You may come across a situation where you need to reconcile multiple transactions against single transaction appearing on your bank statement. Say you received a single receipt from your customer against multiple invoices or you paid one check for multiple supplier invoices.
Using the Matching screen in Sage Financials you can easily reconcile multiple transactions using Split option.
In the below-mentioned example; we have 3 open sales invoices.
To proceed with bank reconciliation here we are importing bank statement in CSV file format.
After importing bank statement; on Matching screen we notice a Credit transaction from a customer.
Since this is a receipt from a customer; we will select Type – Customer Receipt.
This will load all unreconciled invoices under Outstanding Items table.
Then select the individual invoices. Here we have selected all 3 open sales invoices for this customer.
After selecting the required transactions click Split. This will open a window where we can insert the amount to be allocated to each transaction.
Note: When using the Split option, the maximum transactions to be allocated against a bank payment/receipt is 14.
Once the allocation is done; click Validate.
After validating the transaction; notice that Matching screen shows 3 customer receipt transactions matched to the single credit transaction with an appropriate allocated amount.
Now after completing the Matching; from Bank Takings select the statement/journal you just reconciled and click Post.
After posting; you can see all 3 sales invoices are marked as Paid.
Hope this helps!
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