Hello Please can anyone help!
I'm stuck and confused I need to enter supplier cheque to the purchase ledger (Supplyier Payment - Bank Current Accout). What I dont understand is how to allocate "one cheque less than the total amount of the two invoices?"
For example:
cheque total amout paid is 258
Invoice 1 xxxx 293
Invoice 2 xxxx 23
Obviously the cheque is not enough to even pay one invoice let alone two invoice.
Please any idea how to solve this? I really appreciate any help.
Thank you,
Maya
Is there a reason they are paying less? Are they awaiting credit notes or just being awkward? I would find out the reason first before allocating tbh. If there is no reason for it and they are just being awkward, I would allocate to the larger invoice, which will then show as part paid, with an amount outstanding.
From a credit control point of view it it far easier if it is allocated as they intend it to be allocated and if this is not obvious then put it on to the account as a payment on account and allocate once you know the reason they are paying less. Otherwise statements etc will not reflect the true position and if it ages much you will lose sight of what happened when the cheque was received. How do you know that it is to be allocated to those two invoices and not pay the smaller one in full and part of the larger one? THis is why I would not just allocate it to the larger one. As a long time credit manager I know the mess that misallocation can cause so you are always best to check or leave unallocated until you know the true intention of the payer.
I need to enter supplier cheque to the purchase ledger (Supplyier Payment - Bank Current Accout). What I dont understand is how to allocate "one cheque less than the total amount of the two invoices?"
For example:
cheque total amout paid is 258
Invoice 1 xxxx 293
Invoice 2 xxxx 23
Obviously the cheque is not enough to even pay one invoice let alone two invoice.
Please any idea how to solve this? I really appreciate any help.
Thank you,
Maya
