WebSep 16, 2015 · How to Contra Customer and Supplier payments in MYOB Accounting Ken Leong 819 subscribers 11K views 7 years ago When a customer is also your supplier, you may use contra account … WebCustomer submits two payments of $50 ($100 total) by check, for a $50 invoice. The amount overpaid by the customer is $50. To apply the $50 overpayment as a payment to …
Journal entry for refund from vendor Example - Accountinguide
WebNov 21, 2024 · With professional accounting and invoicing software from MYOB, you can create and send invoices from any device, so you get paid faster. MYOB lets you create … WebIntro How to deal with supplier overpayments- QuickBooks Online PJCO Accountants 933 subscribers Subscribe 20 3.8K views 1 year ago QuickBook Online Tutorials Expert UK-based QuickBooks... marina gallery llandrindod wells
How to account for an overpayment to supplier AccountsPortal
WebJan 11, 2024 · Scenario 1: The supplier sends you a refund cheque for a bill that is already paid Record a Deposit of the supplier cheque: Go to the Banking menu, then select Make Deposits. If the Payments to Deposit window appears, select OK. In the Make Deposits window, select the Received from drop-down and choose the supplier who sent you the … WebFeb 27, 2011 · 1 Create another invoice for $500 to the client (Optional – you can post to a new sales account or clearing account eg 4.9000 Over-Payments, with GST as applicable, then it will stand out if not dealt with until later) 2 Apply Customer Payment to … WebMay 15, 2024 · When paying an invoice, sometimes your customers may accidentally overpay or record the payment twice. Mistakes can happen, but there are a number of ways you can easily handle the overpaid amount: apply it to another unpaid invoice create a … When you enter a sale, you can record a customer payment at the time the sale … To record a refund. Go to the Sales command centre and click Sales … natural stone flooring kitchen