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DileepaNirmal
June 30, 2022
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Customer overpayments

  • June 30, 2022
  • 2 replies
  • 0 views

Greetings!

 

One of my customers paid an extra amount of GBP by mistake. I have only one open invoice to match the received payment. And I need to transfer the excess amount to his bank account later. Can anyone help me to record this scenario in QuickBooks.?

 

I appreciate any help you can provide.

Best answer by paul72

HI @DileepaNirmal

 

(1) Record the Payment Received:

...go to Receive Payment > enter the amount received & tick the invoice(s) you are clearing.

At the bottom of the screen will be the total of the invoices plus a line that says... This transaction will create an additional credit in the amount of £xxx

(2)  Record the Refund:

...go to Create Cheque - enter the repayment from Accounts Receivable with VAT Code NoVAT

(3)  Link the Refund & the Credit:

... go to Receive Payment again - you should now have a Refund & Credit to cancel against each other - select both & enter a £nil transaction.

 

Hope this helps.

2 replies

S
ShiellaGraceA
June 30, 2022

Hello, @DileepaNirmal.

 

I'll share the steps on how you can record customer overpayment. You can either apply the credit to an invoice, refund the customer for the overpayment, or record overpayment as a tip. Let me guide you how to do it.

 

To apply it to an invoice:

 

  1. Go to +New.
  2. Select Receive payment.
  3. Pick the customer's name, then enter the credit and the invoice.
  4. Select another pending invoice and enter the overpayment amount in the Payment column.
  5. Click Save and new or Save and close.

For details on the other options, check out this article: Handle customer credit or overpayment in QuickBooks Online.

 

I'm also adding this link in case you need help in reconciling your account. It has steps to guide you along: Reconcile an account in QuickBooks Online.

 

Please know that you're always welcome to reply to this thread if you have follow-up questions or concerns with overpayments. I'm here for you. Take care.

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DileepaNirmalAuthor
June 30, 2022

Your answer is weird. I mentioned that there were no more pending invoices for that customer. Have only one invoice. You like just copied an answer from a related post. Anyway, Thanks

paul72
paul72Answer
June 30, 2022

HI @DileepaNirmal

 

(1) Record the Payment Received:

...go to Receive Payment > enter the amount received & tick the invoice(s) you are clearing.

At the bottom of the screen will be the total of the invoices plus a line that says... This transaction will create an additional credit in the amount of £xxx

(2)  Record the Refund:

...go to Create Cheque - enter the repayment from Accounts Receivable with VAT Code NoVAT

(3)  Link the Refund & the Credit:

... go to Receive Payment again - you should now have a Refund & Credit to cancel against each other - select both & enter a £nil transaction.

 

Hope this helps.

    D
    DileepaNirmalAuthor
    July 1, 2022

    Thank you very much. And I'd like to know one more thing. When creating the what should I select as the category?

    Please find the attached screenshot;

    paul72
    paul72
    July 1, 2022

    Sorry @DileepaNirmal - for some reason I cant' see the screenshot.

     

    @DileepaNirmal wrote:

    When creating the what should I select as the category?

     

    Creating the Refund?

     

    This needs to go from the Accounts Receivable (Debtors) account/category - so that it's available as a credit in the Receive Payment screen for (3).

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