Processing an Overpayment to a Supplier.

There are rare occasions when a supplier may be double paid or overpaid inadvertently. When this happens the relevant supplier payment needs to be recorded correctly so that the supplier transactions are reflected correctly.

Overpayment of a Supplier.

In this example the Supplier is owed $14,000.00 but the payment is for $14,500.00, the supplier has been overpaid $500.00.

1. From the Bank Reconciliation Screen, identify the payment and click the Match tab.
2. Select the checkbox(s) of invoices to be paid.

3. Select New Transaction.
4. Click Spend Money.
5. Change drop down to Overpayment.
6. Ensure that the Contact Name is correct.
7. Add details in the Reference and Description by way of explanation.
8. Do not add a job number or cost centre.
9. Click save Transaction.

10. Click Reconcile or OK to complete.
11. Overpayment will now show against supplier to be allocated to future invoice or refunded.

Receiving a Refund of a Credit or Overpayment from a Supplier.

If a supplier has been overpaid and there will be no opportunity to apply the overpayment or credit to future invoices, a refund can be received.

1. Locate and Click on Overpayment or Credit
2. Populate the Amount, Date and Bank.
3. Click Add Refund.

Ensure the amount, date and bank match what has been received into the actual bank account to allow for correct reconciliation.