Sample Letter for Return of Overpayment to Client [Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Client's Name] [Client's Address] [City, State, Zip Code] Subject: Reimbursement of Overpayment Dear [Client's Name], I hope this letter finds you well. I am writing to inform you that during a recent review of our financial records, it has come to our attention that an overpayment was made on your account. We sincerely apologize for any inconvenience caused by this error and would like to rectify the situation promptly. According to our records, a payment of [amount] was made on [date] for invoice number [invoice number]. However, upon further analysis, it has been determined that the actual balance due was [correct amount]. Therefore, we are refunding the overpayment amount of [overpayment amount] to you. To expedite the reimbursement process, we would appreciate it if you could confirm your preferred method of receiving the refund. You have the option of choosing between: 1. Direct Bank Transfer: Please provide us with your bank account details, including the account holder's name, bank name, account number, and routing number. 2. Company Check: If you prefer to receive a physical check, please provide us with the mailing address to which we should send it. 3. Credit Card Refund: If the overpayment was made via a credit card transaction, please let us know the credit card details we should use for the refund, including the card number, expiration date, and the name on the card. Once we receive your preferred method of reimbursement, we will process the refund as soon as possible. Please note that we are committed to ensuring complete transparency and accuracy in our financial transactions. We assure you that we have taken the necessary steps to prevent such an error from occurring again in the future. Should you have any questions or concerns regarding this matter, please do not hesitate to contact our accounting department at [phone number] or via email at [email address]. Thank you for your understanding and cooperation in this matter. We value your continued partnership and aim to maintain a long-lasting business relationship. Yours sincerely, [Your Name] [Your Title/Position] [Company Name]
Nassau New York Sample Letter for Return of Overpayment to Client
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FAQ
Overpayments can be recovered by sending back the incorrect paycheck, setting up an overpayment on the Additional Pay page or allowing the automatic retro process to recover the overpaid amount.
You will have to pay a 30 percent penalty in addition to the overpayment amount. You may also be disqualified for future benefits for up to 23 weeks. Non-fraud: If the overpayment was not your fault, it's considered non-fraud. You will receive a notice telling you if the overpayment must be repaid.
I would request you to kindly refund the over-paid amount i.e. (overpayment amount) at the earliest by (mode of payment). I shall be highly obliged for your kind support.
WHAT IS AN OVERPAYMENT? An overpayment is when you receive more money for a month than the amount you should have been paid. The amount of your overpayment is the difference between the amount you received and the amount due.
Dear Employee First Name, As you are aware, you were recently overpaid Amount in wages (hereby referred to as the 'Sum'). The overpayment was due to Overpayment Reason and occurred on Overpayment Date. We wish to reach an agreement with you for repayment of the Sum.
Dear Sir/Madam, I am writing this letter to request a full refund for the clothes I ordered from your store. I had got a lot of reviews which is why I ordered a few cloth materials worth Rs. 20,000 for my painting business.
What do I do if I receive an overpayment letter? A. An overpayment letter is a formal request to repay a debt owed to the Medicare Trust Fund. Payment is due upon receipt of the notice. Send the payment with a copy of the overpayment letter received or request an immediate offset.
SolutionUse a credit balance adjustment to apply the overpayment as a payment to subsequent invoices.Use a negative invoice charge to apply the overpayment as a credit to a future invoice.Return funds to the customer and do not record any credit balance or negative invoice credit in Zuora.
Under the Federal Labor Standards Act (FLSA) - the federal law governing wage and hour issues - employers can deduct the full amount of overpayments to employees, even if doing so would bring the employee's wages below minimum wage for the pay period.
Double-check your records before you take action after an overpayment.Document the overpayment in your records.Type a letter to the person who made the payment, explaining that he paid in excess of the amount due.Debit the same account that you applied your customer's or client's payment to when you send the refund.More items...
