This transaction is used for manually entering payments that are considered overpayments.
In most cases the Overpayment is created automatically when you enter an invoice payment that is larger than the outstanding amount.
If the payment relates to a supplier invoice, enter a Supplier Invoice Payment.
If the payment relates to the refund of a customer credit note, enter a Customer Refund.
The transaction can also be used for entering advances or deposits.
The payment should be entered as a Spend Money transaction. Navigate to the Banking tab and initiate the transaction from one of the following areas:
Proceed to complete the transaction as follows:
Click the Save button to complete the Overpayment.
You may wish to allocate the overpayment to a new or existing invoice at a later date. Please see Allocate Overpayment to Invoice.
Overpayments to Suppliers will save values to the Accounts Payable nominal account and therefore appear in the Aged Payables report and Supplier Statements.
Automatic overpayments created when an invoice is paid will result in two separate bank transactions being created. One line reflects the amount of the invoice/s allocated and one line represents that amount ot the overpayment.