Despite our customers best efforts to pay what is due – you may have a customer who has accidentally overpaid you.
It may be that your customer pays you just a few pennies more than you’ve invoiced for – or they may have paid you hundreds more. How do you account for it?
Regardless of which accounting system you use – the concept remains the same, the only difference may be the terminology used. As we are Xero accountants, we will use Xero to show you what to do.
There are a few solutions for this, depending on the circumstances and desired outcome:
