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More flexible matching for bank transactions

MYOB Staff Post Kylie_N
14 Posts
MYOB Staff Post
Kylie_N
MYOB Staff Post

14Posts

15Kudos

0Solutions

 

If you’ve received a partial payment towards one of your invoices, or paid an instalment towards one of your bills, you don’t have to wait for the whole payment to go through before you can match it to your bank transactions.

 

In your bank feed, just expand the transaction and click the Match transaction tab. Make sure you set the filters to show all transactions, not just those matching the amount of the payment.

 

PartialPayments-SelectAllTransactions.png

 

In the list of unmatched transactions, choose which ones to match the payment to.

 

If the payment is less than the amount of the transaction, the unpaid amount is shown in the Amount remaining column. You can see the original amount of the transaction next to the transaction description.

 

PartialPayments-OneTransaction.png

 

If you’ve already matched the payment to multiple transactions and you have a leftover amount (for example, if a customer has paid you a lump sum towards all of their invoices), the process is the same. You just need to make sure you’ve accounted for the full amount of the bank transaction before you can save.

 

PartialPayments-MultiTransaction.png

 

Invoices won’t be marked as paid until the full payment has been received.

 

 

 

11 Comments
Experienced Partner Geoff_Colwill
121 Posts
Experienced Partner

Love Your Work Smiley Happy

Cozikan
5 Posts
Cover User

This upgrade is great, but I have a client who has paid 2c more than the invoice balance (must be due to GST calculations differening).  Only way I can see to match the invoice to payment is create a 2c invoice.... any other suggestions?

 

MYOB Moderator Liam_M
3,488 Posts
MYOB Moderator

Hello @Cozikan

 

You can record the overpayment by selecting 'take payments' from the sales menu. Enter the full amount actually paid (including the extra 2c) against both the total amount received and the payment amount for the invoice. This will create a small customer credit you can settle against a future invoice to the customer. It'll also create a payment transaction you can match to the bank feed rather than matching the invoice to the bank feed.

wainstyle
6 Posts
User

Hi

team

why on my iPhone7 can I not take payments when a client pays in cash ? and he requires a invoice for this payment. ? 

 

So I click on make payment then the next screen is take payment. 

But when you click on a box field nothing comes up ? It's just blank no bank details eg: petty cash / bank details. 

 

MYOB Moderator Neil_M
10,569 Posts
MYOB Moderator

Hi @wainstyle

 

Welcome to the MYOB Community Forum, I hope you find it a great resource.

 

Are you able to try clearing the cache on the Chrome app on your iPhone? If you aren’t sure on how to do this, then you may find this article helpful Clear the Mobile Google Chrome and History on iOS.

Clearing the cache censures that there is no previously saved information when the web page loads up your MYOB Essentials file.

 

Do let us know how you get on with this

Tracey15
2 Posts
Cover User

When customers over pay and you go into sales menu and take payment the system will not let you add that payment on to a customer if there is no invoices in system for them.

What do we do then?

Former Staff Tallie_M
4,461 Posts
Former Staff

Hi @Tracey15,

 

To use the Sales > Take Payments window, you do need to have an invoice entered for the relevant customer. Once you've done that, you are able to take overpayments by simply entering in the full overpaid amount in the 'Total amount received' and the 'Payment amount' fields. This will create a customer return that you can refund back to the customer, or apply to a future invoice.

 

Cheers,

 

Tallie

MYOB Social Support

Partner AlanT
1,107 Posts
Partner

@Tallie_M

 

Hi Tallie,

 

Wouldn't it be good if this could also be done from the Bank Transactions window when you select to Match Transactions.

 

It would mean that we wouldn't need to switch between two windows.

 

:-)

 

Alan

Partner AlanT
1,107 Posts
Partner

@Tracey15

 

Hi Tracey,

 

Don't forget that if you wish to apply the credit balance against a future invoice, you will then need to offset the credit balance against the new invoice using the Sales » Process Customer Returns option, otherwise your list of open invoices will continue to show the overpaid invoice with the credit balance outstanding.

Contributing Cover User LucyMik
10 Posts
Contributing Cover User

There is a problem with the reports. My clients are in cash basis and when i get the P&L all good is in cash mode, but when i get the balance sheet is coming up in a accrual mode and this need to be fixed asap because the EOFY is on the doorstep and we need correct reports.

Partner AlanT
1,107 Posts
Partner

@LucyMik

 

Hi Lucy,

 

Could you explain a little more about what you mean by a Cash Balance Sheet?

 

I don't think I have ever come across one before.  By definition, a balance sheet is a report that shows what your business owns and what it owes.  The difference is the owner's equity.

 

Regards,

 

Alan