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Client pays me 1p over my invoice amount, FreeAgent marks it as 'overdue'
So, I have a client that occasionally overpays an invoice by a penny - sometimes they underpay by a penny to 'balance'.
In FreeAgent, explaining this transaction by tallying it with the invoice causes the invoice to be marked "Invoice xxxx (Overdue - £-0.01 due about 9 hours ago)"
The invoice is paid of course, so how do I 'tidy up' this issue?
I don't want to reduce the actual true amount paid by a penny, as this will show incorrectly in my bank balances (i know it's a penny, but it's the cognitive dissonance!!!)
In FreeAgent, explaining this transaction by tallying it with the invoice causes the invoice to be marked "Invoice xxxx (Overdue - £-0.01 due about 9 hours ago)"
The invoice is paid of course, so how do I 'tidy up' this issue?
I don't want to reduce the actual true amount paid by a penny, as this will show incorrectly in my bank balances (i know it's a penny, but it's the cognitive dissonance!!!)
I’m itchy
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Inappropriate?Guy,
How about this:
We create a new invoice-item type which is 'credit/carried forward from other invoice'? You could then credit the original invoice with that penny for payment later...it would then be marked as paid of course.
I’m not wanting to leave you in at itchy state
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Inappropriate?That would work (so it works in a similar way to how multiple invoices can be reconciled against a 'master' payment).
This invoice type of ''credit/carried forward from other invoice' is something you'd create in the system, right?
I suppose another option would be that an invoice that has been allocated the full funds would be marked as 'paid', and excess monies sits in the account with the ability to explain the payment as 'other cash'?
I’m undecided
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Inappropriate?I have a similar-yet-slightly-more-awkward problem...
I also have an invoice with a 1p overpayment that's marked as overdue. Unfortunately it was just a one off and is not likely to ever be reconciled by the client (an agency with a faceless accounts dept. who are fairly inept at the best of times). Short of sending them a cheque for the 1p, is there any way I can deal with this overpayment neatly?
I’m new here.
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This answers the question
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Simon - you could just explain it as 'Other Money In > Misc Income Receipt'... -
Inappropriate?Excellent, thanks Ed. I seem to have a mental block when it comes to accounts and I was looking for some kind of over-complicated solution!
I’m feeling a bit thick.
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This answers the question
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Patrick,
We now have Advertising, Subscription and Other Sales income directly as Money In categories now...
EMPLOYEE
