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Mark old invoices in bulk as paid by credit balance


#1

Hi,
How do I apply prepayments to multiple invoices,

I have thousands of invoices which need to be marked as paid from the credit balance. I am looking to clear in bulk rather than individually

Thanks,

Manju


#2

Hello @Manju

I’m afraid there isn’t a way to allocate credit to multiple invoices in one go at this time.

What you may wish to consider however is using a holding account which would act as an intermediate method.

For example:

  1. Bulk tag the invoices as paid from the holding bank account
  2. Refund the account credit on the same date, to the holding account.

Both entries would cancel each other out, but results in reduced credit on their account and invoices updated as paid.

I hope this helps, but please don’t hesitate to let us know if we can help further.


#3

Hi Mark,

Thank you for your email it sounds helpful, but how do I transfer the funds from credit balance to holding account.

Thanks,

Manju


#6

If you view the client in question, and select View >> All Payments, you can then do an advanced search for Unallocated payments - this represents all prepayments that haven’t yet been allocated to an invoice.

If you view the details of this, you can then refund the payment from there.

This demo shows how it would work for a supplier, but the process is the same for a client too:

Try and get the refund and new payment date as close as you can as these aren’t real transactions as such (they’re just there for the purpose of tagging). They will create new VAT entries if you’re VAT registered and on cash accounting, but if the dates are the same, the income and the refund will cancel each other out.


#7

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