Customer Overpayments

AlisonAlison Member Posts: 4
edited April 30 in Accounts Hosted
I have a payment from a client back in march 2017 with an overpayment. The payment allowed me to save this amount to be used at a later date. The customer has finally taken up the overpayment in a payment made in August but the system will not let me pick up the overpayment in this financial year and keeps wanting me to change last FY payment allocation.
how can I use this overpayment in this FY?

Comments

  • JeanetteJeanette Member Posts: 9
    edited September 2017
    You will need to do a j/e.   Apply overpayment to Accounts Receivable and under Billable Name enter your customer.  Debit Bank Account with Overpayment amount as well.   This should put Customer in Credit and then input new invoice and apply payment from Bank Account,.    Hope this makes sense.  Notation should be bring to account overpayment from  ???

  • AlisonAlison Member Posts: 4
    edited September 2017
    Hi Jeanette, Thanks for the reply. I did what you suggested above and it allowed me to finally see the overpayment from the payment in March, but only allowed me to allocate to the journal i created. I was hoping to be able to allocate it to the invoice the customer applied the overpayment to at their end. What should i do from here? Thanks
  • JeanetteJeanette Member Posts: 9
    edited September 2017
    The only way to show the credit would be to print out a Statement for the Customer and send to him.  Pretty sure balance will show a credit.
    Jeanette
  • Shirley IngleShirley Ingle Accredited Partner Posts: 191
    edited September 2017

    Hi Alison  I would have handled the entry this way.

    You have an unapplied credit for the customer. The customer pays in August for a lesser amount. The payment made was $X + credit = invoiced amount.

    What you do is if using Reckon Accounts or Hosted is to go to Receive Payments, put in the amount the customer paid you, then highlight (don't tick) the invoice the customer is paying and click credits (bottom right). Tick the credit amount and  click Done, this will take you back to the Receive Payments screen where you will now see a credit column inserted. So then the payment from the customer plus the credit you took up will equal the total amount of the invoice the customer was wanting to pay.

  • SherylSheryl Member Posts: 36
    edited April 30
    I have tried this Shirley but I still don't show a credit available to use.
  • Shirley IngleShirley Ingle Accredited Partner Posts: 191
    edited March 6
    Hi Sheryl  What program are you using? If it is RAH or Desktop, then the overpayment may have been used during the year against a part payment of an invoice and not specifically the correct invoice and amount. You may have to check the payments and allocation of each invoice to find the error.
  • Acctd4Acctd4 Accredited Partner Posts: 992 ✭✭✭
    edited March 11

    Hi Sheryl

     

    As Shirley suggested, if you check the customer’s payment allocations, you should be able to find it & “untick” its current allocation to make it available again.

    (TIP: It’s a good idea to utilise transaction Memos to make relevant notes in, as you can then “Find” a transaction via a “Description” filter search)

     

     

    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]

    www.accounted4bs.com

     


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Partner (AP) Bookkeeper * Regd BAS Agent (No: 92314 015) *

    ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://www.accounted4bs.com/

Sign In or Register to comment.