Amount owing on an old purchase, which has been paid in full

dunsboroughsett

Prior to myself working at this business there was a puchase of a mobile phone entered, which was paid off each month. (The original puchase was made in 2019 and was entered as an asset <$20,000.)

At some stage there has been an error. Although the phone has been paid for in full, in MYOB it still says $69.69 is owing. How can I clear this amount?

LRBooks61

Hi 

is it possible that a payment  has not been allocated correctly against the invoice? Perhaps coded directly to a general ledger code in error

 

I suggest that you check that first, an easy way is to go into the invoice and down the bottom there is a history box . 
click into this and check the payments - is there a month missing?

if that isn't,t the case was the invoice correctly entered - does the total match the payment plan total

 

if doing this doesn't provide an answer I would  enter a credit note to offset the residual and date as at 30 June and record it against the invoice

 

as an aside there should have been an entry for the phones as an asset and a liability to repay. The liability would include any interest charges also

 

hope that helps

 

Lisa