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Receive Payments: Ability to apply payment to invoices already in credit

Ultimate Partner

5,839Posts

1,080Kudos

755Solutions

5,839 Posts
Ultimate Partner
New Zealand

I would like to apply a customer payment to a credit, ie an invoice which is in credit. At present this can't be done. Where a customer pays in instalments, for example, and/or pays ahead of time, the existing process requires creating a separate credit for every receipt, which gets really messy. Being able to apply a payment to a credit would mean that only one invoice has to be created, even a nil value, then payments can all be applied to that invoice.

 

If you know other scenarios where this would help, please post them here.

 

Applying supplier payments to purchase debits could also be useful.

 

"Apply customer payment to a credit"

Current Status: Open
Last Changed: February 2014

Thanks for the great idea Mike. What does everyone else think about this idea? If you'd like to see it included in future releases of AccountRight please vote for this idea and leave your comments.

14 Comments
Will_H
MYOB Moderator
2,590 Posts
MYOB Moderator
Thanks for the great idea Mike. What does everyone else think about this idea? If you'd like to see it included in future releases of AccountRight please vote for this idea and leave your comments.
Geoff_
Ultimate Partner
1,721 Posts
Ultimate Partner

Hi Mike and Will

 

Sorry but maybe I am missing the point, probably comes with age, but why would you want to do that?

 

If a person is paying for an item in advance and you didn't want ot raise an invoice couldn't you just raise a Purchase Order or Quote under Sales and apply payments to that?

 

Although if it were me I would be raising an invoice anyway.

PHalls
Partner
254 Posts
Partner

I agree with Geoff-  is there any reason why the full invoice can't be recorded at the time of the sale, and have instalments recorded against it as they are paid?  You could insert a header detailing the progress payments required by each date.

 

If you are reporting on an accrual basis, you may want to split the total cost of the invoice into the relevant reporting periods - I would use the same Invoice No, but add a .1,.2,.3  etc to the end so you can easily see all the invoices that relate to the same sale.

 

Or, if the customer is paying in advance, presumably you will be invoicing  at some point in time - so for now, I would raise a Sales Order, and apply the payment to that. Note that you will need to set up a liability acount for Customer Deposits, - the client's payment will go there initially, but will be transferred across to your income accounts when you change the order to an invoice.

Mike_James
Ultimate Partner
5,839 Posts
Ultimate Partner

This is to address the situation where an invoice for the next sale won't be raised for some months, but the client sends weekly payments ahead. If I was to create a sales order, I could record one receipt against it. (btw I can't record receipts against quotes). But then when the next receipt comes in, I will have to create another order, etc.

 

Hence my suggestion - if I could create one invoice/order, then I could apply each payment to the same invoice/order, and finish off by finalising the invoice amount, or settling the credit against another invoice.

 

Another option I have is to record a service credit allocated to the bank account, which gets the money in the bank; but then I have numerous credits to settle against the next invoice.

 

I'm avoiding discussing GST at the mo because the rules for reporting GST on deposits are different in Australia & New Zealand; however, if this was a popular idea, it would need consideration.

Paula74
Contributing Cover User
12 Posts
Contributing Cover User

I have AccountEdge and would definitely like this option.  If a customer pays for an invoice more than once I can't currently allocate the payment.  As once the invoice goes into credit it doesn't show up as a closed invoice.  Please look at this option in future updates.

 

Im still trying to work out how to process my payment.  Any ideas would be greatly appreciated.

 

Thanks Paula

 

Mike_James
Ultimate Partner
5,839 Posts
Ultimate Partner

At the moment the quickest method is to record a negative service credit (amount -ve) allocated to the bank or undeposited funds account. This creates a credit and puts the money in your bank.

 

I can't vouch for the GST reporting effects though. 

OzTara
Experienced Cover User
42 Posts
Experienced Cover User

You can force MYOB to do this by adding a line item or a dummy sale amount EG $1000, press record, apply the payment, then open your invoice and delete the $1000 line item... it will send the already credited invoice further into credit. Voila!

 

FBKServices
Partner
8 Posts
Partner

Be able to post multiple over payments to a debtor invoice. MYOB Exo allows it.

Haydes
MYOB Product Team
6,317 Posts
MYOB Product Team

Hi @FBKServices 

 

This is possible in the current AccountRight, it does support over-payments and also payments on closed Invoices.

 

For details, I suggest having a read over this support note: Customer overpayments and double payments

 

Let us know if you have any questiosn on this.

FBKServices
Partner
8 Posts
Partner

What I mean is several over payment transactions. MYOB only allows one overpayment to be applied to a debtor invoice, then the invoice reverts to a credit and doesnt appear in the Receive payments window even when show closed invoices is selected.