Clarification on writing off old overpayment in Reckon

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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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Fiona Smith

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Posted 1 year ago

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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

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That's exactly what I would do :)
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Linda Putland, Accredited Partner

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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!) 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
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Fiona Smith

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Many thanks Linda and Shaz. Appreciate your help. cheers