Having problems understanding how I can allocate overpayment

Ian Towell
Ian Towell Member Posts: 12
edited January 2020 in Reckon Accounts (Desktop)
Ok, I have overpaid a supplier and it is showing a credit against the supplier. (ie Bills added up to $4,484.63 and I paid them $5,380.62 - thus they owe us $895.99) Which is shown as a [-$895.99] in the supplier information. Now, they have credited us for whatever reason, $1081.42 back into our bank account. (I know, now we owe him money). I have deposited this amount into the bank as received from the Supplier and recorded in the bank account. It is showing as a Deposit. But it is not crediting the supplier with the amount $1081.42. Can someone please explain how I can fix this to reflect the payment against the supplier.? Thanks

Comments

  • Charley
    Charley Member Posts: 541 ✭✭✭
    edited January 2020
    LOL, you have an issue. You're going to spend 895.99 just in time trying to sort it out. let me sleep on it and I'll get back to you in the morning with a perhaps solution. other than that use bills and tick the box for credit
  • Suzanne Lockwood
    Suzanne Lockwood Accredited Partner Posts: 71 Accredited Partner Accredited Partner
    edited September 2019

    Hi Ian,

    If you record the Deposit using the Supplier name in the Received From field and your Accounts Payable/Trade Creditors account in the From Account field this will create a contra debit entry which you will see in the Pay Bills screen like a Bill.  Allocate the original credit to this Deposit entry.

    If returning the balance of the Supplier payment you can use the Write Cheques function allocating the payment again to your Accounts Payable/Trade Creditors account.  This will create a contra credit entry and again in the Pay Bills screen you can allocate it to the remaining debit entry created by the Deposit transaction.

    Hope this all makes sense.

    Suzanne

  • Ian Towell
    Ian Towell Member Posts: 12
    edited October 2014
    Suzanne - worded like a dream - I can sleep tonight - haha - thanks again
  • Suzanne Lockwood
    Suzanne Lockwood Accredited Partner Posts: 71 Accredited Partner Accredited Partner
    edited September 2019

    Very welcome :)