SageForum for UK versions of Sage 50- Help and support.

Help I am a self taught sager and thought i could do everything i need to but... a customer overpaid an invoice in response i issued a credit note meanwhile i paid the overpayment into our account with the bank when the credit note was used by the customer i thought that the sage account and the actual account should now balance however it remains different i am tearing my hair out and my head hurts from thinking...please someone help - thanks

Why did you issue a credit note?

brucedenney wrote:Why did you issue a credit note?

I thought that was the right thing to do as the customer had overpaid and the payment had been banked i assumed that when the credit was used against further invoices things would balance out - obviously i've done the wrong thing - can it be corrected

The overpayment would stay on the account and they could use that at any time in future. The account would have a negative balance representing the fact you owed money to them rather than the norm where they owing money to you.

The error amount should therefore be the amount of the credit note.

To fix this you need to reverse the credit note by issuing an invoice. (If you sent the credit note to the customer then you also need to send the invoice as they are VAT transactions)

You didn't need to raise the credit note, you could have sent them a statement showing the negative (or reduced) balance on their account.