Please tell me how I tag one lump sum payment showing in my merchant account against two separate customer sales invoices? The option seems to be there to paydown multiple invoices? Thank you.
Which merchant are you using for payment collections? Just trying to understand why there would be one payment linked to two clients. There are a couple of options, just want to check what the scenario is first to see if they are applicable.
I sold two separate items online to different buyers and both payments went into my personal PayPal account. I then transferred the payments to the business PayPal account as a lump sum. Now I have a payment showing in my PayPal merchant account which I need to separate and tag to the two individual invoices.
Here’s what I would do…
As the funds are coming from a personal source, I would find the deposit on your Business PayPal account (assuming you have the PayPal feed setup) and tag this as a transfer from the Directors Loan Account (If you are a LTD company) or Proprietor Drawings Account (If you are a sole-trader).
This will drop a corresponding debit on one of the above mentioned accounts (Directors Loan or Proprietor Drawings), enter two balancing transactions on that account and tag that as a payment received from each respective client.
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