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change in invoice recordng / payment allocation

Patrick_H
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change in invoice recordng / payment allocation

HI all,

 

on or around 07/07/2022 my AccountRight Basics made a change to how it dealt with invoices and payment.

The 2 main things I noticed happened from that date:

  1. Payments applied to invoices recorded 2 entries in the Banking Register; a Deposit and a Withdrawal, with the same ID No, to my "Current Assets" account. Previously it would just record only the Deposit into the "Trade Debtors" account.
  2. Invoices created were straight away recorded in the Banking Register (as a Sales Journal) showing a deposit allocated to a "Split" account (I'm guessing the product/service and the GST?).

I don't remember changing any settings, so I am flabbergasted as to why this happened. It may or may not have coinsided with an update, I can't remember...

Any help would be appreciated.

 

This also only happened to my off-line business file, a second online file is as it used to be.

(This is a second business which we ere not sure how well it would do and did not want to upgrade the license just yet)

3 REPLIES 3
Komal_S
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Re: change in invoice recordng / payment allocation

Hi @Patrick_H 

Can you please check what's the "Asset account for Tracking receivables" and "Bank account for customer receipts" under Setup>>Linked accounts>> Sales accounts as the changes made to these accounts will impact the account changes to the transactions as well. I'd also recommend checking with all the users of the file if they have made any changes as these accounts should not change automatically. 

Kind regards,
Komal

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Patrick_H
Experienced Cover User
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Experienced Cover User
Australia
Experienced Cover User

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Re: change in invoice recordng / payment allocation

Hi Komal,

 

sorry for the late reply.

Both those are set to "Current Assets - Bank account"

 

I am the only one accessing the file, other than the accountant, though they did not access the file any time close to this change happenening...

Komal_S
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Accepted Solution Solved

Re: change in invoice recordng / payment allocation

Hi @Patrick_H 

The "Asset account for tracking receivables" is generally a trade debtors account which is different to the account chosen for "Bank account for customer receipts" (this is your bank account in which you receive payments).


If your account "Current Assets- bank account" is your bank account in which you receive payments, then you will need to change the "Asset account for tracking receivables" and vice versa. Please let me know if you have further questions on this. 

Kind regards,
Komal

MYOB Community Support

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