Matching Contra Transactions with Bank Feed

marple

We have a Supplier who is also a Customer so have created a Contra Account to process their Bills/Payments.

I'm having a problem with matching the transfers between the Contra account and our normal Bank account with the Bank feed amount due of 206.86.

 

I Created Invoices and Bills. 2x Invoices and4x Bills.

Invoices total: 192.05

Bills total:        398.91

Payment Due 206.86

 

I have Taken Payments for Invoices by using "Create Invoice Payment" and used Contra as bank acount.

Then used Banking -  "Transfer Money" to transfer amount from the Contra to the Bank Account.

 

I Paid Bills by using "Create Supplier Payment" and using Contra as the bank account.

Then used Banking - "Transfer Money" to transfer amount from the Bank Account to the Contra.

 

I processed each of the Bills and Invoice payments and transfers individually to and from the Contra (6 transactions).

The Contra account balance is now 0.00.

 

Now when I try to Match the transactions to the Bank feed amount due of 206.86 I'm not sure how to do it.

 

Thank you for your help.

Genreve_S

Hi @marple,

 

Thanks for posting your concern in the forum. 

 

I'm sorry to hear about your difficulties matching your bank feeds. In my understanding, it's better to process both payments for invoices and bills into the Contra account and create a Transfer Money transaction from the Contra account to the Bank Account with the amount of 206.86. But I recommend speaking to an accountant or financial advisor to make sure you record this properly. 

 

Let us know if you require any other assistance. 

 

Thanks,
Genreve