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Tektite's avatar
Tektite
Experienced User
8 months ago
Solved

How to record purchases overpayment made to a consolidation company

Hi, I would really appreciate some help with this. We are in the automotive industry and have been using Capricorn to pay a group of suppliers.  Recently, I ended up overpaying Capricorn because th...
  • Genreve_S's avatar
    Genreve_S
    8 months ago

    Hi Tektite, 

     

    The way this payment’s been recorded is a bit different than usual. It’s kind of stuck in limbo at the moment, because your software knows when it hits the invoices and when it goes out of the bank, but isn’t tracking when it’s sitting as a credit with Capricorn.

     

    One way to sort this: set up a separate account just for Capricorn. Pop the $1714.49 across to that account and then pay the invoice dues ($460.90) from there. Should do the trick – but best to double-check with your accountant to make sure it all adds up right.

     

     

    Regards,

    Genreve 

Genreve_S's avatar
Genreve_S
MYOB Moderator
8 months ago

Hi Tektite, 

 

The way this payment’s been recorded is a bit different than usual. It’s kind of stuck in limbo at the moment, because your software knows when it hits the invoices and when it goes out of the bank, but isn’t tracking when it’s sitting as a credit with Capricorn.

 

One way to sort this: set up a separate account just for Capricorn. Pop the $1714.49 across to that account and then pay the invoice dues ($460.90) from there. Should do the trick – but best to double-check with your accountant to make sure it all adds up right.

 

 

Regards,

Genreve 

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