FrontAccounting forum — Bank Account Payment Entry

Re: Bank Account Payment Entry

2017-11-19T18:20:57Z

Awesome,
Thanks for your support.

Re: Bank Account Payment Entry

2017-11-19T17:23:40Z

You have merged what should have been 2 separate vouchers. One for the invoice of 995/- and another for expenses of 5/-. Since you issued only 1 cheque for payment of 1000/- you should have got a Pay Instrument (Draft, TT, etc) for 995 and the bank would have debited you 5/- for bank charges. Hence the vouchers should have been:

Purchase Invoice:
=============
Credit AP (Supplier) - 995
Debit COGS: 995

Payment Voucher:
=============
Credit Bank - 1000/-
Debit AP (Supplier) - 995/- (Payment Allocation)
Debit Bank Charges - 5/- (Payment Allocation)

Now the Supplier Payments Report should show 995/- only.

Re: Bank Account Payment Entry

2017-11-19T11:35:23Z

https://ibb.co/dPnxSm

in the image attachment above..
shouldn't the supplier balance be 995 instead of 1000?

Bank Account Payment Entry

2017-11-19T11:11:22Z

Hello,,,
i don't know if this is a bug but the problem i am facing is:

When we use Bank Account Payment Entry to send money to a supplier we add the following:
Debit- Accounts Payable: [supplier name] 995$
Debit- Interest & Bank Charges 5$

Credit- Checking Account 1000$
thats great.

now when we print the bank statement and/or the supplier balance, it shows that the supplier balance is 1000$ when it should be 995$ since the 5$ doesn't belong to the supplier but to the bank charges account.

Regards.