Entering accounts receivable overpayments

1. Record the original cheque you received from your customer, as in the example below. Post the overpayment portion as an asset sale (A-) to Prepaid Items and click Record.

2. Open a new Transaction Entry window and create a receivable charge for the amount of the overpayment, as in the example below. Make sure your total is negative to indicate that it's a credit on this account. Post it as an asset sale (A-) to Prepaid Items (asset purchase isn't available in this function). This will clear the account to put it back to $0.00. Click Record.

Last updated on February 6, 2013 by FCC Management Software