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kym1
Level 1
posted
‎June 23, 2019 11:28 AM
last updated ‎June 22, 2019 6:28 PM

How do I create a credit when matching a transaction where the customer has overpaid?

In banking, most deposits automatically match to the invoice and matching them is fairly easy. Occasionally the amounts don't match, usually because a customer has paid 2 invoices with 1 deposit so I click Find Match and then find the 2 invoices and select and they add up to the deposited amount.

However, sometimes, the customer overpays.

Is there a simple way when I choose "Add resolving transactions" to add the over payment as a customer credit? What is the category I should be choosing? Is it simply "Unapplied cash payment income"? or do I need to exit, create a credit note for the amount overpaid, re- enter Banking, select the transaction, re-select match transaction and then select both the invoice and the credit note?
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1 Comment 1
Anonymous
Not applicable
‎June 23, 2019 01:56 PM

How do I create a credit when matching a transaction where the customer has overpaid?

Hello, @kym1.

 

Thank you for posting in the Community. I'm here to help share some insights about matching your overpayment.

 

When matching the overpayment from your downloaded bank transaction, you can record this in QuickBooks by receiving the exact payment you received. 

 

Here's how to record the overpayment for your customer's invoice:

 

  1. In the upper-right corner, click the Create menu (+).
  2. Select Receive Payment.
  3. In the Receive Payment window, choose a customer.
  4. Under the Outstanding Transactions section, put a check mark on the invoice you want to pay.
  5. In the Amount received field, enter the exact amount you received from the customer (including the overpayment).

This will leave as a customer credit that you can apply to the next invoice.

 

When matching the transaction, you can select the payment by checking the box and click the Resolve Difference button. 

 

If you need to refund the customer for the open credit, you can refer to this article for the detailed steps: Record a customer refund.

 

That should do it. If you have other questions about matching overpayment, please let me know. I'm here to help.

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