Refunds and overpayments

[Maf. King]

On Wednesday 03 March 2010 23:32:28 Mike Evans wrote:
> I guess overpayments are rare, however.
>
> I have a customer who's just paid me, not only what they owe but an advance
> on the next job however, it 's too much (?) so I will need to refund some
> of the money and have it show up correctly in customer->Report.  I can do a
> transfer from bank account to accounts_receivable which corrects bank and
> receivable but this does not solve the customer report problem.  Invoices
> do not accept negative amounts so cannot do it that way.
>
> I could just keep it I guess. :)
>
> It led me to thinking though, can I set up a customer who is also a vendor.
> ?
>
> Mike

Hi Mike,

It is true that GC won't create a -ve invoice total, but you can have -ve 
lines within an invoice.  Are you likely to make more than one supply to them 
in the future?  Could you carry the overpayment forward with a 0 invoice for 
the next job, and then a reduced invoice subsequently?

You could maybe edit the payment that you have recorded in the bank account, 
so as to split the surplus to a generic Liability:CustomerOverpayment 
account, leaving A/R with just the right sum to zero the next invoice, then 
send them a payment to zero the Liability account? 

AFAIK, GC doesn't handle the case where one organisation is both a customer & 
vendor - you have to set the company details up twice, and separate your 
transactions with that company into sales & purchases.

HTH,
Maf.