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Over Payment Recording

  • 19 May 2023
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Hi Team,

 

I would like to know how to record the over payments for utility bills ?

For an example suppose my electricity payable account’s balance is $100. But the payment has done $110. How can we record this transaction ?

 

Thanks & Regards,

Yashodha

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Best answer by Harshita 19 May 2023, 13:03

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Hello @yashodhalakshini85 ,

the following steps might be helpful to you:

To record an overpayment for a utility bill in Acumatica, you can follow these steps:

1. Create a Payment: Navigate to the Checks & Payments (AP302000) screen in Acumatica.

2. Select Vendor and Document Details: In the payment screen, select the vendor for the utility bill and enter the necessary details such as the payment date, payment method, and reference number.

3. Enter Payment Amount: In the Payment Details → Summary/Header area section, enter the overpayment amount. In this example, enter $110 as the payment amount.

4. Apply the Payment: In the Apply to Documents section, Acumatica will automatically display the open documents (utility bills) for the selected vendor. In this case, you will see the electricity payable account balance of $100.

5. Apply the Overpayment: To record the overpayment, manually apply the payment to the electricity payable document by selecting it and entering the amount of $100 in the "Amount Paid" column.

6. Record Credit Adj: To reflect the remaining overpayment of $10, you can create a credit Adj for the vendor. Navigate to the Bills and Adjustments (AP301000) screen. Enter the amount of $10 as a negative value.

7. Apply Credit Adj: Apply the credit Adj to the utility bill in the Apply to Documents section of the credit Adj screen. Enter the amount of $10 in the "Amount Applied" column.

8. Save and Process: Save the payment and credit memo records. Acumatica will automatically adjust the vendor balance by applying the payment and credit adj to the utility bill, resulting in an overpayment of $10.

 

Regards.

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