one payment for 2 different invoices under different myob company files

ddsant1
2 Posts
User
Australia

one payment for 2 different invoices under different myob company files

Hi,

As of the moment, the business has two different myob company files set up. The old myo file is only used now for the receivables. We are only going to use it until we have closed all sales recorded. Meanwhile, we have a new myob company file which we use for all transactions.

 

One client has paid the total amount of two different invoices, one invoice for each of the companies. For

example:

 

Client XYZ paid $500, which is visible in the bank feed of Platinum.myo

Invoice 1 - $200 - recorded on Plus Accounting.myo (old myob)

Invoice 2 - $300 - recorded on Platinum.myo (new myob)

 

How do you suggest to allocate the payment using the receive payment function? thanks

 

 

 

 

1 REPLY
Super Partner PaulBihet
599 Posts
Super Partner
Australia

Re: one payment for 2 different invoices under different myob company files

Assumption you are treating the files as 2 seperate companies and the $200 should be repaid to Old company

In the new file

You will need a liability account called Loan from "Insert Old Company Name here"

You will need a clearing account an asset account similar to undeposited funds make it a bank type account

Receive payment of $300 invoice to this account

Also to this account receive a $200 Receive money from the loan account you created

Allocate the bank feeds $500 as a receive money to Bank account from the clearing account

Pay $200 from bank account to old company allocate transaction to loan account

Summary

New clearing account

$200 in

$300 in

$500 out (End result Zero balance)

Loan account 

$200 in

$200 out (End result Zero balance)

Bank Account

$500 in

$200 out (End result $300 gain as receipt of payment)

Paul Bihet MYOB Certified Consultant
(Bookkeeper Support & Training)
MYOB Sales, Installation & Support
B.A.S. Service Provider
Phone (08) 7131 1116
Mobile 0413 313 403
Fax (08) 7200 7715
Email: paul@mysupportman.com.au
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