write off customer credit

[Geert Janssens]

On Sunday 13 December 2015 04:46:39 peregrinedesign wrote:
> I have spent hours reading previous threads related to this, but can
> not find anything that helps.
> 
> I have a customer who overpaid and there is now an amount shown as a
> 'credit' in their customer report. I need to zero out their account by
> writing off the amount. In other words, I will not be refunding or
> crediting them, so I want that amount gone so I don't see it anymore
> as a negative amount in the customer report or in the receivables
> report.
> 
> I am not an accountant so please, detailed, step-by-step would be so
> very much appreciated. I have wasted so my time trying to figure this
> out.
> 
> 
> 

Hi,

If you received more money then you invoiced, you have in fact got an exceptional income.

Here is one thing you can do so it won't show on your customer or receivables report:

Select the payment transaction in your bank account.
Then choose Split view so you see all the splits.
I presume this transaction has 3 splits:
- one in the bank account for the total amount paid
- one in your account receivable account for the amount of the invoice
- one more in your A/R account for the overpayment amount

Change the account for the last split to something like Income:Other or wherever you wish to 
track this exceptional income.
When you leave the transaction this change will be recorded.
If you check your customer report now, this overpayment should be gone. It will also be gone 
from the payment dialog for this customer. (And I presume from your aging report as well, but I 
haven't checked that one).

Does this solve your issue ?

Regards,

Geert