Supplier overpayment in Essentials

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Contributing Cover User
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Australia
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Supplier overpayment in Essentials

How do enter an overpayment and then allocate it in bank feeds.The overpayment will just come off the next bill.

Ian

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Former Staff
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Former Staff
Australia
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Re: Supplier overpayment in Essentials

Hi there @Ian2015,

 

Once you've created the bill, click on 'Enter payment' and enter in the full overpaid amount. For example, if you have a bill for $250 and you paid $500, enter in the full $500. The status of the bill should then show up as a "Return", and you should notice a supplier return created for the relevant supplier under Purchases > Process supplier returns for $250 (in this example).

 

You can then match this transaction to your bank feed for the full overpaid amount. When the next bill is created, you can then select the relevant supplier return > Apply to a bill, closing it off.

 

Please do let us know how that goes, and feel free to post again should you have any other queries.

Warm Regards,

Tallie

MYOB Client Support

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