Received Overpaid from Customer at Different Date

Hi,

I would like to ask regarding Overpaid from Customer.

In my cases, the Invoice dated 07/12/2017 and customer paid on 07/12/2017 by Online Banking.

On 14/02/2018, I got noticed was the same Customer had paid for same Tax Invoice by Cheque.

So, any suggested action how to:-
1. Record receive payment
2. Record refund payment

Gladly appreciate if can reply as soon as possible.

Thank you so much.

Asked on February 27, 2018 2018-02-27 03:30:48 Business (商家)
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1 Answer(s)

If your customer has paid for the tax invoice twice then all you need to do is to refund to them.  The accounting entries are as follow :

When you received the payment from your customer :
Dr. Bank / Cash Book – Tax code either OP or leave blank
Cr. Customer – Tax code is OP

Then when you refund the amount back to your customer :
Dr. Customer – Tax code is OP
Cr. Bank / Cash Book – Tax code is either OP or leave blank

Answered on February 27, 2018. 2018-02-27 03:45:12
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