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Hi,
A customer has sent 2 bank payments to cover 10 invoices. Neither of the payments match exactly to the invoices but together, they cover the entire balance.
My question is, how to do allocate these in banking?
Solved! Go to Solution.
Thanks for getting back to us, Rafiq.
You can delete the payments to make sure that you'll be able to match the transaction in QuickBooks. Let me show you how:
Once the payment is already deleted the invoice will open again. Then, we can go back to the For Review tab to match the transaction.
Also, you can read out this article on how to match your bank and credit card statements: Reconcile an account in QuickBooks Online.
Let me know if you need anything else. I'll be here to lend a hand. Take good care.
Hello Rafiq,
Click into the transaction in the for-review tab and select 'Find Match' - this will bring up all available matches on the following screen where you can select multiple transactions to apply to the one payment.
Please note this will only work if the total amount of one payment equals the transactions selected.
Thank you
Hi,
That is the problem, the totals do not equal a set of invoices, but the total sum is equal to the total outstanding on the account.
Thanks for getting back to us, Rafiq.
You can delete the payments to make sure that you'll be able to match the transaction in QuickBooks. Let me show you how:
Once the payment is already deleted the invoice will open again. Then, we can go back to the For Review tab to match the transaction.
Also, you can read out this article on how to match your bank and credit card statements: Reconcile an account in QuickBooks Online.
Let me know if you need anything else. I'll be here to lend a hand. Take good care.
Hi,
I have not yet reconciled those 2 payments as individually, they do not equal a combination of the invoice totals, but together the 2 payments cover the whole balance.
Can I allocate a payment to the account and then clear the invoices?
I can't find a solution to this. This is not about reconciling payment to invoice exactly as I know how to do that, this is reconciling payments larger or smaller than the invoice values.
Thanks
I should add, I followed the method suggested and went to find match and selected invoices, I selected several invoices, when getting close to the total I select the next invoice, it shows as equal but the total paid is now £100 less than the total on the invoices.
Does the extra balance carryover or stay on the account?
Hi,
I followed the steps outlined previously and matched the invoices to the payment including going over the payment amount, it wasn't clear at all but the balance remains. I then allocated the second payment to the same invoice with balance and the remaining invoices and it covered the whole amount.
It would be easier if there was an indication that there is balance left on an invoice - maybe I am not seeing it or looking in the right place.
Thanks
Brilliant, Pleased you have managed.
A way of seeing if there's a balance left on an invoice is, When on the invoice section if you have the balance showing it will show you the balance of the invoice. Thanks
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