How to close a partially paid invoice without creating a refund for the pre-tax amount?
Suppose the products price total $100 and the taxes amount to $15. The invoice totals $115. The customer sends a check for $110 and for whatever reason we want to close the invoice as fully paid. If we go to make a refund then we have to manually calculate a pre-tax amount so that the refund totals $5.
Is there a better way where we wouldn't have to do this manual calculation?
Register the partial payment then reconcile the partial payment with the invoice and choose to assign the difference as a writeoff. Do not create a refund.
Go to the customer's form view. In the More menu, select Receivables & Payables. Select the invoice and its partial payment. In the More menu, select Reconcile. In the next window, select Writeoff or another as appropriate.
Please try to give a substantial answer. If you wanted to comment on the question or answer, just use the commenting tool. Please remember that you can always revise your answers - no need to answer the same question twice. Also, please don't forget to vote - it really helps to select the best questions and answers!
About This Community
|Asked: 3/30/14, 9:55 PM|
|Seen: 1494 times|
|Last updated: 3/16/15, 8:10 AM|