clearing out 0.01
hello ,
i have over 300 customer invoice which have 0.01 balance outsanding. what is the best way to clear out ?
thank you
AK
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Hi Sharna_
I assume you are not intending to try to recoup those small amounts from the customer?
If so, you have a few options available:
- Edit the amount of the invoice to be slightly lower to match the payment. Could be done by adding a negative line to the transaction (Editing an invoice would have implications for factors such as reporting and GST. We do recommend speaking with an accounting advisor in relation to how editing a transaction would impact the information of that company file and the impact that it can have.
- Creating a $0.01 credit note (negative sale) then applying that to the customer's invoice using the Returns and Credits tab of the Sales Register, could also be a suitable workaround for this situation.
- Create a holding bank account (Accounts>>Accounts Lists>>New - give the account a number, name and set the account type to be Bank), record a payment transaction to pay off that residual amount of the invoice. This amount could be journal across to another account if required after that payment transaction has been recorded.
