Clarification on writing off old overpayment in Reckon
Fiona Smith_9962137
Member Posts: 4 ✭
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
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Comments
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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
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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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 Linda0
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Many thanks Linda and Shaz. Appreciate your help. cheers
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That's exactly what I would do0
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