Record supplier overpayment
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There may be occasions when you have overpaid a supplier, perhaps because a discount was missed. In such circumstances, you will need to record the overpayment. Once recorded, you then need to decide what to do with the overpayment - receive a refund from the supplier, or use the overpayment towards another purchase.
Record the overpayment
- Go to Purchases > Purchase invoices. Select the appropriate invoice from the list.
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Select Add Payment.
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Adjust the Amount to reflect the actual payment amount and select Save. The purchase will be marked as overpaid.
Record the supplier has returned the money
Once you have recorded the overpayment, you then need to record a further payment from the supplier back to you.
With the same payment receipt still open (as described in the previous section):
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Select Add Payment. The Amount will show as a negative .
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Select the date when it was paid back to you and select Save.
Make sure that you amend the method of payment as necessary to correctly reflect the payment in your bank account.
The purchase invoice will be marked as paid and the overpayment recorded successfully in your bank account.
Use the overpayment for another purchase
Once you have recorded the overpayment, you then need to record the amount being used for another purchase.
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Go to Purchases > Purchase invoices. Select the appropriate invoice from the list.
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From Payments > More actions, select Apply Credit.
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Select the overpayment from the list and select Apply. The original purchase is now marked as paid.