AR: How to record a payment received to offset 2 Debtor’s Outstanding

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Question : How can I record in the system when I received a payment which paid for both Debtor A and Debtor B outstanding invoices?


Scenario :

Debtor A issue a cheque RM 800 to pay for Debtor A outstanding invoice RM 300 and Debtor B outstanding invoice RM 500.


Answer (1) :

Create two A/R Payment with two different debtors.

For bank reconciliation will show two transactions, you can use bank slip to combine two A/R payment into one transaction in bank reconciliation.

Please refer below link to create bank slip:

http://www.autocountsoft.com/products/ac_accounting/helpfile/bank_slip.htm


Answer (2) :

2.1) Create one A/R Payment RM 800 under Debtor A and do knock off for invoice RM 300, unapplied amount still have RM 500.

Payment1.jpg


2.2) Create A/R Credit Note RM 500 under Debtor B to knock off outstanding invoice, debit account may choose contra account and tick ‘Is Credit Journal’.


Payment2.jpg


2.3) Create A/R Debit Note under Debtor A to contra the amount of RM 500, credit account may choose contra account and tick ‘Is Debit Journal’.


Payment3.jpg


2.4) Edit the A/R receive payment for Debtor A and knock off the balance unapplied amount with the AR Debit Note.


Payment4.jpg


By : Ju Lee 180622, Lay Swan 180711, P180719



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