Accounts Receivable - How to work with wire transfers and payment allocations

Contents

Wire transfer and payment allocation key info

Wire transfers and Payment allocations uses:

  • Allocate wire transfer payments to orders and pay outstanding invoices: Allocate received payments from uploaded bank statements or manually created wire transfers to orders and invoices.

  • Accurate overview of received payments from debtors for due invoices. Reducing the need of an external accounting software.

  • Creating wire transfers allows logging when payments were received and if it was received before the invoice due date for outstanding invoices, allowing for an accurate Accounts Receivable see Account statements (Back office).

  • Allocate wire transfers payments to debtors to give an accurate overview of debtors that pay within their credit days. Overview of good and bad debtors.

  • Upload bank statement files: Batch upload payments from bank statements quickly and easily. Saving time in manually creating many received payments. See How to upload payments from bank file statements.

  • Add wire transfer payments: Manually create wire transfer payments for allocation to invoices and orders.

  • Due Invoices report: Generate a PDF Due Invoices statement report per debtor, showing an overview of all invoices due and paid, with each individual invoice attached. See Customer Account Statement Reports (Administration) for changing the report and adding new reports to this area.

 

For detailed back office page information for wire transfers and payment allocations see: Account statements (Back office) and Payments (Back office).

How-to pages for wire transfers and payment allocations

 

How to manually add a wire transfer payment

Manually adding wire transfers can be done quickly without a bank statement. Once added the wire transfer amount can be allocated to outstanding invoices and orders.

How to upload wire transfer payments from bank file statements

Upload bank file statements to FBO One to bulk add received wire transfer payments for allocation to orders and invoices.

Account statements: How to allocate wire transfer payments to a debtor's invoices in the Accounts statements page

Allocate wire transfer payments to a debtor’s invoices, giving an overview of all the due and paid invoices in the Account statement (Back office) page

Payments: How to allocate wire transfer payments to invoices and orders in the Payments (Back office) page

Allocate wire transfer payments directly to invoices and orders in the Payments (Back office) page.

Pre-payments: How to allocate wire transfer payments as a pre-payment to front office orders

Unallocated wire transfer payments can be used to pre-pay an outstanding order before it has been invoiced.

How to manage mistakes in wire transfers payments

Wire transfer payments can be edited, amended or ignored to fix any mistakes.

How to send reminder emails for invoices due to debtors

Send reminder emails for outstanding invoices due to the debtor; with due invoices summary and each individual invoice attached.

How to activate and change an Administration's invoice cut-off date for Account statements

Before using the Account statements page, an Administration must be activated by setting a cut-off invoice date. This is to ensure that the due amounts shown for each debtor are relevant from a recent date. The cut off date can be changed if required in the Administration.

Wire transfer and payment allocation flowchart