{"id":7396,"date":"2021-05-18T02:08:32","date_gmt":"2021-05-18T02:08:32","guid":{"rendered":"http:\/\/3.26.62.22\/?post_type=ht_kb&p=7396"},"modified":"2021-05-18T02:08:35","modified_gmt":"2021-05-18T02:08:35","slug":"processing-an-overpayment-to-a-supplier","status":"publish","type":"ht_kb","link":"http:\/\/help.gjgardner.com\/nz\/hc\/accounting\/processing-an-overpayment-to-a-supplier\/","title":{"rendered":"Processing an Overpayment to a Supplier."},"content":{"rendered":"

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.<\/p>\n\n\n\n

Overpayment of a Supplier.<\/h2>\n\n\n\n

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.<\/p>\n\n\n\n

  1. From the Bank Reconciliation Screen, identify the payment and click the Match<\/strong> tab.<\/li>
  2. Select the checkbox(s) of invoices to be paid.<\/li><\/ol>\n\n\n\n
    \"\"<\/figure>\n\n\n\n
    1. Select New Transaction<\/strong>.<\/li>
    2. Click Spend Money<\/strong>.<\/li>
    3. Change drop down to Overpayment<\/strong>.<\/li>
    4. Ensure that the Contact Name<\/strong> is correct.<\/li>
    5. Add details in the Reference<\/strong> and Description<\/strong> by way of explanation.<\/li>
    6. Do not add a job number or cost centre.<\/li>
    7. Click save Transaction.<\/li><\/ol>\n\n\n\n
      \"\"<\/figure>\n\n\n\n
      1. Click Reconcile or OK to complete.<\/li>
      2. Overpayment will now show against supplier to be allocated to future invoice<\/a> or refunded.<\/li><\/ol>\n\n\n\n

        Receiving a Refund of a Credit or Overpayment from a Supplier.<\/h2>\n\n\n\n

        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.<\/p>\n\n\n\n

        1. Locate and Click on Overpayment<\/strong> or Credit<\/strong><\/li>
        2. Populate the Amount<\/strong>, Date<\/strong> and Bank<\/strong>.<\/li>
        3. Click Add Refund.<\/li><\/ol>\n\n\n\n

          Ensure the amount, date and bank match what has been received into the actual bank account to allow for correct reconciliation.<\/p>","protected":false},"excerpt":{"rendered":"

          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…<\/p>","protected":false},"author":16,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"ht-kb-category":[23],"ht-kb-tag":[156,159],"class_list":["post-7396","ht_kb","type-ht_kb","status-publish","format-standard","hentry","ht_kb_category-accounting","ht_kb_tag-overpayment","ht_kb_tag-refund"],"_links":{"self":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/ht-kb\/7396"}],"collection":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/ht-kb"}],"about":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/types\/ht_kb"}],"author":[{"embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/comments?post=7396"}],"version-history":[{"count":2,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/ht-kb\/7396\/revisions"}],"predecessor-version":[{"id":7401,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/ht-kb\/7396\/revisions\/7401"}],"wp:attachment":[{"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/media?parent=7396"}],"wp:term":[{"taxonomy":"ht_kb_category","embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/ht-kb-category?post=7396"},{"taxonomy":"ht_kb_tag","embeddable":true,"href":"https:\/\/help.gjgardner.com\/nz\/wp-json\/wp\/v2\/ht-kb-tag?post=7396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}