How to allocate a credit to a customer?

clean_gujjuscleaning
clean_gujjuscleaning Member Posts: 13 Reckoner Reckoner
in Reckon One

Hi Everyone,

I have invoiced one of my client for $880(Inc.GST). However, They Paid me $968 (Inc.GST) in my Bank Account. Now I have to allocate that figures to My Reckon one file. So, I have allocated that $880 to the invoiced transaction. but the difference of $88 - What should I do with it? I was thinking of allocating that $88 credit to that customer and keep that amount into my bank account. So, when the client will reconcile his account they will find that they have paid me $88 more than they suppose to and ask me for a refund. So at that time I can issue them a refund.

So basically, Is it a good plan? if Yes, How should I allocate a credit to customer?

Answers

  • Rav
    Rav Administrator, Reckon Staff Posts: 14,205 Reckon Community Manager Community Manager

    Hi @clean_gujjuscleaning

    It largely depends on the situation, will you be invoicing this customer again in the near future?

    The additional amount paid ($88) will be retained as a credit for that customer if you allocated the full amount of the payment. It can then be applied on the next invoice you create for them.

    The next time you create an invoice a prompt will appear to let you know there is an outstanding credit for the customer and it can be applied to that invoice.

  • Reeta
    Reeta Reckon Staff Posts: 379 Reckon Staff Reckon Staff

    Hi @clean_gujjuscleaning ,

    We have a helpful article that guides you through allocating credits to customers and creating adjustments. Just follow the detailed instructions, and you'll be able to do it with ease.

    https://help.reckon.com/article/x6xa9wfck4-x6xa9wfck4-customer-adjustment-notes

    I hope this helps.

    Regards,

    Reeta

    Reeta.png
  • clean_gujjuscleaning
    clean_gujjuscleaning Member Posts: 13 Reckoner Reckoner

    All Sorted @Reeta & @Rav. Thank You.

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