Reconciling a sale with deductions taken from total amount with Bank feed

Question asked by Alistair Wood 10 years ago

How do I reconcile a situation like this? I sell a property at for example £100K and put in a sales invoice for £100K, however before the funds are deposited to my account, the lawyer takes off the amount for theirs and the estate agents fee. For sake of example £1K for each. I therefore have a Sales Invoice for £100K, only £98K shown as going into the company bank and two Purchase Invoices of £1K each. How do I best marry all these up with the bank account feed?

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13 Replies

Hi Alistair and Kevin,

We know this is an issue, we are working on it to make the changes appear instantly. You may have to wait up to an hour for the updated values on the dashboard when applying a credit note. If you are making changes to the system, like adding an invoice, then usually you can instantly see the updated amounts.

Lajos

Best answer
10 years ago

Create the necessary bills.

Create a bank account called contra.

Pay the £100k sale to the contra bank.

Pay the newly created bills from the contra bank.

When analysing the import, treat the £98k received as a transfer to contra.

10 years ago

...sorry, transfer from contra.

10 years ago

Think they're identical.

10 years ago

Did all this and seemed to have worked except for one thing, the bank accounts all show correct values, the supplier bills are shown as paid but although the amount seems to have been offset correctly the Large Unpaid figure in the Sales Panel on home screen appears to still be including the sale as if it is unpaid (even though elsewhere it appears to be) Any ideas?

10 years ago

That does seem to happen now and again.

Try pressing Ctrl F5 for a hard refresh and see if it works.

10 years ago

Unfortunately not, I had already tried logging out and back in too, can't think of much else to try. Basic question, I am right in thinking that large Sales number should only show unpaid invoices so I know what I am expecting to see is correct (if not actually correct if that makes sense)?

10 years ago

Correct.

The sales figure on the dashboard should match Sales > Unpaid

Does it?

10 years ago

No they don't match, the sales unpaid is correct, the Dashboard still seems to include the now paid invoice

10 years ago

It'll probably align itself at some point, it's happened before. Submit a ticket in the meantime just to be sure.

10 years ago

Ok thanks for your help Kevin, much appreciated as always.

10 years ago

Hi Alistair and Kevin,

We know this is an issue, we are working on it to make the changes appear instantly. You may have to wait up to an hour for the updated values on the dashboard when applying a credit note. If you are making changes to the system, like adding an invoice, then usually you can instantly see the updated amounts.

Lajos

Best answer
10 years ago

It has now resolved itself so not a big issue, just was worried I'd done it wrong.

10 years ago

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