Incoming payment linked to invoices not reconciling

[Former Member]

1 incoming payment of $900 dated 1.8.08 has been linked to 3 AR invoices (dated in July), in the incoming payment window.

The 3 invoices have been pauid in full (NO part payment where made).

When running the customer aging report dated 16.9.08, the incoming payment receipt of $900 appears, but the 3 invoices appear to have been reconciled.

Why could this be occuring? How can I reconcile the invoices against the payment correctly?

[Former Member · Accepted solution]

Thanks for feedback all - with further investigation it has been disovered that the invoices where created in July and where linked to a parent company ( consolidated invoice). The consolidation was removed 5th August and the payment was made under the child account on 19.8.

Therefore the incoming payment (made by cheue, which has been deposited) has been recorded under the child account.

The invoices are recorded under the original parent account.

How can these accounts be reconciled?

The version is 2005A, PL 29

[former_member583013 · Accepted solution]

Since the Invoices were originally created when the consolidation existed, the AR balance would be showing on the Parent. While these payments would be showing as a credit on the Child Accounts.

One of the ways woud be be to cancel the Deposit and then cancel the incoming Payment on the children and apply the incoming payment to the children.

Otherwise create a JE

Credit Parent for the Total of the 3 Invoices

Debit the 3 child BP's

Use CTRL+Tab on the JE Account Code field to select the BP instead of GL

Suda

[Former Member]

thanks

[K_Pauquet]

Hi Lisa,

in version 2007 you can do multiple BP reconciliations. So a problem like this would not arise.

In the lower version the transaction process for both parent & child must be looked at. You need to cancel the payment & then reverse the invoices with credit memos. The invoices should then be recreated under the former child & the payment be made based on the invoices. Once the invoices are fully paid by the payment, reconciliation is automatic & neither the payment nor the invoices should appear in the ageing report.

All the best,

kerstin

[former_member583013]

Lisa,

If you have selected the 3 invoiced and processed the incoming payment then should be reconciled.

If your version is 2005A, are you running the Aging Report from By Journal Postings Tab? If so, make sure Display Reconciled Transactions is UNCHECKED

Suda

[jitin_chawla]

Hi,

Please check for the Business Partner, for whom the Invoice were raised, the following :

1) Goto the Banking Module > Bank Reconciliation and Statements and Manage Previous Reconciliation

2) Enter the Business Partner and check the reconciliations.

When you highlight the row the details of the reconciliation are shown in bottom half of the window.

If you find the Invoices and the Payments, the same are reconciled.

However, there can be a chance that there is/are Credit Memo raised for the Invoices which are paid by that Incoming Payment and you need to Manually reconcile the transactions together,

Please confirm about the Credit Memos for the Invoices linked in that Payment.

Hope it helps.

Regards,

Jitin