Bill amount <> check amount
warlord at MIT.EDU
Sun Apr 18 22:28:28 EDT 2004
Phil <sublime78ska at comcast.net> writes:
>> How did you record the second bill? Did you record it as $X? or $X+0.11?
> The second bill was recorded as X. At the time, I didn't know the
> reason for the 11 cents. And then I paid the second bill.
Uh, wait.. This and what you say below conflict.
>> Before you go off and do this, it very much depends on how you
>> recorded it. Did you record the $0.11 twice? Or not.. How you
>> correct that very much depends on how you recorded it in the first
> Yes, the 11 cents is billed twice. Once because the actual check was 11
> cents less than it should have been, and second time because the utility
> carried the balance forward onto the next bill.
> The better way to handle this, then, is to NOT do it the way I suggested
> but to enter the next bill as .11 less. Right?
Ok. In January you pay the bill minus $0.11. In Febrary you get a
new bill for a total of $20.11. $20 is the Februrary charge, and
$0.11 is the carryover from January. In this case you should input
the bill as $20, not $20.11, because the $0.11 carryover from january
has already been booked!
If you input the febrary bill as $20.11 then you've accounted for that
$0.11 TWICE, and you will have over-accounted for your expense.
When entering a bill, you should ALWAYS enter in the _new charges_
only. Never include rolled-over charges.
Similarly, when you pay the bill(s), you should enter the exact amount
that you write the check.
So, let's take the same example again. You underpaid January by
$0.11. Feb bill comes, $20.00 new charges plus the $0.11 carryover.
You enter a new bill for $20.00, and then enter a payment of $20.11.
The $0.11 will get back-billed to the previous month, and then the
"leftover" $20.00 will get applied to february.
In the case where you accounted for and paid the $20.11 before you
realized it was double-booked, you can recover in march by doing the
reverse. First, you fixed the january payment to match the actual
check (so you're $0.11 short). Then in february you over-billed
yourself by $0.11 (double-booking the expense). In march you can fix
that by entering the bill as $0.11 UNDER the actual bill (if the bill
is $20.00, you book it as $19.89), but then you still apply the
payment as $20.00. The system will then apply the payments to both
the outstanding $0.11 and the newly-outstanding "$19.89."
I hope this all makes sense, now?
Ideally, however, you should unpost the febrary bill, fix the expense
amount so it's actually correct, and then repost it.
> Thanks for your feedback!
Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
Member, MIT Student Information Processing Board (SIPB)
URL: http://web.mit.edu/warlord/ PP-ASEL-IA N1NWH
warlord at MIT.EDU PGP key available
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