WebThe $1,000 refund is the amount of overcharged that the vendor has made a mistake by putting the wrong price in the invoice resulting in the total amount of purchased goods increase from its correct cost of $18,000 to $19,000. The refund money is transferred directly from the vendor to the company’s bank account. Webyou notice an overpayment on the account the accounting period in which the receipt was entered is still open, and you want to increase the invoice/bill amount to absorb the overpayment. This requires you to unallocate any cash and then process a negative adjustment to increase the invoice amount. Then you can fully allocate the payment.
Customer overpayments and double payments - MYOB
WebMay 12, 2024 · How do I account for overpayment in MYOB? To create a debit for the overpaid amount For more information, see Settling supplier debits. When recording the … WebIs MYOB online invoicing software? ^^Available with MYOB Business. †Applications for invoice payments are subject to approval. Fees apply when clients pay their invoices with invoice payments 1.8% + 0.25c per transaction (including GST). … change amadextous magazine button for smith
How do I handle overpayments when customers pay more than they owe
WebOct 15, 2015 · Recording Overpayment from Customers in MYOB Ken Leong 810 subscribers Subscribe 9.5K views 7 years ago When customer pays more than the billed amount, you may record the … WebJun 2, 2024 · What can you do in MYOB if a customer pays too much? There are a number of ways you can easily handle the overpaid amount: apply it to another unpaid invoice or bill. create a credit or debit and process a refund. create a credit or debit and apply it to a future invoice or bill. write it off (customer overpayments only). WebTo process an overpayment From the Purchases menu, choose Create bill payment. Select the supplier in the Supplier field and choose the Bank account. Enter the total amount of the payment (including the overpayment) in the Amount paid field. hardee\u0027s scholarship program