Bank reconciliation

[Cam Ellison]

On 13/11/17 09:45 AM, David Goodenough wrote:
> Does no-one else have this problem?
>
> When we try to split the transaction in the imbalance account to allocate the payment to
> invoices we notice that it almost lets us add one split, but it does not automatically
> decrement the amount allocated to the imbalance account and so try to end up with an
> unbalanced split.  It will also only allow us to allocate one payment (after we have made
> the split balance), there is still an amount in the imbalance account which we can not
> allocate to another payment.
>
>
I have dealt with this by setting up a separate Asset account for 
receiving payments, similar to what you have. When a payment is 
received, it goes into this "Payment" account, and then when the bank 
deposit is made the appropriate amount is debited from the Payment 
account. This process adds a step between receipt of the cheque (thus 
acknowledging the invoice as paid) and depositing it. In effect, it is a 
buffer. It works whether the invoice is paid in full or only in part. No 
need to do any splits, which is where things seem to go south for you.

Cheers

Cam