How to reconcile multiple accounts?

Question

Hi

I have customers with entries in multiple accounts of type 'Receivable'. When I try to reconcile those entries together, I am faced with this error:

/"Entries are not of the same account or already reconciled !"/

Also, consider the case when the customer issues an advance payment. When the invoice is generated afterwards, we might assign a different debater account than the account the payment was issued to. The invoice will remain 'Open' and cannot reconcile it with the payment!!!

Please

Jos De Graeve · Answer

Hi,

This is a failsafe mechanism, and in some countries it is actually illegal to reconcile between different customer/supplier accounts.

What you should do is create a miscelaneous journal entry to debit one account and credit the other.  The move lines resulting from this can be reconciled.

Regards,

Jos

Walid Baruni · Answer

Joe .. I am trying to comment on your answer, but I can't find a comment option!!

The case of having 2 different accounts to reconcile is very common, and solving this by creating a manual account move for each customer is impossible! Consider the common case when the customer issues an advance payment, but the invoice generated afterwards affects a different debitor account!

Eva Pinter · Answer

Hello Walid,

Most ERP system will not let you reconcile two customers with each other or unrelated supplier/customers.

For advance payment, you will need to have an account so that you will first book BANK/ADVANCE PAYMENTS. You will then book CUSTOMER/REVENUE   and ADVANCE PAYMENT/CUSTOMER. When you receive the payment, you will book BANK/CUSTOMER.

As you see, there is no reason to reconcile two customers. You will always only reconcile the "advance payment" or the "bank" with the customer.

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