Removing a customer credit without a refund


J

Jimmy

One of my customers overpaid me by $2.50. I had quoted them a price and then
billed them for actual time an materials. I'm not going to issue a refund
nor do I want to carry this forward as a credit but I can't figure out how
to get rid of it! I tried to create a credit memo/refund for -$2.50 but QB
said it couldn't be negative. Any thoughts??

Kevin
 
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N

N Owen

Do an invoice for misc debit to the account-do you have a misc income
acct? Or, if invoice was in current month, just ad line for misc
overpayment.
 
L

L

Jimmy said:
One of my customers overpaid me by $2.50. I had quoted them a price and
then
billed them for actual time an materials. I'm not going to issue a refund
nor do I want to carry this forward as a credit but I can't figure out how
to get rid of it! I tried to create a credit memo/refund for -$2.50 but
QB
said it couldn't be negative. Any thoughts??
Consider this: A 'negative' credit memo is an invoice! You are increasing
the amount your customer owes in order to 'balance' an overpayment.

Issue an in-house invoice for the $2.50. USE APPROPRIATE MEMO'S both in the
body of the invoice AND at the foot of the invoice.
"But", you say, that will increase the INCOME for the company!" Yes, it
will, and it should. You KEPT the money.
 
J

Jimmy

L said:
Consider this: A 'negative' credit memo is an invoice! You are increasing
the amount your customer owes in order to 'balance' an overpayment.

Issue an in-house invoice for the $2.50. USE APPROPRIATE MEMO'S both in the
body of the invoice AND at the foot of the invoice.
"But", you say, that will increase the INCOME for the company!" Yes, it
will, and it should. You KEPT the money.
It sounds so simple when you say it....

Thanks
 
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L

L

Jimmy said:
It sounds so simple when you say it....

Thanks
Forgot to mention. You have to apply the overpayment credit to the invoice
you created.

Also, if you choose, you can forgo the invoice and enter the charge directly
into the customer register. Again, MEMO adequately. Be sure to use the same
customer:job as the credit (use the register for the job the payment was
made too).

Here is what I did.
I created a list item of type other charge and named it overpayment. The tax
rate is set to NON for non-taxable.I used the account Other Income. You may
choose to point to any income account that makes sense to you and your
accountant.
I use this list item to add charges to offset small overages (I have
customers who round to nearest dollar when they pay). Charges may be added
either by creating an invoice to the customer:job OR by adding statement
charges to the register.

Whether you invoice or use a statement charge, you must apply the credit in
the customer account to the new invoice/charge you created.
 

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