How do I adjust a few pence from an unallocated amount

Accounting
1

Hi,

One of my suppliers has taken a prepayment of £280, the invoice has arrived for £279.95. It really doesn’t seem worth the phone call to ask for a refund, what is the correct way of adjusting this mistake?

Do I create an invoice for 5p, alter the invoice from them to match the payment or is there an alternative way of adjusting the figures?

Thanks in advance for your replies

Nick

2

Hi Nick,

Adjusting the invoice or creating a new one for the 5p should be acceptable given it’s a small value.

Note: I’m not an accountant.