Receive invoice payment in a split deposit


E

elkiwigrande

Hi,

Like most businesses I deposit multiple checks into my bank account at
one time. When I download the transactions from the bank, only the
total is downloaded.

My question: Does anyone know how I can use the "Receive payment"
feature to split this downloaded total into several invoices, and have
them considered paid by Money (2007 Home and Business)?

Thanks,

Chris
 
Ad

Advertisements

B

Big Kiwi

Hi,

Like most businesses I deposit multiple checks into my bank account at
one time. When I download the transactions from the bank, only the
total is downloaded.

My question: Does anyone know how I can use the "Receive payment"
feature to split this downloaded total into several invoices, and have
them considered paid by Money (2007 Home and Business)?

Thanks,

Chris
I have found workarounds for my problem on this site. Thanks.
 
Ad

Advertisements

S

Steve

(e-mail address removed) wrote on 11 Sep 2007 in group
microsoft.public.money:
Like most businesses I deposit multiple checks into my bank account at
one time. When I download the transactions from the bank, only the
total is downloaded.

My question: Does anyone know how I can use the "Receive payment"
feature to split this downloaded total into several invoices, and have
them considered paid by Money (2007 Home and Business)?
1) Create a "suspense" account. I named mine "New Life Payments" because
that's the only reason for it (right now).
2) When you receive payment for an invoice, put the money into the
suspense account. Do this for multiple invoices. The balance in the
suspense account will rise with each invoice payment received.
3) When you make the bank deposit, record it as a transfer from the
suspense account to your business checking account. After this, the
suspense account balance will be zero.

The only other way to do this is to make each payment a separate
deposit, but then you run into a problem with Money not matching the
deposits, for which the solution is to -- wait for it -- run your
transactions through a suspense account.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top