Exact Globe+

Collective payments

Menu path

Cash flow ➔ Entries ➔ Cash flow

Introduction

The Collective payment functionality can be used to match a lump sum receipt to multiple invoices. This includes the possibility to specify which part of the total amount is paid to each individual invoice. For example, Debtor A has four sales invoices; three with an amount of EUR 1,000 each, and one with an amount of EUR 1,200. The debtor pays EUR 3,000 divided over four sales invoices as follows:

• EUR 500 on the 1^st invoice,
• EUR 1,000 on the 2^nd invoice,
• EUR 1,000 on the 3^rd invoice, and
• EUR 500 on the 4^th invoice.

The collective payment allows you to determine the amount that is allocated for each invoice. This can be a full (100%) allocation or just a partial allocation.

What version are you using?

The information in this document is applicable to product update 411 and higher. If you have versions lower than this, certain features explained here will not be applicable.

How do I process collective payments?

1. In the Cash flow overview screen, select an existing entry that has not been matched yet.
2. Click Edit.
3. If the entry has not been allocated, click Search in the Matching & Processing section of the Entry screen to display the Allocate screen.
4. In the Allocate screen, define the criteria in the Allocation and Invoice search sections.
5. Select a transaction from the Cash / bank section and an invoice or more from the Invoices section.
6. Click Collective payment to display the Collective payment screen.
7. Define the amount(s) in the Paid column so that the value at Differences at the bottom of the screen equals to zero.
8. Define the type of transaction and general ledger account for the write-off entry.
9. Click Process to process the collective payment.

Alternatively, if the entry has been allocated earlier, replace steps 3 to 6 above with the following steps:

3. In the Entry screen, click Match to invoices under the Matching & Processing section to display the Matching screen.
4. In the Matching screen, select a transaction (payment or receipt) from the Cash / bank section and an invoice or more from the Invoices section.
5. Click Match/Process. The Process screen will be displayed if there is a difference in the amount between the payment/receipt selected under the Cash / bank section and the invoice(s) selected under the Invoices section.
6. In the Process screen, click Collective payment.

Note:

• The Collective payment button is displayed only when the Deduction management check box in the Bank settings is cleared. For more information, see Deduction management.
• Collective payment will not be available in the Process screen if you have only selected a transaction under the Cash / bank section in the Matching screen without selecting any invoice.

 Columns

Click this to display the Define columns screen. Here, you can choose to display up to seven additional columns in the Collective payment screen.

Related documents

• Entering payments and receipts
• Deduction management
• Match to invoices
• Searching for invoices