Bank Rules - Option for prepayments
There are often periodic top up payments for accounts (e.g. Tolls) and a periodic statement provided after the fact.
It would be useful to be able to set up a bank rule to apply these and reconcile the prepayments as the statements come in.
Mitch Hooper
shared this idea
Hey all, we really appreciate you joining in this conversation and adding your votes.
We've reviewed this idea, and now it's up to the wider community to get behind it.
You might like to share this idea with any colleagues that this could benefit, so they can also add their votes and comments to support it.
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Ken Yeadon
commented
I support this request. We routinely receive Payments via our webshop that relate to Prepayments in respect of Services to be delivered later, and in order to comply with the obligation to reflect these as a Current Liability to the Customer (rather than Revenue), need to record these as Prepayments (income in Advance), on which VAT is due. The data needed to automtically post these is all readily available from within the Bank Statement, so long as we enforce use of particular naming conventions for the Description fields and Reference field, but at present we cannot leverage this as the Bank Rules cannot post as a Prepayment. It would make sense is Prepayment, Overpayment, Direct Payment where all capable of being posted from a Bank Rule, not just an Expense/Invoice.
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Cassie Bone
commented
We need this, the amount of time spent reconciling these is astronomical.
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Mark Shaw
commented
This is vitally urgent for us as a practice, we have the same issue as Jonathan.
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Jonathan Tree
commented
I completely agree. We get hundreds of deposits paid from customers each month that always have the same criteria, and it is a productivity killer having to change each one of these in the bank reconciliation stage.