How do I record a supplier overpayment in Sage?

To post a supplier overpayment go to Suppliers > Supplier payment > fill in the Bank A/C Ref, the Date, the Payee and type in the overpayment value. Click Save and you will receive a message asking if you would like to post this as an unallocated payment on account, click Yes on this.

How do I record an overpayment to a supplier in Sage 50?

Option II: Recording an overpayment to a vendor In the Payments Journal/Payments screen, click the Enter Vendor Prepayments button under the Payment navigation tab. The Prepayment Amount field will appear above the Total. Enter the additional amount in the Prepayment amount field. Click Post or Process.

How do I record a supplier overpayment?

You record an invoice as Paid on the Supplier Payment screen. If the amount paid is more than has been invoiced, you’ll need to change the figure in the Amount Paid box to show how much has been allocated to the invoice.

How do I process overpayments on Sage?

  1. Open the Receipts window and create a second receipt.
  2. Select the customer ID.
  3. Select Paid By Cheque.
  4. Select the correct bank account from the Deposit To drop-down list.
  5. On the credit line (it will be red), enter the Amount Received as a positive number. The total will display a negative amount.
  6. Select Process.
  7. Select Yes.

How do I record a refund from a supplier?

Record a Bill Credit for the returned items:

  1. Go to the Suppliers menu, then select Enter Bills.
  2. Select the Credit radio button to account for the return of goods.
  3. Enter the Supplier name.
  4. Select the Items Tab.
  5. Enter the returned items with the same amounts as the refund cheque.
  6. Select Save & Close.

How do you account for overpayment?

There are three approaches to handling an overpayment:

  1. Use a credit balance adjustment to apply the overpayment as a payment to subsequent invoices.
  2. Use a negative invoice charge to apply the overpayment as a credit to a future invoice.

How do I refund an overpayment on Sage 50?

Select Tasks, and then Receive Money. Select the Customer ID, and enter the Date and Reference number. Place a check in the Pay box of the credit and refund. Save the receipt.