Refunds and overpayments

[Mike Evans]

On Thursday March 4 2010 09:30:22 Maf. King wrote:
> 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.
Thanks all for the advice.  The Liability:CustomerOverpayment account seems to 
work fine for me.
Mike

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