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Marciasca
Level 1

Double payment for invoice

Hello, 

 

A customer paid a £2000 invoice twice.

 

The payment has been returned to them but how is this processed on quickbooks?

 

Thanks, 

 

M

2 REPLIES 2
paul72
Level 6

Double payment for invoice

from QB Help...

 

Refund a customer's overpayment or credit

You can record a refund to your customer using Cheque or Expense if:

  • They want to redeem their open credits.
  • They made a prepayment for an order but cancelled it before receiving the goods or services.
  • They want you to reimburse an accidental overpayment.

Using Cheque or Expense to record the refund reduces your bank's balance and offsets the customer's open credit, overpayment, or prepayment.

Step 1: Record the refund for your customer

  1. Select the + New button.
  2. Select Cheque or Expense.
  3. Select the customer you want to refund from the Payee ▼ drop-down.
  4. From the Payment account ▼ drop-down, select the bank account where you deposited the overpayment too.
  5. On the first line of the Category column, select an Accounts Receivable.
  6. Enter how much you want to refund in the Amount field.
  7. Fill out the other fields as you see fit, then select Save and close.

Step 2: Link the refund to the customer's credit or overpayment

  1. Select the + New button.
  2. Select Receive payments.
  3. Select the same customer you used for the cheque or expense.
  4. Fill out the other fields as you see fit.
  5. Under the Outstanding Transaction section, select the checkbox for the Expense or Cheque you created.
  6. Make sure the payment is equal to the open balance, then select Save and close.
Ashleigh1
QuickBooks Team

Double payment for invoice

Hi Marciasca,

 

The answer would depend on how the amount was received, was it received in two amounts or one large amount?

 

If it was received as two separate payments you would allocate one of the payments to your invoice. The second amount would be allocated to the debtors account, select New+ icon > deposit > in the add funds to this deposit enter the name of the customer you received the amount from in the received from column > select the debtors/accounts receivable in the account column > enter the d ta in the remaining fields as required.

Then when returning the over-payment to the customer, select New+ > select Expense in the Payee field enter the name of the customer > in the category section select the debtors/accounts receivable account > enter the data in the remaining fields as required.

You will have to link the above together, New+ > select receive payment > enter the name of the customer in the customer field, the expense and deposit will appear on the right hand side > select add on both > save and close.

 

If you have received the amount in one large payment, receive payment on the invoice and in the amount received field over wright the amount appearing to that of which you actually received > save and close, a credit will be applied to the customers account.

When you send the amount back to the customer you will have to create an expense from the debtors as explained above, select New+ > select Expense in the Payee field enter the name of the customer > in the category section select the debtors/accounts receivable account > enter the data in the remaining fields as required.

You will then have to link the credit and the expense together by following the steps noted above by receiving payment, New+ > select receive payment > enter the name of the customer in the customer field, the expense and credit will appear on the right hand side > select add on both > save and close.

 

( amended post - for clarification)