Can't get my head round this one!!

[Louise]

Ok it goes like this...
...Our collection agency has managed to collect £100.00 from a bad debtor, they have sent us a cheque for £50.00 and an invoice for £50.00 which they have obviously taken off the collected amount, but how on earth do I post this...I just can't get my head round it. Mind you I am abit tired and fed up with my job and its nearly dinner time and I'm sick of being cold and I want to go home!! Any help with the posting problem will be greatly appreciated though.

[fifs11]

hi

All you need to do is post £100 custiomer receipt to your debtor account to clear the invoice, then post a £50 bank payment to recovery costs, or whatever, in the P&L. when you come to reconciling the bank you will need to pick up both postings which will give you the sum of £50 which is actually paid into the bank.

'fraid i cant help with the cold, tiredness or hunger....

Cheers

[Louise]

Oh thanks for that.....I feel better already.