Please help me with an Excel problem - details below....?

Question

If i have a payment of say £950 from a company and several different invoices that could match up to that payment, £100, £250, £100, £300, £500, £900, £400, £50, £100 and so on, is there any way on Excel or even a website that i can type in the different values and it will show me which ones add up to the total payment amount that I'm looking for?

I have used round numbers for the example.... my payments are not always that simple lol. They are normally, lets say, £746.78 with invoices such as £86.98, £55.44, £197,36..... and so on... sometimes hundreds of different invoices that could be paid.

Any help is much appreciated.

Answer 1

sorry, excel won't do this.  You need some program that will loop through every possible combination of figures and try and add them up to match a certain amount.  I don't know of any off the shelf program that would do this.  And depending on the # of invoices in the list, could take a lot of computing power to accomplish.  It would be easier to just call the company that sent the payment and ask them which invoices they want the payment applied to :-)

Answer 2

Aren't payments usually applied to the oldest invoice unless specified otherwise. This is, I assume, to be what usually happens, so that there is no need to send out reminder notices and final notices as often, as accounts have been finalised. It's what my workplace does when it makes payments, a statement is issued by the supplier and a cheque is forwarded to pay the invoice(s) amounts on it.