How Do I Apply An Overpayment to an Invoice?

How Do I Apply An Overpayment to an Invoice?

An overpayment may occur if you pay more than the balance of an invoice. The overpayment amount will be saved as credit with the Supplier, to be used to pay off another invoice. Note: Overpayments cannot be applied where you are using Taxable Payments for Contractors and the supplier does not provide an ABN.

To apply the overpayment to another invoice, select the supplier in the Supplier List and click on the [Apply Overpayment] button.

  1. 1. Change the date as necessary.
  2. 2. Click on the drop-down arrow next to the Invoice Selected box to display a list of the supplier’s invoices with outstanding balances. Select the required invoice.
  3. 3. The invoice details will display and the Credit to Apply will pre-fill with the amount of credit remaining or the ‘Balance Outstanding’ on the invoice. Edit the amount if necessary.
  4. 4. Click on the [Save] button.
  5. 5. If the credit is refunded to you, click on the [Refund] button rather than selecting an invoice
 

To transfer the receipt to Cashflow Manager:

  1. 1. Tick the Transfer to Cashflow Manager checkbox.
  2. 2. A field will appear to select the Cashflow Manager account for recording the payment.
  3. 3. Click on the [Continue] button.
  4. 4. Allocate the amount to the appropriate allocation column.
  5. 5. Click on the [Save] button.

Remove an Overpayment:

Overpayments can be removed from Invoices without the need to remove the payment that created the overpayment/credit.
To remove an overpayment;

Click on [Tools] at the top left hand corner
Click [Remove Overpayment].
Select the overpayment by clicking in the checkbox and click [Remove].

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