Overpayment to a Supplier

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  • Updated 3 months ago
In Reckon One I have entered a supplier's bill correctly. However I accidently overpaid it. The system will not accept the payment amount that I made and I cannot find any way to enter the actual payment which is more than the amount owed. I was expecting the system to tell me that there would be a credit balance to offset against future bills. I checked the Community and though there is one answer, it is from 2016 and although the screenshots are very fuzzy and enlarging them makes it worse, the screenshots from 2016 are different from 2020 and I do not get any option to create a credit. 
Can anyone help me out here please?: We have just converted from MYOB to Reckon One and I am adjusting to the differences but it is when things are not straight forward that I am finding Reckon One does not have sufficient up-to-date information on how to put things right.
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Margaret Lockyear

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Posted 3 months ago

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Felicity Bleckly

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Enter the invoice. Pay it to some kind of suspense account or a temporary account. Then use make payment. Click add. Choose supplier. Find the supplier you overpaid. Enter the details coding to the correct expense account. Pay this to the same temporary account you used to pay the invoice. Then use a journal to transfer the full amount to the bank account you originally used. This will clear the temporary account and out the first figure you paid into your bank account. At the same time the entity raises a credit against the supplier. Next time yo have to pay this supplier apply the credit.
Hi Margaret

"make a payment" as usual in R1, call up the supplier you overpaid, date, note ect.  'untick' the box that says "use the transaction total" (unless this is coming from a feed or QIF import), once box is unticked you will be asked to enter an amount $.  Use the overpaid amount, apply part of this amount to the invoice you overpaid, when you go to save it will ask to you want to issue a credit for the overpaid amount.