Overpayment of invoice
I have a customer that has paid an invoice for more than what was billed. In our old system we could overwrite the amount when we posted the payment and that we create a credit on their A/R. Is this an option when applying payments? Or do I need to create a j/e?
Just issue a credit memo for the over payment amount. Then apply the credit memo to future invoices or issue refund
When you apply the payment to the invoice only the amount of the invoice will be credited, leaving the overpayment as a general credit to A/R for that Customer. You can use Customer Refund to issue a refund check. Or leave it there to apply to a future invoice. (The credit memo solution suggested in the previous post won’t work, unless you’re trying to write-off and keep the overpayment as misc income in which case I still wouldn’t do that as a credit memo. In most states that’s actually illegal and you have to escheat that overpayment to the state after 2 years)
