Receive payments from invoices matched with check deposits


G

Grace

I generated some invoices and emailed them to our customers, then they sent in
checks which I later deposited at the bank.

Now, when I got the checks I went into money and opened the invoices and
select 'receive payment' and did that process. Then when I upload my bank
statement it shows the deposit of the checks, but now I have 2 enteries of
the same amount for the same things. Which one do I delete, or is there a
way to let money know that, when Im entering those invoices that the deposit
uploaded from the bank is the same transaction?

Help
 
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S

Steve

I generated some invoices and emailed them to our customers, then
they sent in checks which I later deposited at the bank.

Now, when I got the checks I went into money and opened the invoices
and select 'receive payment' and did that process. Then when I upload
my bank statement it shows the deposit of the checks, but now I have
2 enteries of the same amount for the same things. Which one do I
delete, or is there a way to let money know that, when Im entering
those invoices that the deposit uploaded from the bank is the same
transaction?
This is a long-standing problem. Microsoft hasn't fixed it in the last
few updates, so I don't expect them to ever fix it (sigh).

Here's a workaround:
1. Create a cash account with the name "Payments Passthrough", or some
other name that makes sense to you.
2. When you receive payment for an invoice, have the payment go into
your "Payments Passthrough" account.
3. Open "Payments Passthrough" and create a transfer transaction to move
the money to the correct account.
4. Use <Shift>+click in the "C" column to mark both transactions as
reconciled. Your balance in "Payment Passthrough" should now be zero.

This is a pain, but now your bank downloads will match up with the
transactions.

One side benefit: You can now make a single deposit of multiple payments
and still have download matching work. Use the technique above, but
receive payment on multiple invoices. Go to the bank and deposit all the
checks in one transaction. Create a single transaction in "Payment
Passthrough" that moves the entire amount to the target account.
 
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G

Grace

Thanks a lot.

Steve said:
This is a long-standing problem. Microsoft hasn't fixed it in the last
few updates, so I don't expect them to ever fix it (sigh).

Here's a workaround:
1. Create a cash account with the name "Payments Passthrough", or some
other name that makes sense to you.
2. When you receive payment for an invoice, have the payment go into
your "Payments Passthrough" account.
3. Open "Payments Passthrough" and create a transfer transaction to move
the money to the correct account.
4. Use <Shift>+click in the "C" column to mark both transactions as
reconciled. Your balance in "Payment Passthrough" should now be zero.

This is a pain, but now your bank downloads will match up with the
transactions.

One side benefit: You can now make a single deposit of multiple payments
and still have download matching work. Use the technique above, but
receive payment on multiple invoices. Go to the bank and deposit all the
checks in one transaction. Create a single transaction in "Payment
Passthrough" that moves the entire amount to the target account.
 

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