You might have situations where you’ve received a single check from a customer for payment on multiple open invoices in Accounts Receivable. Previously, each payment made on an invoice would show as its own movement within the register. Now, you can record multiple payments and these will show as a single deposit in your asset account’s register. Batching these will help simplify your reconciliation process as your deposit amount will match the amount on your bank statement.
Creating Your Receivables:
You’ll need to create your receivables in order to post payments received. For more information about the process of creating your receivable, please reference this article for step-by-step instructions.
Recording a Single Payment to Receive Multiple Invoices:
You will need to enter the amount that you are receiving for each invoice. If you have more than one invoice for a customer, when you enter the amount and date on your first invoice, you will see that the same date will auto-fill on any other open invoices for that customer. So, you will now only need to enter the amount received on any other open invoices. The example below shows two invoices that were created for the same customer. Each invoice has the amount that is being received and the same date is listed on each invoice as well.
When you click the Receive Payment button, this will record the payment amount in the Amount Received column and update the Balance to reflect only what is outstanding. If the amount received pays the invoice in full, then you’ll see that the invoice moves to the History section on the page.
Payment on Multiple Invoices Appears in the Register:
Moving over to the transaction recorded in your register, you’ll notice that the deposit amount is the total amount received on both invoices. So, the two amounts of $1,000 and $750 will reflect as a lump deposit of $1,750 received on 4/23/18.
As a side note, if you do not want to collapse these deposits into a single transaction, you will need to record each amount separately. So, you will need to enter the amount and date on one invoice, then click Receive Payment, then go back into the Receivables module and record the second amount and date, then click Receive Payment.
If you have any questions, please feel free to reach out to our Customer Success team at firstname.lastname@example.org, or by phone at 888-274-1316.