Bank Reconciliation - one payment to multiple suppliers
Hi,
We have a problem reconciling bank payments. We order directly from the suppliers. However, we make a monthly lump-sum payment for all our purchases from various suppliers to a 3rd party (online platform) that is connected to those suppliers and invoices us for those orders. Therefore, we create purchase orders to various suppliers but we only have one big payment in bank feeds. I know it's possible to match that payment to multiple bills from one supplier. However, how do we match that payment to multiple bills from multiple suppliers? Is this even possible? Or do we have to create all the bills for one supplier (the 3rd party) to be able to reconcile this?
Thank you for your help,
Iza
Hi ZevoAdmin
Thanks for your post. From what you are describing Electronic Payments may be a possible solution. These help articles have detailed information and will guide you through setting up and recording electronic payments:
Setting up electronic payments for bank files
Making electronic payments with bank files
If you don't want to upload an ABA file to make that payment you can simply miss this step. When you are recording the transaction in the Prepare Electronic Payments window you will click on Bank File. An information window will open advising the transaction will be recorded, click Ok. Then the Save As window will open, instead of choosing where to save that ABA file click Cancel.
The bulk payment transaction will be recorded in AccountRight for you to match with the bank feed and the ABA file won't be saved for uploading as it's not required.
Please let me know if you need further help.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
