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Overpayment to Supplier and Payment Allocation in two different companies

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Jsch
Experienced User
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Overpayment to Supplier and Payment Allocation in two different companies

Hello There,

I overpaid our supplier in USD from subsidiary and used the overpayment against parent's outstanding invoices.

However, they are both in different currencies. I am using MYOB Advanced. 

Parent – Company A = AUD owing USD 500 to supplier C

Subsidiary – Company B = SGD owing USD 400 to supplier C

Supplier C  invoice is in USD

Company B paid  USD600 to Supplier C (overpaid by USD200) and want to use the overpayment to pay for Company A. Company A only need to pay remaining USD300.

Each company A (AUD) and B (SGD) have different currency in the system and the supplier they are paying is in USD.

Invoices already entered in the systems for each company.

How should we allocate the overpayment from Company B to Company A in MYOB?

How do we close off the payment in Company A in MYOB?

Appreciate anyone help. 

Thank you in advance. 

2 REPLIES 2
Bridie_M_MYOB
MYOB Moderator
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MYOB Moderator
MYOB Moderator

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Re: Overpayment to Supplier and Payment Allocation in two different companies

Hi Jsch, 

 

Thank you for your post. 

 

I have sent you a private message requesting some further information 

 

 

Kind regards,
Bridie

MYOB Community Support

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Jsch
Experienced User
10 Posts
Experienced User
Experienced User

10Posts

2Kudos

0Solutions

Re: Overpayment to Supplier and Payment Allocation in two different companies

HI @Bridie_M_MYOB 

 

Thank you for your reply.

We have found the solution for this issue.

Once again, thank you. 

 

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