeposited funds, then transfer in bulk payment to bank account
  • [Deleted User]
    [Deleted User] Posts: 0
    edited August 2016
    Hi Kwikbooks,

    yes, the client need to keep track on the record for each invoice that he issued. so that they know what has been performed in the MV. If tracking can not be used,the client can just using their bank statements instead of Reckon one to do their accounts.

    Bank feed function can be very convenience because it can save bookkeeping time by just allocating the payments & expenses against the invoices & bills. The desk top reckon software can allocate the payment received against few different invoices which means it's common for that to happen. I do not understand why Reckon One don't have that function?

    with bank feed in place i would expect that i can spend less time, but you are instructing me to do more steps to get the problem solve, is it means that we shouldn't get the bank feed in place? maybe just goes back to the old way by entering everything so that we don't need to waste time on duplicate records in the system?

  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited December 2016
    Hi Irene

    Firstly Reckon one is a new cloud based for smaller client market, and no where near as big as Hosted, and does not do as much as hosted... yet.

    the bank feed will still save time for spending money, it is only for the receive monies from overnight eftpos that will be a little slower.

    If you need to pay off each inv. but still want one deposit for bank feed to match, then i suggest creating the 'undeposited funds' bank account, at least this way you want have to add up many deposits to make sure it balances to the overnight eftpos.

    you will know it is right because the undeposited funds will always come back to nil
  • [Deleted User]
    [Deleted User] Posts: 0
    edited August 2016
    thanks for your help, but i think that's not how it should work thought. i am working in the file so i have no problem to do what you suggested and getting it right, but the point is our client isn't the professionals, they may not be able to handle these well.

    just feeling sorry to put client to such immature product, aside from that the bank feed that we set up for our client have trouble to downloading the feed as well. when i called the Reckon One professional support, they firstly blame us not doing the settings right, but then I told them that we set it up as it and it downloaded about 7 days of transactions then no more feeding afterward and during the time we didn't do anything to change any settings in Reckon one.

    they said that we put wrong BSB & A/C number in, but if it's wrong then the 7 days data will not come in. finally they recognized that we didn't do anything wrong but just there is something wrong in the account or the file? then asked me to email the bank statements with later transactions which shows there is transactions in but not downloading etc......

    i mean we've been charging every month for the product but it's not working, 1st wasted our time to solve the problem, 2nd i feel like I am paying to do the problem picker for their program..........

    just wondering if we should stop using this product and switch to another one.
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited December 2016
    Hi Irene

    Yes it can be frustrating if things don't go right, however, you problems with the feed is not the question you asked.

    As for an immature product - yes it still  maybe,  however what you have to understand is that..... you CAN apply multi invoices under one customer name, i.e $5000 pays 4 invoices for one customer..... but, yes the but....... you cannot expect to be able to apply one payment over multi customers i.e  $5000 payment 1 x customer A, 1 x Customer B, 1 x Customer C, etc.

    NO PROGRAM can do this, this is why 'unreconciled accounts' is already available in other software, you receipt the individual payment to the customer & bank in undeposited funds, then you tick/group all the deposits in undeposited funds that make up the one bulk payment into your account.

    MYOB, Reckon & Hosted, Xero, Quickbooks, all will work this way, not just reckon one, maybe they work a little faster as the programming allows for grouping deposits from mulit customers.  The only difference in Reckon one is you get to set up the 'undeposited funds' manually and t/fer the grouped deposit manually to the bank account.


  • Nicky Shore
    Nicky Shore Member Posts: 2
    edited September 2016
    How do you set up the undeposited funds account manually? When I try to do that it says an invalid bank account?
  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
    Hi Nicky

    Go to 'day to day > banking > bank accounts tab (default)> add (this is add a new bank account.

    Create one called undeposited funds
  • Mikaela
    Mikaela Member Posts: 16
    edited October 2019
    Hi
    I know this is an old thread, but can you do the same thing (using an "undeposited funds" account) when you are making a payment that covers multiple expenses that you want to track? 
    eg Reimbursing a staff member for taxi fare, parking, flights and a conference fee. I want to track each expense, but only one payment has been made to the staff person.

    Is this type of "undeposited funds" account the same as a "clearing account"?

    Thanks
    Mikaela
  • ChaPatisse
    ChaPatisse Member Posts: 1
    edited June 2020
    Hi,
    I have the same problem, a client with two branch so two contacts and two invoices but only one payment covering both invoices.
    I found the Branch field very usefull in this case but if reckon one can't see these two client as one unique client I don't see the point...
    They have both the same name, different display name, different branch.
    Of course when I want to allocate the payement to the client I can't slect the 2 invoices...
    Is there any update on this 3years old problem?
    Thanks