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Xero accounting..

how to post the following

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A] help please :   sales ledger overpayments where an invoice is now paid a second time  by the same customer:    how do you post this to the customer account with out allocating / bank

been looking through a  'xero '  company at the  way they have made it fit - with a few odd ways to post

why do people/small finance-accounts offices post bank statements with payments or DD's direct to p+l either with or without invoices... Apart from vat there is no sensible supplier control or .....      Answer new breed of scanning AI software ! wow

will be googling on the train back to london..

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By Manchester_man
15th Mar 2019 22:11

Go to the plus sign at the top right, select 'receive money', select the relevant bank account, then there is a drop down box top left - click that and select 'overpayment'. This will change the data entry inputs on-screen so that it asks for customer name and posts the credit to debtors with no VAT.

This will then show on that customer's account as an overpayment aka payment on account.

It can then later be refunded or 'allocated' against an invoice.

Bit long winded but that's the way to do it.

This can also be done from the bank rec screen. You would need to select 'new transaction' or something similar (can't remember without Xero in front of me) then select receive money - overpayment.

Hope this helps

Thanks (1)
Replying to Manchester_man:
By kiwilondon99
16th Mar 2019 09:09

many thanks : should this be just one inv/receipt in a much larger overall remiitance' ie say 9 invoices paid + one overpaid - presumably this would require 2 xero entries/bank receipts ? so 2 xero entries v 1 bank statement to reconcile

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Replying to kiwilondon99:
By Cloudcounter
16th Mar 2019 14:15

No. From the entry on the bank statement, select find and match, to check off the 9 invoices paid. Then select, from the same screen, create new transaction and prepare a receive money transaction as above. The whole lot are reconciled in one.

I only use overpayment where the money is going to be repaid to the customer. If it's going to be held and set off against other invoices I will use the prepayment option, which will correctly account for VAT. Or you could simply allocate the overpayment as part payment of another invoice.

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