This function can be used to allocate reference payments again, to make corrections and restatements, to remove existing reference payment allocations and to set reference payments as allocated elsewhere.
Edit reference payment view can be found from Payments > Bank statements and reference payments > Edit reference payment.
Edit reference payment button opens the Edit reference payment view if the active row has reference payments. If there are no reference payments, the user will get a notification.
- It is recommended to monitor the balance of the sales ledger and account 1700 (Trade debtors, accounts receivable) when editing the reference payments. Invoices are removed from the sales ledger when a payment date has been saved for them, i.e. their status has been set to Paid or Marked paid.
A payment has been allocated to an invoice when there is an OK note on the row in the Allocated column in the Edit reference payment view. By clicking this note, the user is taken to the invoice in question.
Allocating a reference payment
Procountor automatically allocates reference payments by searching for the oldest open invoice whose bank reference code matches that of the payment. For as long as the invoice is open (i.e. its status is not Paid or Marked paid), all payments made with its bank reference code will be allocated to the invoice.
Using Correct reference function
- If the payment has not been allocated, i.e. the row’s Allocated column is empty, the correct bank reference code is entered in the Correct reference field and the Save button is clicked.
- After this, Procountor searches for the right sales invoice with the same bank reference. If a sales invoice with the same bank reference is found, the status of the invoice changes to Paid.
- If an over payment (the amount of the original invoice is smaller than the reference payment) is allocated to the invoice, its status will be set to Partly paid and a negative sum of the over payment proportion will remain open for the invoice. You should compensate for this over payment as described in Special situations of sales invoice by marking another payment transaction which will compensate the over payment.
- When the sum of the payment transactions equals to the invoice’s sum, the invoice is set as Paid. After this, no more payments are allocated to the invoice. The over payment should be then subtracted from the next sales invoice sent to the same customer by adding a sum of the over payment with a Marked paid status to the invoice.
- Another option is to refund the customer with the over payment; this way other invoices don’t have to be altered.
If the invoice is in Unfinished state, the reference payment cannot be allocated to the invoice. After the invoice has been Approved it can be reallocated.
- Put an correct reference number to the field under Correct reference column (example 12345) and click the Save button in the top bar.
- The same method can be used if the invoice has been created after the reference payment has arrived to Procountor.
Correcting a reference payment
When the amount of the payment differs from the original invoice (small amounts) the Payment different column will show the amount of the difference. It is possible to correct this difference by inserting the differing amount to the Correction column.
- If the payment difference is greater than 0, i.e. too much has been paid, a positive figure is entered to the Correction field.
- An adjusting entry will be made to account 3000 (Sales) when the Save button is clicked. This will also create a transaction row in Special situations of the sales invoice.
- The row’s Payment date will be the reference payment date, Payment method Correction, Paid amount equal to the adjusted sum, and the Transaction description Reference payment correction. If the open sum on the invoice is 0 euros after the adjustment, the invoice status will be set to Marked paid.
- Correspondingly, if the reference payment is smaller than the original invoice sum, a negative figure of this difference is entered to the Correction field.
- An adjusting entry will be made to account 3000 (Sales) when the Save button is clicked. This will also create a transaction row in Special situations of the sales invoice.
- The row’s Payment date will be the reference payment date, Payment method Correction, Paid amount equal to the adjusted sum, and the Transaction description Reference payment correction. If the open sum on the invoice is 0 euros after the adjustment, the invoice status will be set to Marked paid.
- This kind of situation might occur for example when an invoice is paid with the reduction of cash discount.
Removing a allocation
It is possible to remove faulty reference payment allocations by clicking the Remove allocation button in Edit reference payment view.
1. Click the Remove allocation button in Edit reference payment view.
2. This action will open a window where the payment transactions and/or allocations can be removed.
- If both payment transaction and allocation are to be removed, choose the payment transaction (or several payment transactions to the same invoice) in the view.
- If only the allocation is to be removed, choose only the Remove allocation only from the reference payment (xx.xx.xxxx) with payment (xx,xx).
When only the Remove allocation only from the reference payment (xx.xx.xxxx) with payment (xx,xx) is chosen, Procountor will notify the user that only the allocation is removed with this function.
Reference payments can be modified only with financial years that are open.
Allocating elsewhere
It is possible to mark reference payments as Allocated elsewhere if for example there is no invoice for the payment.
By clicking Allocate elsewhere button in the Edit reference payment view, the payment is removed from the list of non-allocated reference payments.
- It should be noted that the Allocate elsewhere button does not make any entries. The correcting entries should then be done by hand with for example journal receipts.
If the Allocated elsewhere status is to be removed, Undo allocation elsewhere button can be used.
- The button is visible when an active row has the Allocated elsewhere status.