Hello Myob,
In January, I created a bank file which was sent to management for payment via internet banking, unfortunately, this bank file was uploaded and paid twice in the bank.
Both Electronic Payment transactions are shown in the bank feeds. However, now that I want to reconcile January, it is out of balance as only one Electronic payment is showing in the Reconcile Accounts window, I am unsure how to fix this and reconcile.
Please help!
Hi Valy,
Thanks for your post, and my apologies for the late response. Here's how I would handle the situation: I would replicate what occurred in real life, where double payments were made and sent to the bank.
The complete process I would follow is outlined below:
These debit notes can be viewed and addressed via Purchases >> Purchase Register >> Returns & Debits.
Following the above process will also display those transactions in the Prepare Electronic Payments window, ready for processing to the required bank account. Once processed, you can then match the combined electronic payment to the bank transaction that has been received (similar to the original payment).
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Regards,
Earl
Hello Earl,
Thank you for the reply and apologies for the late response.
I did replicate the bank file and it created debit notes as mentioned, what i failed to mention in my original email is that the refunds from the double payments were refunded in January and I applied them using the receive money transaction when they came in.
Now i have debit notes that I cannot apply as the double payments were applied already. Do I delete the deposit transactions (Receive Money) and re-apply them using the receive refund in the Purchase Register?
Thanks
Hi Valy,
Absolutely! If you've already used the 'Receive Money' transaction to apply refunds from the double payments, you might find yourself with debit notes that can't be applied because the double payments have been taken care of. Here's a simpler way to deal with this: You should remove the deposit transactions (receive money) and apply them again using the 'Receive Refund' in the Purchase Register. But it might be a good idea to get in touch with your accountant while doing this. They can give you advice that's more suited to your situation and help you make sure everything is done right.
Feel free to post anytime you require additional assistance.
Otherwise, if my response has answered your inquiry, please click "Accept as Solution" to help other users find this.
Kind regards,
Shella
