Recording a payments for an invoice.

Hello All,

I would like to match a invoice payment with a bank deposit.

I Create and send the invoice.
When the invoice is paid I goto invoices and recieve the payment.
When I update my bank account the deposit appears.

I then try to match it to the "Recieved Payment" that already appears in my
account.
But I do not see the recieved payment in the selection for transactions I
can match too.

I then try to delete the inovice payment and manualy select the right
account (the customer account)
And then assign the payment to the catagory "Payment for Invoice". But I get
an error telling me I can not assign this transaction.

I then tried to delete the bank's downloaded transaction, recieve the
payment from the invoice section.
But the next time I update the banks transaction appears again, so now I
have two payments listed, one from the bank and one from the Invoice-recieve
payment.

How do you work with payments for invoices?

Thanks

Justin
Sun Sep 05 13:47:13 CDT 2004


==================================
SYMPTOMS
You cannot match download transactions to invoice payments in any one of the
products that is listed in the "Applies To" section of this article.

CAUSE
This issue occurs because Microsoft Money does not support matching
downloaded transactions to invoice payments.

WORKAROUND
To work around this issue, create a new cash account in your Microsoft Money
file to receive invoice payments. Transfer the funds to the appropriate
account, and then match the downloaded transactions to the fund transfer.

MORE INFORMATION
To match transactions as described in the "Workaround" section, you must
configure Money to manually accept downloaded transactions. To do this,
follow these steps:

Start Money.
Click Tools, and then click Options.
Click Online Services.

In the Match transactions within a () day range box, type 30.
Click to clear the Automatically accept all downloaded transactions from
banking statements check box.

Click OK.

The information in this article applies to:

Microsoft Money 2004 Small Business
Microsoft Money 2003 Deluxe and Business
Microsoft Money Deluxe & Business 2002

Last Reviewed: 2/11/2004 (1.0)
Keywords: kbprb KB832772
========================================
"Justin Thyme" <jit at aol dot com> wrote in message
news:etZYxW3kEHA.536@TK2MSFTNGP11.phx.gbl...
> Hello All,
>
> I would like to match a invoice payment with a bank deposit.
>
> I Create and send the invoice.
> When the invoice is paid I goto invoices and recieve the payment.
> When I update my bank account the deposit appears.
>
> I then try to match it to the "Recieved Payment" that already appears in
> my account.
> But I do not see the recieved payment in the selection for transactions I
> can match too.
>
> I then try to delete the inovice payment and manualy select the right
> account (the customer account)
> And then assign the payment to the catagory "Payment for Invoice". But I
> get an error telling me I can not assign this transaction.
>
> I then tried to delete the bank's downloaded transaction, recieve the
> payment from the invoice section.
> But the next time I update the banks transaction appears again, so now I
> have two payments listed, one from the bank and one from the
> Invoice-recieve payment.
>
> How do you work with payments for invoices?
>
> Thanks
>

louisjr
Mon Sep 27 19:51:40 CDT 2004

I also have a workaround which, although not a satisfactory method,
allows me to receive split payments. I sometimes receive multiple
payments on the same day and pay them in as a single payment. The
total amount is downloaded as a single transaction.

My workaround, is to post an adjustment equivalent to the total bank
payment, then I receive payments from the invoices.

This keeps my accounts correct but messes up the reports.

Has anybody heard whether Microsoft is going to fix this incredibly
annoying issue, because I am seriously thinking of switching to
Quicken. The only thing stopping me is the setup time and new learning
curve.

Does anyone know if Quicken has a Money 2004 conversion utility?

Scott
Tue Mar 22 16:49:03 CST 2005

Just discovering this limitation myself and I have to say I'm astounded that
such basic functionality for what must be a very common task is not
supported. It's even more incredible since apparently this was possible in
earlier versions.

"Justin Thyme" wrote:

> Hello All,
>
> I would like to match a invoice payment with a bank deposit.
>
> I Create and send the invoice.
> When the invoice is paid I goto invoices and recieve the payment.
> When I update my bank account the deposit appears.
>
> I then try to match it to the "Recieved Payment" that already appears in my
> account.
> But I do not see the recieved payment in the selection for transactions I
> can match too.
>
> I then try to delete the inovice payment and manualy select the right
> account (the customer account)
> And then assign the payment to the catagory "Payment for Invoice". But I get
> an error telling me I can not assign this transaction.
>
> I then tried to delete the bank's downloaded transaction, recieve the
> payment from the invoice section.
> But the next time I update the banks transaction appears again, so now I
> have two payments listed, one from the bank and one from the Invoice-recieve
> payment.
>
> How do you work with payments for invoices?
>
> Thanks
>
>
>