How Do You Adjust off an Overpayment from a Customer? - Accrual
Adjusting off a Small Over payment
In cash receipts enter the customer number and click add customer check. Enter the check number and check amount. Highlight the invoice being paid and click Inv edit (Fig 5). In the Amt paid field, enter the entire payment amount including the overpayment which will be more than the "Amt due". Enter the overpayment as a negative adjustment and use the G/L # recommended by your accountant. Click Ok. This will clear the invoice from the open items.
Note: Use G/L #305 Return & Allowance, G/L # 306 Cash Short/Over or G/L #510 Misc. Income. You could also clear the overpayment as a Non-A/R (see option in Standard Cash Receipt Options). If you choose to use this option, the Amt paid on the invoice would be equal to the Amt due.
Large Over Payments
(Two Methods)
1. Highlight the invoice being paid and click Inv edit. In the Amt paid field, enter the entire payment amount including the overpayment which will be more than the Amt due. No adjustment would be made at this time. Click Ok.
2. Click the Paid box to the left of the invoice number, or highlight the invoice and click Inv full. The overpaid amount will remain in the Bal to dist field. Click On acct and click Ok. This creates a separate line with no invoice or order number and a negative amount in the Amt due field.