2 Invoices 2 payments - Amounts are different

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2 Invoices 2 payments - Amounts are different

I have created 2 monthly invoices for the same customer. Each invoice is for the same $ amount. I have received 2 payments from the customer which are both for different $ amounts. These 2 payments in total equal the total of the 2 invoices but do not match each individual invoice. As a result I am unable to allocate the payments to the respective invoices. Any help would be appreciated.

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Re: 2 Invoices 2 payments - Amounts are different

Hi @ColNor 

 

Just to fully understand the situation you have a case similar to the following:

Two Invoices both for $100 but the customer has paid $140 and $60 in two separate transactions

 

If I have understood that correctly you could use the following process to deal with those bank transactions:

  1. Navigate to Sales>>Take payment
  2. Select the customer and enter the first payment transaction- allocating the required amount to one or more invoices for that customer.
  3. Record the second payment transaction for the customer - allocating the required amount to one or more invoices for that customer.

Once you have manually recorded those Take payment transactions, you will have the necessary transactions listed in the Match functionality of the bank transaction to match those bank transactions to i.e. match the bank transactions to the Take payment transactions.

 

Do let us know how you get on and if you require further assistance.

Kind regards,
Steven

MYOB Community Support

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Re: 2 Invoices 2 payments - Amounts are different

Hi Steven, thansk for that. Can you just confirm that I can allocate a payment amount to the invoice that is greater (or less) than the invoice amount? As per my example allocate payment of $140 to invoice 1 of $100 and allocate payment of $60 to invoice 2 of $100.

 

Also what happens to the 2 payment transctions that are currently listed in the match functionality of the bank transactions which I can't match? 

 

Thanks

  

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Re: 2 Invoices 2 payments - Amounts are different

Hi Steven, thansk for that. Can you just confirm that I can allocate a payment amount to the invoice that is greater (or less) than the invoice amount? As per my example allocate payment of $140 to invoice 1 of $100 and allocate payment of $60 to invoice 2 of $100.

 

Also what happens to the 2 payment transctions that are currently listed in the match functionality of the bank transactions which I can't match? 

 

Thanks

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MYOB Moderator
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Re: 2 Invoices 2 payments - Amounts are different

Hi @ColNor 

 

When matching a bank transaction and matching to invoices you are not able to choose the amount to match from that invoice payment. It works on the principle that if the user selects to match the amount to an invoice the full amount of the invoice is paid. If there is any residual it can be then applied to another invoice.

 

For example, say you have Invoice #1 for $100 and Invoice #2 for $75, a payment comes in of $150. That $150 will be applied to the first invoice amount you select i.e. invoice #1 gets $100 ($50 remains). This residual amount can then be applied to Invoice #2 to make it $25 remaining ($75 - $50 = $25).

 

However, if you actually use the Sales>>Take payment process, you can select the desired amount against the intended invoices. Then from a banking point of view, it would then be a process of matching the bank transaction to the recorded Take payment transactions.

If you take the example of before, Invoice #1 $100 and Invoice #2 $75, you could enter an $80 payment against Invoice #1 and then $70 against Invoice #2 using the Take payment process. You can then match the $80 and $70 Take payments transactions to that $150 bank transaction.

Kind regards,
Steven

MYOB Community Support

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