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Subject Author Date
Customer Overpayments Sharif 02-20-2007
Posted by Sharif on February 20, 2007, 9:22 pm
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 Hello,

Here is a example scenario I recently came across. If I had a invoice
with a total of say $500.00 and the customer decides to pay me
$550.00, how can I enter that in without applying the extra $50.00 as
credit? If the customer gives the extra $50.00 as a bonus or just adds
it on for whatever reason - how can I add that in without it being a
credit?


Posted by R. C. White on February 21, 2007, 9:06 am
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 Hi, Sharif.

That's a good kind of problem to have. ;<)

The extra $50 clearly is income and you should account for it as such. The
exact mechanics depend on your own bookkeeping system. You might create an
extra invoice for the $50, adding it to the customer's balance before the
payment. Or you can just make a Split transaction for the receipt, applying
$500 to the balance and $50 to your income category.

RC
--
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Vista Ultimate x64)

> Hello,
>
> Here is a example scenario I recently came across. If I had a invoice
> with a total of say $500.00 and the customer decides to pay me
> $550.00, how can I enter that in without applying the extra $50.00 as
> credit? If the customer gives the extra $50.00 as a bonus or just adds
> it on for whatever reason - how can I add that in without it being a
> credit?


Posted by Sharif on February 21, 2007, 9:47 pm
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> Hi, Sharif.
>
> That's a good kind of problem to have. ;<)
>
> The extra $50 clearly is income and you should account for it as such. The
> exact mechanics depend on your own bookkeeping system. You might create an
> extra invoice for the $50, adding it to the customer's balance before the
> payment. Or you can just make a Split transaction for the receipt, applying
> $500 to the balance and $50 to your income category.
>

So how can I split a transaction/payment?


Posted by Fred Smith on February 21, 2007, 10:55 pm
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Click on the Split button, or use Ctrl-S when entering the transaction.

--
Regards,
Fred


>> Hi, Sharif.
>>
>> That's a good kind of problem to have. ;<)
>>
>> The extra $50 clearly is income and you should account for it as such. The
>> exact mechanics depend on your own bookkeeping system. You might create an
>> extra invoice for the $50, adding it to the customer's balance before the
>> payment. Or you can just make a Split transaction for the receipt, applying
>> $500 to the balance and $50 to your income category.
>>
>
> So how can I split a transaction/payment?
>



Posted by Sharif on February 22, 2007, 3:59 pm
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> Click on the Split button, or use Ctrl-S when entering the transaction.
>
> --
> Regards,
> Fred

Maybe I am doing this wrong. I opened up the invoice form for the
payment. Clicked on receive payment, and put in the whole amount in
the check... here is the scenario:

- Invoice balance is: $243.90
- Payment total is $244.00

Even though it is just 10 cents, I need to be able to record that. I
don't want that extra 10 cents to be customer credit, I want to be
marked as income - bonus income if anything and I can't seem to do
that without that 10 cents being applied as credit. I want to solve
this problem now because it could be a much bigger amount in the
future.


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