Bank Reconciliation - Allocate Payments to a Supplier's account
I do not know if there is a way to do this if so it is not too simple. I would like to allocate a payment from the Bank to a Supplier but to not allocate it against any invoices. This would not be a new invoice but would sit on there account so it is easy to know what they owe a supplier. This idea would be similar to Sage "Payment on Account" which is very simple to do on Sage.
Cameron Barrett
shared this idea
Hi team, the way to do this in Xero would be to reconcile the payment as an overpayment or a prepayment. This would then be credit on a suppliers account that could be applied to a bill at a later date.
Best to connect with your adviser if you're unsure which transaction type you should record these as, however we have a bit more information on these here and here respectively. 😊
