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Want web hosting?
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Supplier has taken overpayment via DD -
Supplier has taken overpayment via DD -
Supplier has taken overpayment and owes us £38.28. Having updated the supplier account to show a negative balance for this amount, we are now having difficulty in reconciliing this now we have received the funds back into our account. How shold this be posted in Sage?
- brucedenney
- Site Admin
- Posts: 4628
- Joined: 28 Feb 2006, 09:56
- Sage Version: v28 UK/Europe/Africa
There are two ways to do this...
You can reverse the original payment using the supplier cheque return option in tools>write off refund return...
And then make a corrected payment.
This would work but doesn't really reflect the transactions that took place.
-----------------------------------------------
My preference is to do it manually.
Step 1
I would raise an invoice Tax Code T9 to the mis-postings account (checking the balance is zero on the account before I started) for £38.28 with a description of "Returned over payment".
Step 2
I raise a bank receipt for the £38.28 against the mis-postings account (and then check the balance has gone back to zero. this check I haven't entered different amounts by accident in the two transactions)
Step 3
Do a zero value supplier payment to match the invoice against the overpayment on the supplier account.
You can reverse the original payment using the supplier cheque return option in tools>write off refund return...
And then make a corrected payment.
This would work but doesn't really reflect the transactions that took place.
-----------------------------------------------
My preference is to do it manually.
Step 1
I would raise an invoice Tax Code T9 to the mis-postings account (checking the balance is zero on the account before I started) for £38.28 with a description of "Returned over payment".
Step 2
I raise a bank receipt for the £38.28 against the mis-postings account (and then check the balance has gone back to zero. this check I haven't entered different amounts by accident in the two transactions)
Step 3
Do a zero value supplier payment to match the invoice against the overpayment on the supplier account.
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