Credit note issued for MORE than the original invoice amount

MM_7769277

A previous administrator issued a credit note in February 2015 for MORE than the invoice total (no idea why).

The customer now has excess credit in the amount of $1,400.

How do I now apply that excess credit to a new invoice, given that the original credit ("Adjustment Note") has already been applied to the original invoice in question?

Sara - Balancing Numbers

Hi MM, based on the information you've provided above, there will be a balance still available to use on the Credit Note. If there isn't, then the remainder has been applied to other invoices.  A credit note doesn't show $0.00 balance until all amounts have been applied against invoices, or otherwise removed (for example, a journal). 

MM_7769277

That's correct, there is a balance available to use on the Credit Note, however, given that it's linked to a Customer:Job, when I try to apply the remainder of the credit, RA tells me, "This customer has no open invoices". What should I do? The new invoice sits under the same Customer but a different Job.

Sara - Balancing Numbers

Hi MM, well it looks like things are a little bit more complex.  This is the kind of thing Reckon Partners specialise in helping with, and I'm confident I could help you resolve this very quickly.  Please feel free to contact me directly via [email protected], with your phone number, and we'll get this sorted for you promptly.  

gazza73

MM

You don't appear to have taken up the kind offer of Sara from A Balancing Act,  so try this meantime.

Whilst the credit note has been used to offset the original invoice,  the EXCESS amount is still sitting as an excess credit for allocation against any other (next) transaction.

Just raise the next invoice,  and.  Then go to Customer  -->  receive payments -->    and highlight the new (next) invoice and select APPLY credits to use some of that excess $14000 against that next (new) invoice.   Assuming you're using something like Reckon Accounts Premier or similar.,


Gary Pope
m: 0408994799 
An Accredited Partner- Consultant (VIC. Aust)
http://www.alchester.com.au/reckon-ac...
"Working with Accountants/Bookkeepers PPs/APs, as an
     independent IT Professional and retired FCPA Accountant"

MM_7769277

Can't do that Gary. The credit is sitting under a Customer:Job, so unless I create another invoice under that exact job, then I won't be able to use the extra credit.

What I might do is split the credit note into two parts, which will enable me to use the first half against the original invoice and leaving the remainder for use against any new invoice.

gazza73

MM

Ah yes - that would have to be the way to go.    Either split it as two customer:JOBS inside or raise two transactions (tagged/memo'd as part 1 part 2) for  allocating to customerXX:JOBXX  and say,  just customerXX.

Anyway the main point was to clarify that the entire credit can in fact be cross allocated to more than just the first offending invoice,  with the '$excess' amount used thereafter as you see fit.

Cheers


Gary