We had an invoice 400.94 and our customer paid 400.95 what is the best way to correct this in our system? Do we create a credit memo on the invoice or can we do a -.01 in the write off amount?
Solved
Customer Paid More on Invoice
Best answer by MuthumaliDhanushika27
Hello
If you need to reduce an amount a customer owes you for the particular invoice, I recommend you to use the Reverse and Apply to Memo action on the Invoices and Memos form that creates a credit memo based on the invoice. The memo is editable, so that you can specify the needed amount .
+5
You can do a Payment Refund Entry and apply it to the Payment Entry with over balance of .01, refer to screenshot below.
Overpayment of .01
Customer Refund Entry applied to overpayment
Hello,
Also, it is possible to enter a Debit Memo for the .01 and pull it into the payment application to clear it. Another option is to use the Reason Code for Credit Write-Off on the invoice line to do a direct write-off. Processing a Refund affects the cash account and would have to be written off at the time of bank reconciliation.
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