In circumstances where a client short-pays an invoice and you wish to adjust the minor ifference, you have 2 options.
Firstly, you can process the difference as a “Discount to give” when processing the receipt. As seen in the screen below.
•Client Invoice is $4,500.00
•Receipt is $4,494.90 – difference is $5.10.
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Note |
This will not adjust GST as such you may prefer to use the adjustment process noted below. |
Secondly, you can process the receipt and subsequently do a journal adjustment for the difference.
1. Client Invoice is $4,500.00.
2. Dissect the receipt value ($4,494.90) to the invoice as normal
3. The unpaid value displayed is $5.10
4. Select the client and click on the Cr Jnl button (reduce client balance)
5. Select Period & Date. Enter a Reference & Description. Enter the Journal Value.
6. The first account in the bottom window will default to Trade Debtors.
7. You will need to enter the applicable account on the 2nd line eg Bad Debts or whatever is appropriate.
8. When completed click on the OK button.
9. Go back into the Client Enquiry screen
10. You will now need to Match the Journal to the Invoice
11. Enter the value of the Journal into the Pay box. Click on OK
12. Your invoice is now reconciled.