How to match a bank transaction that has been paid by multiple people

JenS19

Hi

I've had a bank transfer come in to my bank but this 1 transfer has been paid by 4 different people/invoices. 

I can't see the invoices to match them too, as I'm guessing they are closed. 

I can categorise this bank transfer but because they have been paid via invoices, wouldn't this then double up the amount? 

Thanks

Isaiah_C

Hi @JenS19,

 

If the invoices have already been recorded as paid, but the payments were grouped into a single bank transfer, recording the deposit directly to the bank could result in duplication. Instead, the payments should be recorded to Undeposited Funds first. This acts as a temporary holding account, allowing multiple payments to be combined before being deposited into the bank. Once all payments are recorded to Undeposited Funds, a Transfer Money transaction should be created to move the total amount to the correct bank account. This ensures the invoices are properly accounted for, and the bank deposit matches without duplicating revenue.

 

Regards,

Sai