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Clarification on writing off old overpayment in Reckon

Fiona SmithFiona Smith Member Posts: 4
edited June 30 in Accounts Hosted
Hi, I've got an available credit of .05c showing for a customer on A/R Ageing Summary from March 2018 as an invoice was overpaid. As this was last financial year and books have been closed for this period, what is the best way to clear this credit? I know I need to do a journal to Debit the amount from Customer but what do I process credit to? Thanks

Comments

  • Acctd4Acctd4 Accredited Partner Posts: 886 ✭✭
    edited September 2019
    Hi Fiona

    You really don't need to do a journal entry - For a mere 5c you can just edit the invoice to match the payment.  (Tax forms/lodgements report in whole dollars only!) 

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

  • Linda ABCLinda ABC Member Posts: 1,178 ✭✭
    edited June 30
    Following on from Shaz's suggestion - if you dont want to edit last years figures (which I probably but I am a bit weird like that!)...you could do an invoice in the current financial year for 5c and allocate it to an item for write off's or for a sales line...  then apply this to the credit.. cheers Linda
  • Fiona SmithFiona Smith Member Posts: 4
    edited March 2019
    Many thanks Linda and Shaz. Appreciate your help. cheers

  • MichelleMichelle Member Posts: 33
    edited March 2019
    That's exactly what I would do :)
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