Electronic payment - double up

Matiu

Hi, 

 

Yesterday an electronic payment was processed for several vendors, and paid from our bank account. 

 

In the Electronic Payments account, I now have all the correspondind debits (memo - electronic payment) and credits (payment - vendor ABC). 

 

However, in my Bank Feed, the total payment remains unallocated, and I'm not sure what to do with this. My recollection is that normally the transaction in the bank feed allows me to code it as an Electronic Payment, but I only have Spend Money, Pay Bills, Transfer. Any suggestions? I can't send it to Electronic Payments at the moment as that will double up the debits, as the electronic payments are already showing in there. 

 

Really appreciate any asisstance anyone can offer. 

 

Thanks

 

Update: The bank processing date was set as 11/10 but was actually processed 10/10 and is coming through on 10/10 in the bank feed, if this might be a contributing factor. 

Genreve_S

Hi @Matiu, 

Thanks for posting your concern in the forum. 

 

We appreciate you explaining your concern in detail. I'm sorry to hear about your difficulties in allocating bank feeds for an electronic payment that is already recorded. In my understanding, all the payments corresponding to the bulk payment in the bank feed are processed as electronic payments (if not you will need to redo these transactions).

After recording the individual transactions as electronic payments. you will need to process these transactions in the Prepare Electronic Payment window to move the values from the electronic clearing account to the right bank account (bank feed), you will need to process this with the right date, account, and included transactions. 

 

If all is done correctly, the bank feed will automatically recognize this transaction as a possible match to the bank feed. 

 

I recommend reading through the article Making electronic payments directly. This would provide you with more information regarding electronic payments.

 

Let us know if you require any further assistance. We're happy to help. 

 

Cheers, 
Genreve