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Paying open invoices by cheque

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Experienced Cover User YccA
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Paying open invoices by cheque

I have created an invoice for a client and they have paid by cheque which has been banked with other takings for the day so therefore is in a lump sum with other monies.

 

How do I allocate part of the bank deposit to the outstanding invoice and the rest to the shop sales account?

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Ultimate Partner Geoff_
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Re: Paying open invoices by cheque

Hi @YccA

 

If it were me I would do a "received money" entry and split the deposit up there between your invoice and the Shop Sales, and this should match the money coming in on your bank feed

Geoff
Busselton Bookkeeping Service
MYOB Bookkeeping Partner, BAS Service Provider
Phone 08 9754 7680
Experienced Cover User YccA
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YccA
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Re: Paying open invoices by cheque

Thx Geoff - the amount has already come in through automatic bank feed, so would you delete the bank feed?

Experienced Cover User YccA
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YccA
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Re: Paying open invoices by cheque

Hi Geoff

 

I have tried what you suggested but it hasnt closed the invoice that is outstanding on my dashboard. surely I don't delete the invoice?

Ultimate Partner Geoff_
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Re: Paying open invoices by cheque

Hi @YccA

 

Sorry I unfortunately do not have a example file for MYOB Essentials linked to a bank feed, so I am using my bookkeeping experience to answer your question on to how to apply this type of mixed bag payment.

 

However having said that have a look at :- 

http://help.myob.com/wiki/display/ar/Receiving+payments

 

From my way of thinking you need to show the invoice as having been paid and the cash sales being allocated to Sales.

 

Maybe you can raise an invoice for Cash Sales just in this case to get over the hurdle?

Or credit both the transactions to an Account called Undeposited  Funds which you can then transfer to the Bank Account.

Actually I always thought you could split the amounts coming in on the bank feed?

No doubt there are other MYOB clients who also have this problem I wonder know they get over it. Hopefully they subscribe to the forum and will be able to help you.

 

Failing that you could always invite me to access your books and work it out for you? No Charge.

Geoff
Busselton Bookkeeping Service
MYOB Bookkeeping Partner, BAS Service Provider
Phone 08 9754 7680
Experienced Cover User YccA
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YccA
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Re: Paying open invoices by cheque

Thank you Geoff for your suggestions.

 

I have tried quite a few ways - yes I can split a payment that comes in through bank feed but there must be an invoice open for it to be paid towards, and I only have the one invoice because shop sales is a collection of cash payments banked together.  So therefore no invoice.

 

I am hoping MYOB has an option for this type of transaction, if not, then it probably needs to addressed by them.

 

You are quite welcome to have a play with it if you like. I will give you access 

 

Kind regards

Karen

MYOB Moderator Steven_M
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Re: Paying open invoices by cheque

Hi @YccA

 

I would be going to Sales>>Take payments and record the payment against the open invoice. This will create an payment transaction. For the rest of the money i.e. the other takings go to Banking>>Receive money and receive the money against the appropriate account. If its for a customer payment you would go to Sales>>Take payments. 

Once those transactions have been recorded you would be able to go to Banking>>Bank Transactions use the drop down arrow of the transaction (right hand side) and select Match transaction. You will then match that Bank Transaction to those recorded transactions in the system i.e. the customer payment and the other takings. Please note that you may have to select Filter By All transactions rather than Exact matches.

Kind regards,
Steven

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Ultimate Partner Geoff_
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Re: Paying open invoices by cheque

Hi Karen

 

Sorry tried to access your files on line but was unable to do so.

 

Something I must have been doing wrong

 

Best regards

Geoff
Busselton Bookkeeping Service
MYOB Bookkeeping Partner, BAS Service Provider
Phone 08 9754 7680
Experienced Cover User YccA
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YccA
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Re: Paying open invoices by cheque

Thx Steve - I did try this but it wouldnt let me save a partial payment to the open invoice (this is how I would have expected it to work but the save button wasnt highlighted)

I ended up making another invoice for my shop sales and then splitting it not ideal but it worked\

Experienced Cover User YccA
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YccA
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Re: Paying open invoices by cheque

Sorry Geoff I ended up just making another invoice for the shop sales and allocating it that way Smiley Happy

 

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