Opening Balance

Question asked by Peter Oakes 10 years ago

When I come to explain a payment from the bank statement to an item that was an opening balance, why does it show post transaction and not allocate.

Surely the opening balance has already been posted and should not have to be done again. All I want to do is allocate the payment to the outstanding invoice.

Help please

Write reply7

7 Replies

Arrrr no, what you're seeing is correct. Thee term allocate will appear when the amount on the statement isn't exactly the same as the amount on the bill/invoice. If it's an exact match it says add transaction.

It changed a month or so ago.

PS snapshot not worked.

Best answer
10 years ago

Hi Peter

When inputting the opening balances, how exactly did you create the outstanding invoice balance? Did you journal it in or did you physically create an invoice?

10 years ago

I followed the help screens, which said create an nvoice

10 years ago

Which is correct.

So to confirm:

  1. You've created an invoice
  2. You've imported a bank statement
  3. You're trying to allocate the payment against the invoice
  4. It won't let you

?

10 years ago
  1. Yes
  2. Yes
  3. The options I usually see are "allocate" but for this transaction it says "add transaction"

If I choose this will it post the transaction twice?

10 years ago

Arrrr no, what you're seeing is correct. Thee term allocate will appear when the amount on the statement isn't exactly the same as the amount on the bill/invoice. If it's an exact match it says add transaction.

It changed a month or so ago.

PS snapshot not worked.

Best answer
10 years ago

Great.

Thanks for you help

10 years ago

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