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.

İlgili Gönderiler	Cevaplar	Görünümler
Reconciliation problem "The journal entry reached an invalid state relative to its payment". accounting reconciliation payment	0 Kas 22	3387
Pos sales reconciliation problem accounting pos reconciliation payment	0 Mar 25	1183
How to handel Partial payment to multiple invoice without going one by one to each invoice. Çözüldü accounting reconciliation payment bank_statement	7 Nis 20	15895
Bank statement and Payment using Bank Journal odoo 10 accounting reconciliation payment bank_statement	1 Mar 20	5569
What is the effect of the 'Exchange Rate' in payment voucher? accounting reconciliation payment voucher	0 Mar 15	4919

Bu soru işaretlendi

Enjoying the discussion? Don't just read, join in!