Can I convert a customer's credit amount on their account into a credit/adjustment note instead of a

I have a customer who has several accounts set up according to site location. During a recent project, several invoices were overpaid or paid twice. My customer and I agreed to clean them up at the end of the process - which is now.

The overpayments have been processed and sit as a credit amount on the account. My customer wants credit/adjustment notes raised for each. My question is how do I convert the credit balance into a credit note without "refunding" the money. (My customer wants to offset the credit notes rather than receive and have to reissue payments...)

I am using Accounts Hosted.

My brain is now dead and I would love to hear your ideas and suggestions

Thanks

V

Comments

Tanya Briggs

They already have a credit on their account (created by overpayments) so there is no further action on your part needed to create adjustment notes. The credit will remain until you issue new tax invoices and then can use the credits to offset the amount payable on the them. If you create adjustment notes, you will just increase their credit balance incorrectly. Maybe you can print a Customer Statement for them instead showing the credit balance?

Viv A

Thanks Tanya,
yes they do have a credit on their account, but they want me to send a physical credit note. The credit note is likely to be applied to another invoice set up on a different account. Maybe I just need to invoice out the overpayment and re-enter it as a credit note for them. . . I was just hoping there would be a simpler way as I have multiple accounts for them where this has happened.
Cheers
V

Tanya Briggs

Maybe use a suspense bank account to refund the overpayment to, which will reduce the balance of the account currently in credit to nil. the suspense bank account will then have an overdrawn balance. Receive customer payments for the accounts that you want to transfer the credits to. The suspense bank account should now have a balance of Nil, and the credits have been transferred to the other customer accounts. Print customer statements showing the credit balances.
Adjustment notes are used to reduce tax invoices issued, which by the sounds of your situation, were correct and shouldn't be changed.
Good luck, hope you find the solution you are looking for.
Regards
Tanya

Acctd4

V - If you open the customer's payment where they have overpaid, there is an option to "Print Credit Memo" for the overpayment amount, just above the "Customer Payment" title line.

This will print their overpayment amount as a credit. Unfortunately, you can't change/edit the description (it pre-prints as Outstanding Credit") but this should be what your customer is wanting ?

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

shazinoz2@bigpond.com

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