Allocating pmt from internal transfer

Hi CollTspt,

It sounds like the payment needs to follow the money trail, rather than being recorded directly into the bank account you intended to use. If both bank accounts belong to the same company file, record the customer payment against the invoice and set Deposit to account to the bank account where the money actually arrived. Then go to Banking > Transfer money and transfer the amount from that bank account to the other bank account. This keeps the invoice payment and both bank accounts aligned without recording the payment twice.

If the two properties are held by separate legal entities or company files, don’t record this as a simple transfer within one file. You’ll generally need an intercompany due-to/from account, with the matching entry recorded in each company file. It’s best to confirm that treatment with your accountant. For the same-file transfer steps, see Transferring money between accounts.

Cheers,

Doreen

Thanks for your reply Doreen.

Each company file has their own bank account.

I have done the following & it seems to have balanced everything...

Sales > Receive Payments (to pay off invoice) > Deposit to Account (transfer account for other company)

Then...

Banking > Receive Money > Deposit to Account (Bank account) > Acct No. is transfer account for other company

Bank reconciliations reconcile and internal transfers balance too.

Thanks again

Sue