AClark73
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Debt Collection Transactions
Hi Brains Trust We recently used a debt recovery company to recover an outstanding payment of an invoice. The customer had made a part-payment, and then didn't pay the rest. Through the debt company, we received the outstanding payment less the fee which the devt collector kept and passed on the remainder. Initial invoice $2090 Initial payment $500.00 (which was allocatod to the initial invoice ages ago) Debtor owed $1590 Debtor made payment of $1590 to debt collector, and amount deposited in our account $1240.20 Debt collector 'paid' $349.80, although no actual payment made. I have no idea how I close out the invoice, as the outstanding invoice amount and amount paid do not match. Also do not know how I out through the 'payment' to the debt collection company. Please send help :-)519Views0likes1Comment