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Heather Smith
Superpower : the art of explanation
Superpower : the art of explanation
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Dealing with partial payments in Xero

What has happened is $ 2,000 has perhaps been deposited into the bank account. But the actual invoice in is $ 10,000. So what I need to do is apply that $ 2,000 to the $10,000 invoice and reduce that invoice into an outstanding amount of $ 8,000.

To do this, what I need to do is locate the partial payment, select the find and match option, select the matching transaction and then select the reconcile button. I'm here in Xero in the reconciliation area and on the left-hand side; I've received $ 2,000 from Jakaranda Maple Systems.

So what I would do is go and have a look at the invoice that I can apply that against. So I come over to the right-hand side here and click on find and match. Now I have the options down here to search by name, reference number or search by amount.

Now, it's pointless in searching by amount because this is a partial payment. But I could type in here, 'Jakaranda' if I needed to, and that would come out with one option there. You can see that I have an invoice for $ 10, 000. I come over to the left-hand side and select the invoice and I'm applying the $ 2,000 to the invoice.

Across here it says split; and if I click on split, the $2,000 has been applied to the $10,000. And I recognised the split has been applied by clicking the green button. And that has come up here; matching up there has been reconciled. And you'll notice down here its recognising that $ 8,000 is remaining outstanding against Jakaranda Maple System's invoice. And I'm going to come up here and click OK to reconcile and then you have it.

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Heather Smith is a Xero expert a Xero Advisor and a Xero Cloud Service Provider. She’s the author of seven business books including Xero for Dummies series of books, and Learn Small Business start-Up in 7 days. She’s a Chartered Certified Accountant, Certified Practicing Accountant, Commerce Graduate, Registered BAS Agent, and Accredited Trainer. She’s one of only two people in Queensland who’s a member of the Xero Expert Network, and is on the Xero Global Advisory Council.
Through one on one online session or classroom training Heather Smith can empower you how to use Xero in your business.
You can contact her here: http://www.heathersmithsmallbusiness.com/ for 

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Nine reasons why you should create and give away an e-Books and sixty free e-books 

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Congratulations @TimboReid on your new book The Marketing Effect https://www.youtube.com/watch?v=l-0nHustBdM

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My #1 tip  for small business marketing this year is short sharp focused interesting newsletters because statistically newsletters have the highest return on engagement over any other form of publication and once you’ve published them – you can repurpose the content across your other social media channels.

I use mailchimp, and if you’re new to mailchimp – I suggest  getting an expert to help you set it up, so you simply need to add content and send a newsletter campaign to your community.

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Xero Multi-Currency Training https://www.youtube.com/watch?v=rBEwLBaqF4E
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