Client £98 in credit but unsure why

Accounting
1

Hello,

Bit of an odd one. On billing a client, I’ve noticed that their account is showing £98 in credit but I’m really unsure why or how this has happened. I can only think that it was a problem with invoices that I tried to sort out at some point. Is there an easy way of identifying that?

Thanks in advance.

2

Look for Debtor / Creditor Report under Reports > All Reports > Other Reports then click on export data at far right, an excel file will be downloaded, look for prepayments entries. This should help in deleting over payments

1 Like
3

Oops sorry, just realised it’s not a credit but account balance and it’s listed as a prepayment.

4

View all their payments, then advanced search for type “unallocated”. This will show which specific payments and/or credits make up the £98, and you can hopefully trace from there to see what has happened.

1 Like
5

Thanks Ian, will give that a shot!

6

Okay I have found the reason, one is an unallocated payment but from 2017 and the other is overpayment from a cheque in 2016.

The unallocated payment seems to be linked to a bank transfer between accounts, and possibly something with a PayPal payment that went awry. Any idea how to fix that as it’s outside of the accounting period. I think it’s erroneous, so can it be archived/deleted?

7

Just double checking here, re the erroneous balance and whether there is a way of archiving or deleting the unallocated?

8

Hi @tobyw7,

If the balance isn’t locked by anything then you can simply delete it. You will be unable to delete it if it locked by a Year End/VAT return etc.

1 Like
9

Thanks Beth! I will take a look and see if I can do that. Just tidying up some loose ends in the system.

10

So having looked back I found the issue with one unallocated payment, this was incorrectly tagged and then tagged correctly to a different bank transaction so the incorrect was left unallocated - I have now archived that, as it wouldn’t allow me to delete.
The remainder was an overpayment on an invoice which makes sense.

11

This topic was automatically closed after 3 days. New replies are no longer allowed.