In which account are Invoice customer balances posted

[Adrien Monteleone]

Roger,

You are correct.

Ideally, that overpayment should instead be held as a liability in the form of ‘customer deposits’ but I suppose that would have complicated the code.

A reverse balanced AR is technically a liability, not an asset.

When I encounter such a situation, I set a scheduled transaction for 30 days ahead. When that transaction fires for my approval, I check to see if the Customer Report still shows the credit balance. If so, I use the SX to move the funds from AR to Liability:Customer Deposits which I’ll use as a payment method on their next invoice when that happens.

Regards,
Adrien

> On Jan 29, 2018, at 2:50 PM, rmomxtx at gmail.com wrote:
> 
> When a customer pays more than the amount due on an invoice that balance
> appears in the receive payment window the next time there is an invoice to
> pay. In which account is that balance stored? I suspect it is kept in
> receivables. Is that correct?
> 
> 
> 
> Trying to figure out a way to keep track of what portion of the balance in
> the checking and cash accounts are advance payments. 
> 
> 
> 
> Thanks,
> 
> Roger
> 
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