Question asked by Michelle Underwood 11 years ago
When a customer over pays, is there any way of leaving the over paid amount on their account as credit for next time?? I have tried several ways but it won't let me enter more than what is on the invoice.
Thanks
Hi Michelle,
In this instance what you can do is create a Payment on Account which will allow you for example to create a Money IN transaction of £500 and use it to pay an invoice of £300 which then leaves you £200 as a payment on account to use for next time. To create a payment on account you can follow the guide in the link below which is a Clear Books guide detailing all the steps involved.
http://www.clearbooks.co.uk/support/guides/money-in/placing-payment-on-account/
Kind Regards,
Best answerPerfect, I can honestly say it very rarely happens that a customer overpay us! So I think I will ask them to send their details so I can return it, it'll be so much easier that way! Thanks Kevin
In theory it should, whether or not you fully abide by the rules is a decision you need to make.
http://www.hmrc.gov.uk/vat/managing/special-situations/instalments.htm#2
From personal experience, if it's an occasional occurrence I doubt any inspector would get his knickers in a twist over it. However, if it's happening regularly you really should put a correct system in place.
Go for it - yes we are, ooooo i bet that makes it a bit more complicated now!
Not meaning to open a can of worms but are you VAT registered Michelle?
No Worries Michelle, glad I could have helped :)
Kind Regards,
Perfect thank you!
You must 