CONTRA PAYMENTS - SEPT 2016

CONTRA PAYMENTS - SEPT 2016

This is the process on how to do contra payments in Xero and Pinnacle.

We need to determine amounts owing of both parties.  Once agreed, we will process in Xero and Pinnacle.  The party which has the most owing will have remaining amount to pay.

We should have the details in a Zendesk ticket



We can confirm what we owe in Xero:

ACCOUNTS - PURCHASES - search for the customer name - tick current invoices - total will show up at the top



To confirm what they owe in Pinnacle:

Go to Accounting - Payments - search for the customer - highlight current invoices - total will show up at the bottom



We need to match owing in Pinnacle to owing in Xero and make sure that after the process is complete, we will only have the difference amount in the Awaiting Payment screen in Xero.

We will then adjust a bill to match details.

In Xero, select a bill with enough amount and copy it.
 

Edit the copied invoice with the difference.



Then edit the original invoice.  To compute, subtract the difference from the original bill amount.



Go back to Awaiting Payment tab.  Tick on the current invoices, leaving the one we created for the difference as that's for us to pay manually.  Make sure that the total amount on top matches the amount owing by the customer.  Then click on Batch Payment.



Payment Date should be today's date.  Bank Account should be 11215.  Details should be CONTRA DEAL.


Then go to Sales - Invoices - and select the oldest invoice with enough money on it.



Scroll down to the bottom to receive payment.



Go to Pinnacle Payments Screen and search for the customer.  Click on RECEIVE PAYMENT.  Select Bank Transfer for Payment type and enter the contra deal amount.  Then allocate to invoices covered.

Go back to Xero Awaiting Payment tab then add a Planned Date for payment on the invoice we created which was for the difference.