Receive Payments: Ability to receive a payment in bulk from multiple debtors into the one account

I read your previous answer in reply to above question. However according to the method you have shown, you need to apply certain amount with one customer and record it and Select another customer (on new window/page) and repeat the same process. This doesn't help and it consume lot of time. If you have received a bulk amount which you need to apply over multiple customers on multiple invoices raised on a particular date for which that bulk amount belongs to, then you should have the facility to select multiple customers and all the invoices belong to those customers should show up on one screen which allows you to apply the bulk payment over the invoices raised on one particular date over multiple customers in one shot which save lots of time and very easy to reconcile the bank rec because exactly the same bulk amount show up in the cash book . I have seen this facility is there in some software such as Micropower Accounting system, Appreciate if you could improve MYOB like that which is massive helpful. thanks

"allocating a single payment for multiple customer"

We have large corporations that pay us in one deposit but the invoices may be across 3 or 4 different debtor accounts. It would be great if we were able to search for invoice numbers and allocate the deposit to them rather than just one debtor account at a time. It is very time consuming to do it through undeposited funds and create a deposit to match the bank feed. I thought you could do this in the online version but it removes the allocation once you enter another invoice number in the search feature. 

Hi Matt_Rogaloff 

Thank you for your idea in regards to AccountRight and doing bulk payments. 

Currently invoice payments do need to do one by one. I couldn't think of a workaround that would allow you to record those payments faster/ in bulk. However someone may have a workaround that they use and I would encourage them to share.

Along with that I would encourage others to vote and comment if required for this idea if they would like to see bulk payments for customers added

We are going to import payments soon so here my solution to the problem of single payments for muliple invoices is as follows:

1. apply each payment in turn to the invoice but make the payment receipted to the "1-1140 Undeposited Funds" account (or equivalent)

2. import a GJ for each batch of payments with the total payment amount and the following account allocation:    

                    CR  1-1140 Undeposit Funds   xxx.xx

                    DR  1-1105 Cheque Account   xxx.xx

3. Go into "Prepare Bank Deposit" on the "Banking" command centre.  Since the GJ must exactly match the payments applied you can just tick all and they will net to $0.00 then write in the memo: "Debtor payments batching" or something else to your preference and record the transaction.

I will set up Excel spreadsheets to work out the fields and the accounts then a macro to auto  save the .csv files so they are ready for import.

I can't see why this wouldn't work but please let me know if there is any flaw.

Regards,

Tim

Hello Tim, Matt_Rogaloff tjejojyj

You do not  need to do step 2, as step 3 will batch the payments and allocate it to the bank account anyway.

Cheers

David

Hi David,

Yes.  Agreed.  I think I will us a different clearing account (other than "Undeposited Funds") so the transactions don't "choke up" the Prepare Bank Deposits window.

Thanks,

Tim

Tim,

You can only have one  Undeposited funds account linked to your prepare bank deposits, so that will not work.

For the imported receipts that go to the Undeposited Funds account create a new payment type for the payments that you receive. I have clients that have Payment types such as  PayPal, Online, or similar. Then when you prepare the Bank Deposit you select that as the payment type. This will not "choke up" your Prepare Bank Deposits window.

Cheers

David

Hi David,

Why do I have to use an account that it linked to the "prepare bank deposits" at all?  

I would think the way to go is to create a new account called "Payment Batch Clearing Account" or something similar.  It could sit right nexts to the "Undeposited Funds" and the bank account so you will more likely notice if it has a non-zero closing balance.

The debits and credits should net out to zero.

Regards,

Tim

Hello Tim, tjejojyj

You can certainly set up another clearing account for these payments and do it manually, but the Undeposited Funds account is already setup to do this in a linked way  when you prepare the bank deposit.

The Undeposited funds account should always have a zero balance when all the banking is done so you know when you have done something wrong or not cleared it.

Cheers

David

Hi David,

I would rather leave step 2 in my process and abandon step 3.  The less manual entries the better since I can use excel to check that the items to be imported reconcile and there is less opportunity for data enry errors.

Regards,

Tim