How to account for minor adjustments

Account for under paid invoice

When an invoice is under paid, there is two options to account for it

1. Reconcile the remaining amount as a discount

2. Reconciling the received amount and reclaiming the balance from the customers as the due payment

 

Reconcile the remaining amount as a discount

1. In the accounting module go to the bank account and click on Reconcile XX Items

2. Select the bank feed  for the payment received

3. Go to manual operations tab.

4. Update the account as Discount account and the amount as the amount remaining

5. Now from the match existing entries tab search for the invoice for which the payment is received

6. Now validate the payment

Reconciling the received amount and reclaiming the balance from the customers as the due payment

7. In the accounting module go to the bank account and click on Reconcile XX Items

8. Select the bank feed  for the payment received

9. Now from the match existing entries tab search for the invoice for which the payment is received

10. Now validate the payment



11. The balance amount will be in the invoice as the due payment.


Account for over paid invoice

12. In the accounting module go to the bank account and click on Reconcile XX Items

13. Select the bank feed  for the payment received

14. Now from the match existing entries tab search for the invoice for which the payment is received

15. Now validate the payment

You can set off the over payment amount to other invoices of the same customer or refund it back to the customer.