How to tag a duplicated payment from customer

Accounting
1

Hi my customer made a payment for an invoice twice, say the invoice value is £1000, but customer paid £1000 twice, and we returned the duplicated payment to customer £1000 minus bank charge £13, so actually returned £987, could you please help how we tag these transactions? Thanks

2

The first incoming monies are tagged as normal to the invoice. The second, you can tag as “something else not on this list” - give a description and post to say “Mispostings Account” 9999.
The returned payment of £ 987 can also be tagged to “something else” and post to “Mispostings Account”
This just leaves the £ 13 difference…
Reports>Journals>“Create” use the same date as the returned payment…
Nominal Code 9999 (Mispostings) DR £13
Nominal Code 7901 (Bank Charges) CR £ 13
Make sure to “Save Journal Entry”
Mispostings nominal should be NIL

3

thanks Bagpipe, sorry but the transactions are actually for the dollar account ,not sterling, and the journals only allows GBP entry?

4

This topic was automatically closed 14 days after the last reply. New replies are no longer allowed.