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I would really like to see this Bank Rule for Overpayments/Payment on Account implemented in the next update. It should be relativly simple to do and would save users lots of time.

We receive numerous payments on account each week from a large number of our clients. They are payments in advance of an annual invoice we raise to them. Not being able to set up a rule makes this an incredibly time-consuming task - particularly as recording an "overpayment" takes so many keyboard strokes and mouse clicks.

Furthermore, why it is called "overpayment"? Would prefer these transactions to be showing as a "Payment on account", because that's what they are, they are not overpayments.

Really miss this functionality that I had in Sage before we switched to Xero.

Cant understand why this isn't planned? Is it that hard to implement?

Yes please . Lots of clients would use this

Yes - please add this feature. It makes no sense to exclude it from rules. Lots of suppliers (in particular utilities) use payment plans where payments are made on account and allocated against invoices as they are raised. It's odd that Xero does not support this as Quickbooks does.

I would love to see this feature as many of the clients I work with make weekly/monthly payments on account which would then save a significant amount of time for processing.

This would cut out a lot of manual work for business that make regulay overpayments to build up credit...

The ability to add a bank rule to post an overpayment would be a very welcome addition for me, particularly with messy supplier accounts where payments don't always match invoices/statements.

This would be an excellent feature and be of huge help to our clients who pay fees via standing order payments on account each month.

@peter, how does the bank rule for overpayment work if you say it already exists?

Currently there are only three types of Bank Rules:

1. Spend money rules – post to GL accounts
2. Receive money rules – post to GL accounts
3. Transfer money rules – post to other bank accounts

Please create a rule functionality for “Contact Receipt/Payment Rules” whereby a payment/receipt is allocated via the usual rule functionality to a pre-identified rule set-up to contact accounts.

We have clients where the bank transactions never match the bill or invoice value for several reasons, (could be that multiple invoices/bills are paid, deposits, short payment etc, etc.), forcing a user to process and reconcile the bank via the extra steps using the overpayment function.

Find and match won't work either since the bank transaction amount must match/balance to invoices totalling the payment/receipt.

Considering that one of Xero's selling points is to simplify processing, this appears to be an oversight. Allocating payments/receipts to a contact's account via a bank rule will create real value as these types of transactions are more often the rule and not the exception.

Allocation of payments/receipts to bills/invoices can then be managed through the usual process on each contact’s account.

Hi Peter,
I've only just seen your comment.
Please can you let us know how this is done as I can only see how to do each one manually one at a time.
If you know a way for these to be done automatically it would save so much time!

I fully agree if these overpayments can be "automated"

I agree with Emma, Overpayments are a bug bear, something does need to be done as a priority.

This is critical to how we operate our seat fee accounts at the rowing club. I receive 100 regular payments each month that are held on account and then used to offset fees for entering rowing events. I have to manually add these to each account. Labour-intensive when a simple rule could fix this. Please consider as a standard feature, or advise an alternative way...

This would be extremely useful, why is it not a feature already?