If you are a member of a Buying Group, you are probably receiving monthly statements of many invoices that you need to enter into your accounts. To help with this process, users can make use of the import options of Farmplan Business Cloud to bring in their statements and help speed up their data entry.
There are two ways in which statements can be imported in; either as a singular supplier invoice, or to import as bank entries against a bank account that has been specifically setup for the statement import.
Importing as bank entries
When importing a statement as bank entries, you will need to setup a bank account with an entry method of 'File Import'. When you then import the bank statement to this bank account, each statement line will be treated as an individual bank entry to code as required. Bank rules can be utilised to speed up and ensure consistency of allocation.
Before importing, the statement will need to be manipulated to amalgamate all the information included in the statement into a new 'Description' column to help when confirming the entries.
When the statement has been fully allocated, the balance of the bank account will be the balance of the statement. When you are posting the true payment to your buying group through your main bank account, you will post this as an interbank transfer to your buying group bank account to bring the balance of the account back to £0.00.
Importing as an invoice
Importing the statement as an invoice will mean 1 invoice is imported against the buying group (the supplier), and will be split over the number of lines as per the statement. Each line will need to be individually allocated as part of the import process (although some information could be added to the import file before importing to speed up the process, such as the category and enterprise).
When the payment is made to the buying group, this will be allocated as a supplier payment to the invoice via the banking screen.
Buying Group Import options
If you are a member of a different buying group to the ones below then please contact our support team for help on importing your statements.
Anglia Farmers