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Share your ideas for improving the new AccountRight. Vote on ideas and discuss them with the MYOB product development team.

AccountRight

Receive Payments: Ability to receive a payment in bulk from multiple debtors into the one account

Matt_Rogaloff
Contributing Cover User

7Posts

28Kudos

0Solutions

7 Posts
Contributing Cover User

Hi,

 

i would like to put  forward the idea of "bulk receiveing payments" from multiple debtors into an account.

 

To put into context, we run an online business where we get several sales a day via our website and ebay. 
We load our customers individually (onto separate cards) and many of our customers are also repeat.

From the invoices we naturally receive a number of payments each day - going (usually) to the same accout - be it paypal, chequing account etc etc. 

It would be handy and very time effective to be able to "select" all debtors who have paid into the same account on a particular day and "process" with one click of a button. 

 

From a back end persepctive effectively it is selecting multiple trade debtors (DR) and allocating to an asset account (CR) in one move rather than doing this individually.

NB. Emailing the invoices is not important to us - as we print and enclose with our packages.

 

Any work around or implementation would be greatly appreciated! Smiley Happy

 

Best regards,

Matt

 

"Bulk Receiving of Payments"

Current Status: Open
Last Changed: March 2015

Hi @Matt_Rogaloff 

Thank you for your idea in regards to AccountRight and doing bulk payments. 

Currently invoice payments do need to do one by one. I couldn't think of a workaround that would allow you to record those payments faster/ in bulk. However someone may have a workaround that they use and I would encourage them to share.

Along with that I would encourage others to vote and comment if required for this idea if they would like to see bulk payments for customers added

15 Comments
MYOB Moderator Steven_M
30,365 Posts
MYOB Moderator

Hi @Matt_Rogaloff 

Thank you for your idea in regards to AccountRight and doing bulk payments. 

Currently invoice payments do need to do one by one. I couldn't think of a workaround that would allow you to record those payments faster/ in bulk. However someone may have a workaround that they use and I would encourage them to share.

Along with that I would encourage others to vote and comment if required for this idea if they would like to see bulk payments for customers added

ChanW
2 Posts
Cover User

I read your previous answer in reply to above question. However according to the method you have shown, you need to apply certain amount with one customer and record it and Select another customer (on new window/page) and repeat the same process. This doesn't help and it consume lot of time. If you have received a bulk amount which you need to apply over multiple customers on multiple invoices raised on a particular date for which that bulk amount belongs to, then you should have the facility to select multiple customers and all the invoices belong to those customers should show up on one screen which allows you to apply the bulk payment over the invoices raised on one particular date over multiple customers in one shot which save lots of time and very easy to reconcile the bank rec because exactly the same bulk amount show up in the cash book . I have seen this facility is there in some software such as Micropower Accounting system, Appreciate if you could improve MYOB like that which is massive helpful. thanks

"allocating a single payment for multiple customer"

 
Trusted Cover User tjejojyj
71 Posts
Trusted Cover User

We are going to import payments soon so here my solution to the problem of single payments for muliple invoices is as follows:

 

1. apply each payment in turn to the invoice but make the payment receipted to the "1-1140 Undeposited Funds" account (or equivalent)

 

2. import a GJ for each batch of payments with the total payment amount and the following account allocation:    

                    CR  1-1140 Undeposit Funds   xxx.xx

                    DR  1-1105 Cheque Account   xxx.xx

 

3. Go into "Prepare Bank Deposit" on the "Banking" command centre.  Since the GJ must exactly match the payments applied you can just tick all and they will net to $0.00 then write in the memo: "Debtor payments batching" or something else to your preference and record the transaction.

 

I will set up Excel spreadsheets to work out the fields and the accounts then a macro to auto  save the .csv files so they are ready for import.

 

I can't see why this wouldn't work but please let me know if there is any flaw.

 

Regards,

Tim

Ultimate Partner David_Cree
994 Posts
Ultimate Partner

Hello Tim, @Matt_Rogaloff @tjejojyj

You do not  need to do step 2, as step 3 will batch the payments and allocate it to the bank account anyway.

Cheers

David

Trusted Cover User tjejojyj
71 Posts
Trusted Cover User

Hi David,

 

Yes.  Agreed.  I think I will us a different clearing account (other than "Undeposited Funds") so the transactions don't "choke up" the Prepare Bank Deposits window.

 

Thanks,

Tim

Ultimate Partner David_Cree
994 Posts
Ultimate Partner

Tim,

You can only have one  Undeposited funds account linked to your prepare bank deposits, so that will not work.

 

For the imported receipts that go to the Undeposited Funds account create a new payment type for the payments that you receive. I have clients that have Payment types such as  PayPal, Online, or similar. Then when you prepare the Bank Deposit you select that as the payment type. This will not "choke up" your Prepare Bank Deposits window.

Cheers

David

Trusted Cover User tjejojyj
71 Posts
Trusted Cover User

Hi David,

 

Why do I have to use an account that it linked to the "prepare bank deposits" at all?  

 

I would think the way to go is to create a new account called "Payment Batch Clearing Account" or something similar.  It could sit right nexts to the "Undeposited Funds" and the bank account so you will more likely notice if it has a non-zero closing balance.

 

The debits and credits should net out to zero.

 

Regards,

Tim

Ultimate Partner David_Cree
994 Posts
Ultimate Partner

Hello Tim, @tjejojyj

You can certainly set up another clearing account for these payments and do it manually, but the Undeposited Funds account is already setup to do this in a linked way  when you prepare the bank deposit.

The Undeposited funds account should always have a zero balance when all the banking is done so you know when you have done something wrong or not cleared it.

Cheers

David

Trusted Cover User tjejojyj
71 Posts
Trusted Cover User

Hi David,

 

I would rather leave step 2 in my process and abandon step 3.  The less manual entries the better since I can use excel to check that the items to be imported reconcile and there is less opportunity for data enry errors.

 

Regards,

Tim

TraceyD3110
2 Posts
Cover User

It would be great if MYOB would allow for a tick option for Accounts Receivables, possibly next to "Open Invoices" Register rather than clicking though the prompts to accept a payment. or even in the To do List, similar to  Account Payables bill due.

 

Tracey