Write Over Payment Record For Free - Payment Record Form

Select the customer name in the Customer:Job field. Select Minor Charge-Off in the Item field and enter the amount of overpayment. Select Apply Credits.

If cash accounting is used, the overpayment would be recorded as a liability under customer deposits or prepayments. Credit memo: A credit memo is effectively a credit note, or negative invoice. It's a way to acknowledge to a customer that they have a credit balance that will be applied to the next invoice.

Overpayment letter to employee template for immediate use You are receiving this letter because an overpayment has been issued to you in the amount of $X. XX due to: (State Reason Here). Please sign, date, and return the form below within X days. I have been notified of an overpayment in the net amount of $X.

Generally speaking, for the overpayments you could record an invoice for the overpaid amount and allocate it to a rounding income account, then you would apply the overpaid amount to that invoice created.

Provide a Refund Businesses often issue overpayment refunds in the same format as the customer provided payment. For example, if your customer paid by check, you may return a check for the overpayment refund. If he paid by credit card, however, you can usually issue a refund directly to the card.

How to record when you receive an overpayment from a customer. This includes using the overpayment to pay another invoice and paying a refund. You save the overpayment as a Payment on Account. Once saved, use it to pay another invoice or match to a refund.

So, there's nothing criminal if you legitimately didn't realize that a company overpaid you ? though you still need to give back money you didn't earn. If you knowingly keep money that you know should not have been sent to you, you are committing theft by deception.