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Bill Payment is greater than Bill amount

We have prepayment setup with a vendor so they deduct $1000 when the charges exceed this no.

So for eg. the total bill amt was $30649.56 and payment is $31000 then what entries needs to be done in QB?

1 Comment
QuickBooks Team

Re: Bill Payment is greater than Bill amount

No need for entries, mhussain.

 

You can leave the over payment as an additional credit. You'll just have to record the payment normally, then you can use the available credit on the future bills. 

 

Here's how to record the payment:

  1. Open the bill.
  2. Click Make Payment.
  3. Enter the exact amount you've paid in the Amount field.
  4. Click Save and close.

Check screenshot.

 

Don't hesitate to drop by anytime if you have other concerns. Have a great day! 

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