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Overpayment Received

If you have receive too much money from a client (e.g. you were owed £2,300.00 but have received £3,000.00 by mistake) then…

Do the former where you expect to be able to reconcile the surplus in the next couple of weeks (e.g. because by then you will have issued a new invoice to the client for £700 or more), otherwise use the latter, in which case you may first need to set-up a “Client Overpayments” account. Starting from Durell’s Main Menu…

o Select the same client

o The “Type” dropdown is set to “Invoice”

o The “Date” is as close to the invoice as possible

o Enter the “Policy holder” and “Policy number” as “OVER PAYMENT”

o Click the “Add” button to add a line for the unpaid amount, in which you…

o Select the “Client Overpayments” nominal account (e.g. “CLOV”)

o Save the invoice with the “Save” icon on the toolbar

o Ensure the “Type” dropdown is set to “Credit”

o Everything else is similar to the overpayment INVOICE you just made, though you’ll see that the sums are negative

o Make sure you pay the credit from the SAME BANK ACCOUNT

o Reconcile as normal and don’t forget to put your real life cheque in the post (e.g. for the £700)

So overall your bank account should have received the surplus, then had it paid out again, while your Sales Nominal account first had a positive amount sent to it by the extra invoice, which was then negated by the credit.