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Ray Carnes

--Ray Carnes--
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Beaumont, Verenigde Staten
--Ray Carnes--

Business Analyst - Custom Projects

https://www.linkedin.com/in/raycarnes

Ray Carnes
26-09-18 14:16

1. Create the Customer Invoice for $103.


2. Create the Customer Payment for $103 to close the Customer Invoice.


3. During Bank Reconcilation, you will see the Bank Statement line for the $100 deposit and Odoo will show you the $103 Invoice (in blue, because the matched payment is already in Odoo).



4. Click the blue $103 line representing the paid Invoice, since that is what you want to match with the actual $100 deposit.


You will see that Odoo notices there is a $3 difference and prompts you to specify an account to book the difference in.


5. Specify the account you want to use:



6. Click RECONCILE:


This will create the following Journal Entry for the difference:



Note:  If you'd like to monitor the difference between what you charge to your Customers and your Merchant charges you, and if your jurisdiction allows it (and you understand it, and your CFO/Controller signs off on it), you can book the charge your Customer pays as a contra-Expense and when the Bank deposit comes in you can empty that amount out and examine what is left.  This is an advanced treatment of these kind of transactions and may or may not work for you.


Code the Invoice like this (in this case we use the same Bank Fee account that the expense will come out of, but you can use a different one):


This is the corresponding Journal Entry:


Note that Bank Fees is being credited the $3.00.

Once the deposit is made and reconciled, the actual charge will be debited to this account, so after the transaction is completed the credit represents what you charged the customer and the debit represented what the merchant charged you.

You can group the Journal Items by Customer to see which Customers are paying what you get charged and which are paying more/less.


The alternative is to use a revenue account for the charge to Customers and an expense account for the charge from the Merchant.


Another Note:  You don't have to record the Payment in Odoo.  You can wait until you get the bank statement (Odoo can synch every 4 hours with supported banks) - then Odoo will (1) record the payment (2) match it with the Invoice (3) close the Invoice and (4) reconcile the deposit - all during the reconcile process.

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