allocating and bank rec

Question asked by Shirley Wyatt 10 years ago

Hi, I've overthought this and now cannot come up with a solution!! A month ago we overpaid a purchase invoice, £1900 out of the bank, supplier invoice £700 This month we have a new invoice, same supplier £1000.00 and a refund payment into the bank for £200 On the bank download I have £1900 out, unreconciled. I can apply it to the two invoices, but then it says create another invoice to balance!!! How do I apply the bank credit of £200 to clear this mess?!

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2 Replies

Hi Shirley - when explaining the £1,900, allocate against the two invoices and, as a transaction, put the £200 so a code like "Other debtors" or "Prepayments". Put the £200 in to the same account, to cancel it.

Best answer
10 years ago

Thanks Paul, I overthought it and ended up REALLY confused!

10 years ago

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