Transactions > Transaction examples - Accounts Receivable and Payable > Entering accounts receivable overpayments

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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 November 4, 2020 by FCC AgExpert