Allocate Account Transactions for your Receivable accounts

Allocating account transactions for your Receivable accounts.

Introduction

Account Not Set to Auto Allocate

Allocate Account Transactions

Manually allocate partial amounts

View and Export Unallocated Account or Invoice Transactions

Tips

Already Allocated Transactions / Unallocate


Introduction

The Allocate Accounts Transactions process allows you to auto-allocate or manually allocate payments and credit notes that you have received against invoices for your Receivable accounts.

Receivable Accounts will only appear in the Allocate account transactions list if:

AND:

    • There is an unallocated Payment that has been received for that Receivable account.

Note: The Auto Allocate flag is set per Receivable account; it is not a system wide setting.

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Account Not Set to Auto Allocate

You can check if a Receivable account is set to Auto allocate transactions:

  • Go to Receivables > Receivable accounts.
  • Select the Receivable account you wish to check.
  • Go to the Options tab, then the Account options section.

If the Auto allocate transactions field is not checked, then auto allocation of cash receipts to invoices will not be done automatically, and you can then allocate transactions manually.

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Allocate Account Transactions

You need to allocate transactions only for Receivable Accounts that do not have the flag Auto Allocate Transactions ticked in the Options screen.

Other Receivable Accounts will have transactions allocated automatically.

To manually allocate transactions:

  • Go to Receivables > Allocate account transactions.
  • Select the Receivable account that you wish to process.

On the Outstanding transactions tab, the list of transactions for that Receivable account will be displayed.

    • Outstanding transactions of invoices and credit notes will be displayed in the Tranasctions section on the left.
    • Payments that have been received will be displayed in the Payments section on the right.

Note: There must be a payment to allocate for the Receivable account. This will be in the right section.

  • Click the required transaction/s in the Transactions section on the left to highlight them.
  • Click the matching cash receipt/s in the Payments section on the right to highlight them.

There may be multiple invoices and / or multiple payments to be selected to allocate together.

Once you have selected the transactions and cash:

  • Click Allocate. (Top right of screen.)

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Manually allocate partial amounts

Where a cash amount is paying part of an invoice, you can still allocate the cash to the invoice, even though the balance will not be zero.

  • Select the Receivable Account as above.
  • Click the transactions that you wish to allocate together.
  • Go to the Allocate amounts box in the bottom right of the screen.

Amounts are shown for these values:

    • Allocate: This shows the total of items selected from the Transactions section.
    • To allocate. This shows the total of cash you have selected to be allocated from the Payments section.
    • Remaining. This shows the difference between the Allocate amount and the To Allocate amount.

As you select items, the Remaining amount is updated. 

When you have selected the items you wish to allocate together:

  • Click Manual Allocate.

This will allocate the highlighted amounts.

 

 

Note: Use Manually allocate when the payment from the client is paying only part of an invoice and might be disputing part of the invoice.

You can partially allocate cash received to invoices in the case where a partial payment has been made.

Then the invoice showing in the Transactions section will show the allocated and remaining amounts.

If the amount being paid is highlighted, the amount will display in the Manually Amount field. Then select the invoice that the amount is being allocated to, and click Manually allocate.

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View and Export Unallocated Account or Invoice Transactions

Where you want to check unallocated transactions for an Account, you can view and export details of these transactions from the Unallocated Accounts screen. Please refer to View and Export Unallocated Account or Invoice Transactions to read about this.

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Tips


 Allocating a Credit Note

You can allocate a Credit Note to an Invoice when they both appear in the Transactions section of the screen, and where the combined balance equals zero. You do not have to move the Credit Note to the Payments section on the right.

Moving credits to the Payments section

If you have highlighted multiple transactions from the Transactions section on the left, you can move any credit items in that selection to the Payments section by clicking Move selected credits to payments grid. This is located in the Quick select options buttons on the left at the foot of the screen.

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Already Allocated Transactions / Unallocate

You can view and un-allocate transactions that have already been allocated if something has been allocated incorrectly.

In the Allocate Account Transactions screen, the second tab is Already allocated transactions.

  • Click the Already allocated transactions tab to view all transactions that have been previously allocated for this Receivable account.

If you wish to un-allocate something that has previously been allocated incorrectly:

  • Locate your item.
  • Click the Unallocate icon which is at the right column of the transaction line.

The unallocated item will transfer to the other column where you can now re-allocate it to the correct item, or leave it for a new transaction to be received.

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Last updated: 12 July 2022