Help! I dont understand why after historic payment paid, the money doesn't show in the bank account. Help!

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I dont understand why after historic payment paid, the money doesn't show in the bank account. Help! I entered a historic invoice and when we received it, I use historic payment to receive it. But I can not find this historic payment in the bank account, so the bank account is now negetive. Help!! 

Parents
  • 0

    The history mode is only for what was showing as of a particular date - for example the last day of a fiscal yearend. We do this so that we can continue making new transactions such as paying an invoice that was outstanding on last day of fiscal yearend. Let's say Dec31/13 is your date to enter historical information. So you have entered a historic invoice which is dated Dec31/13 or prior and showing as outstanding on Dec31/13. Let's say the date you received the payment for this invoice would be Jan10/14. You go into the receivable module, select the receipt icon, enter the customer name, the date you received or deposited the payment, and the bottom half should show the invoice that you entered thru history mode. Just click on the last column in same row as invoice and the amount should appear automatically. Then click on Post and now it will show up in the bank account.

    So the history mode is only for entering what the balance was at a certain date - not for processing transactions.

    Does this help any?

Reply
  • 0

    The history mode is only for what was showing as of a particular date - for example the last day of a fiscal yearend. We do this so that we can continue making new transactions such as paying an invoice that was outstanding on last day of fiscal yearend. Let's say Dec31/13 is your date to enter historical information. So you have entered a historic invoice which is dated Dec31/13 or prior and showing as outstanding on Dec31/13. Let's say the date you received the payment for this invoice would be Jan10/14. You go into the receivable module, select the receipt icon, enter the customer name, the date you received or deposited the payment, and the bottom half should show the invoice that you entered thru history mode. Just click on the last column in same row as invoice and the amount should appear automatically. Then click on Post and now it will show up in the bank account.

    So the history mode is only for entering what the balance was at a certain date - not for processing transactions.

    Does this help any?

Children
  • 0 in reply to Smith and Co

    Yes. Exactly.  But...but I have already received the histroic payment in the historic part, the button just under  historic invoice. I clicked the button payment then receive it. The resultat is the historic invoice gone but it does not show in the bank account. What should I do? Will I re-enter the historic invoice again and  then do the right thing as you said?

    Thank you very much!

  • 0 in reply to SylvieSu
    verified answer

    hmmm- I'm not sure I am following you.

    Let's use below as an example.

    Say you are using Dec31/13 as the date to enter all historical amounts.

    Your bank account is 5000.00 as of Dec31/13  and that is the amount you entered in historical mode at Dec31/13.

    And your G/L Account Nbr 1200 Account Receivable at Dec31/13 is 1525.75 which you have entered using date of Dec31/13.

    Now in historical mode you need to create a customer name called ABC Company as there is one invoice outstanding as of Dec31/13 for 525.25. You enter inv nbr 123 date of Nov25/13 and the amount of 525.25.

    Then the next customer is Joe's Towing as he has one invoice outstanding on Dec31/13 for 1000.50. So you create that customer name and enter inv nbr 8254-1 dated Dec20/13 and the amount of 1000.50. Now your subledgers (all the different customer accounts) now totals to 1525.75 which is the same total as your G/L Acct Nbr 1200 Acct Rec. Now you are done with the History Mode for Accounts Receivable and can start entering thru the receivable module for transactions dated after Dec31/13.

    Now you have a payment come in fro Joes Towing on Jan10/13 for 1000.50. You go into the Receivables module, select the receipt icon and type in Joe's Towing, date will be Jan10./13 and select the invoice that says 8254-1, tab over to the last column which will automatically show amount of 1000.50 and then post it.

    Now Joe's Towing will show a nil balance and the bank account will show 6000.50.

    You would only use the historical payment if for example you had an invoice for 1000.00 and only 500.00 was paid on it so which left 500.00 still owing as of Dec31/13. Then you would enter both the invoice for 1000.00 and the payment for 500.00 in the historical modes.

    If you have more questions let me know.

  • 0 in reply to Smith and Co

    Oh, OK. Got it now. I have no more question. Thank you very much Madame Smithco!