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Multiple credit / debit accounting codes in one transaction

In many situations the transaction amount in my bank account does not match with the invoiced amount (some transaction fees deducted etc).

In these situations it would be really nice if KashFlow would ask what to do with the remaining value still due. Options could be:
Leave it alone (Still due)
Associate a Purchase Code (with full or partial amount)

Or if the amount in the bank account is more than what is needed to pay the invoice there could be an option to use the leftover to pay another invoice. I saw some request for that feature as well in here.

In general there should be a way to have more than one credit and debit accounts involved in a single transaction.

Right now I'm going to implement a work around for this issue by adding a new bank account called "Virtual Account" and add there the transactions for the missing parts of the invoice payments. For example if I write an invoice of 100 EUR and the customer pays it through a payment service and I receive 97.65 EUR to my bank account I will add 2.35 into the Virtual Account and use that to pay the rest of the invoice and then also make a purchase for the transaction fee. The balance of the Virtual Account should stay at 0.
  • Mika Mustalahti
  • Jan 10 2017
  • Acknowledged
  • Jan 10, 2017

    Admin Response

    Hi Mika, As I am aware you can assign multiple payments to multiple records in KashFlow and also edit amounts. This means that any amounts outstanding can be edited to match the record. Can you contact if you require further information on this, alternatively provide some more context so that we can look into this further?
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  • KashFlow Product Manager commented
    January 10, 2017 09:25

    Hi Mika,

    Let me run this past our development team and get some more advice on this for you. I will point out though that you do not need to create a new invoice manually each time, you can do this within the bank area by using the 'Create' option just next to Assign, which will create the invoice for you from the transaction you are currently managing.



  • Mika Mustalahti commented
    January 10, 2017 09:25

    Let me describe the workflow in detail. Let's assume I have imported my bank transactions from csv and there is a deposit of 99.50 EUR. That deposit is for a payment made directly in my webstore so I don't have an invoice for it in KashFlow.

    0. Edit the 99.50 money in transaction to have a correct VAT %
    1. Click invoices
    2. Click create new invoice
    3. Several clicks in the create new invoice view
    4. Click Bank
    5. Click Add/View
    6. Calculate in your head or external tool the amount you need to add to make the invoice paid. In this example it is 100 - 99.50 = 0.50.
    7. Add new transaction for 0.50 EUR money in.
    7.1 Edit the new transaction to have the correct VAT % (other vice the VAT calculations are screwd)
    8. Add new transaction for 0.50 EUR money out.
    9. Click the checkboxes for 99.50 EUR and 0.50 EUR money in transactions
    10. Click Assign to Invoice
    11. Select the correct invoice (which can be difficulty if you have multiple invoices open with the same amount because there is no invoice dates visible in the select view)
    12. Click Assign Payments
    13. Click the checkbox for the 0.50 EUR money out
    14. Click Assign to Purchase
    15. Create a new purchase for the transaction

    The current way is terribly time consuming and requires a lot of manual work. And before you even can get to the work you need to figure out what the heck are you going to do handle the situation. Will you just change the amount of your invoice and do not care that your accounts are not showing the real truth. Or will you find this way of adding and removing small amounts that have not really ever been in your bank account and do not worry that your bank transaction list will get flooded with these virtual transactions.

    KashFlow could make this very common situation a lot easier for the user. Let's now assume we have imported the same 99.50 EUR with csv and start the process in the ideal world.

    1. Click the checkbox for the 99.50 EUR money in (we have just imported so we are in the bank view already)
    2. Click Assign to Invoice
    3. Click Create new Invoice (opens a dialog window to create a new invoice)
    4. Several clicks in the create invoice view
    5. Assign the Payment
    6. KashFlow notices that the assigned payment is 0.50 short and ask to create a new virtual purchase for it (virtual because it will not create transactions into your bank transactions)
    7. Click add new virtual purchase (opens a dialog window)
    8. Create the purchase (If I had assigned several invoices then this step would be repeated.)
    9. Click done.

    It could be so much easier. And the user would not need to think his way through the problem of having 99.50 in the bank statement but 100 in the invoice. KashFlow offers a solution for it automatically. How nice would that be.

    And just to mention. This very same situation comes with each of the invoices created in KashFlow where I use the online payment with Stripe. Stripe takes their fee before sending the money to my bank account. That means, if I had an invoice of 500 EUR Stripe will send only 495 EUR to my bank account. But KashFlow has already added a transaction of 500 EUR to my bank transactions and I need to manually remove it before starting that 17 step process for the invoice.