Payments covering multiple invoices/orders

 

You may receive a single payment covering invoices for more than one product. Event if you have different bank accounts for each product, it is still the case that this single payment you have received will be put into just one of the bank accounts. In order to make sure the money is allocated against the correct product in your accounts, a few journal transactions will need to be made.

Go to Accounts > Sales Ledger > Sales Account Enquiry. In the Hot Area right click and then Search for the company who has paid you.

When you click in the 'Company Name' box, the invoices and payments with outstanding amounts will appear in the grid below.

 

Putting the payment on against a company, not an order or invoice

Set the 'Event Code' box near the centre of the screen to be the product which has the bank account where the money has been deposited. So, for example, if a single payment has been made for products ABC, JKH, and ZYX, but it has been paid into the account for JKH, set the 'Event Code' to JKH. This will change the look of the grid which will now show you the balance invoices for only the product you have chosen. Do not let this worry you.

Click the gold coin and input the full amount that you have received. This places the money onto the account for this customer without allocating it to any particular invoice or product.

 

Allocating the money to the correct products and invoices

The first task is to allocate part of the money you have received to the invoice for the product you are currently sitting on (in our example, product JKH). Highlight the invoice you want to allocate the money to. Click on 'full' if the invoice is paid off in full, and this places the amount of money in the 'allocation total' box above. Now highlight the payment, and click the 'allocate part' button (this is because you are going to use only part of the money to match to the invoice). Type in the amount to allocate to the invoice you chose earlier and press the green tick.

The next step is to match some of the money you have received to a different product. To do this, highlight the payment and again press 'allocate part' and type in the amount you wish to match to the invoice for the next product. When you click the green tick, this money again moves up to the 'allocation total' box. This time simply press the blue arrow next to the 'journal total' box, and the amount now moves up to this new box. In effect you have just told the program to remove the money from this product (in our example, product JKH).

Now set the 'event code' to the next product that you would like to allocate some of the payment to. The grid will change to show you the invoices for only this next product. Highlight the invoice to match the money to, and press 'allocate full' (if the invoice was paid in full). The amount again moves up to the 'allocation total' box. Once again press the blue arrow next to the 'journal total' box, and the amount will move up to new box. In effect you have just told the program to match money to this product.

Continue to allocate money from the payment to the different products in the same way until you have finished.