Receive Payments: Ability to apply payment to invoices already in credit

Hi Mike and Will

Sorry but maybe I am missing the point, probably comes with age, but why would you want to do that?

If a person is paying for an item in advance and you didn't want ot raise an invoice couldn't you just raise a Purchase Order or Quote under Sales and apply payments to that?

Although if it were me I would be raising an invoice anyway.

I agree with Geoff-  is there any reason why the full invoice can't be recorded at the time of the sale, and have instalments recorded against it as they are paid?  You could insert a header detailing the progress payments required by each date.

If you are reporting on an accrual basis, you may want to split the total cost of the invoice into the relevant reporting periods - I would use the same Invoice No, but add a .1,.2,.3  etc to the end so you can easily see all the invoices that relate to the same sale.

Or, if the customer is paying in advance, presumably you will be invoicing  at some point in time - so for now, I would raise a Sales Order, and apply the payment to that. Note that you will need to set up a liability acount for Customer Deposits, - the client's payment will go there initially, but will be transferred across to your income accounts when you change the order to an invoice.

This is to address the situation where an invoice for the next sale won't be raised for some months, but the client sends weekly payments ahead. If I was to create a sales order, I could record one receipt against it. (btw I can't record receipts against quotes). But then when the next receipt comes in, I will have to create another order, etc.

Hence my suggestion - if I could create one invoice/order, then I could apply each payment to the same invoice/order, and finish off by finalising the invoice amount, or settling the credit against another invoice.

Another option I have is to record a service credit allocated to the bank account, which gets the money in the bank; but then I have numerous credits to settle against the next invoice.

I'm avoiding discussing GST at the mo because the rules for reporting GST on deposits are different in Australia & New Zealand; however, if this was a popular idea, it would need consideration.

I have AccountEdge and would definitely like this option.  If a customer pays for an invoice more than once I can't currently allocate the payment.  As once the invoice goes into credit it doesn't show up as a closed invoice.  Please look at this option in future updates.

Im still trying to work out how to process my payment.  Any ideas would be greatly appreciated.

Thanks Paula

At the moment the quickest method is to record a negative service credit (amount -ve) allocated to the bank or undeposited funds account. This creates a credit and puts the money in your bank.

I can't vouch for the GST reporting effects though. 

You can force MYOB to do this by adding a line item or a dummy sale amount EG $1000, press record, apply the payment, then open your invoice and delete the $1000 line item... it will send the already credited invoice further into credit. Voila!

Be able to post multiple over payments to a debtor invoice. MYOB Exo allows it.

OMG, we OFTEN have customer who make a 2nd payment against an invoice already in credit. We have so many instances where we want to keep all payments from a customer against their single invoice - possibly ahead of actual sale, or more often, they make multiple payments, even after the original invoice has been paid in full.  Any other option doesnt make sense. Logically - if a customer pays against an invoice number, then we want to be able to process their payments against that original invoice, until the final reconciliation is made.

I also note this dates back to Feb14 - what has happened  since then to resolve the matter when a customer makes additional payments against an invoice that is already in credit?