Brilliant, just spent about an hour trying to do this duplicate payment but since watching this video have sorted in about 2 minutes. thanks so much for your video!!
How to reconcile a past overpayment, that was two different invoices paid twice, under reconciliation. They have issued a bank payment with 1 refund line in two different batch payments
great detail .... can I ask a Q about general receipting in Xero. Client marks as paid, I reconcile later. Does the payment need to be marked against invoice first or can it simply be done at reconciliation stage. Seems like a double entry. Is that right. In other software, you to create a receipt/deposit first, then reconcile, but it looks like Xero is different. or am I missing something in the process? Would appreciate some clarification thankyou.
Hi Gavin, technically it is a liability. Dr Bank Cr Acc Rec. Another way to describe it is a negative asset, because it pushes the receivable account balance for that customer into the negative.
Very easy to understand, I read the articles on Xero's help centre, but it was difficult to follow compared to this. Thank you mate.
You're welcome Daniel. I'm glad the video has helped.
Brilliant, just spent about an hour trying to do this duplicate payment but since watching this video have sorted in about 2 minutes. thanks so much for your video!!
Good stuff Heidi, glad it helped.
Thank you. This video is very helpful.
Super easy to understand. How do we then send the credit note to the customers accounts team?
Thank you. It was so easy to understand following your video.
You're welcome Tamar.
Super easy to understand! Thanks for sharing!
You're very welcome!
How to reconcile a past overpayment, that was two different invoices paid twice, under reconciliation.
They have issued a bank payment with 1 refund line in two different batch payments
thank you so much
great detail .... can I ask a Q about general receipting in Xero. Client marks as paid, I reconcile later. Does the payment need to be marked against invoice first or can it simply be done at reconciliation stage. Seems like a double entry. Is that right. In other software, you to create a receipt/deposit first, then reconcile, but it looks like Xero is different. or am I missing something in the process?
Would appreciate some clarification thankyou.
Very helpful video. Thank you 🙏
skip to 8:14 for example on how to do a refund
If credit note was created and applied to future invoice earlier, how can we reconcile the payment?
how to record
refund of extra/excess received to customer
Why is it to acc rec? thought it would be a liability. Like acc payable..
Hi Gavin, technically it is a liability. Dr Bank Cr Acc Rec. Another way to describe it is a negative asset, because it pushes the receivable account balance for that customer into the negative.