How to reallocate payments made on invoices

QUESTION:

I’d like to tidy up some of our records by addressing payments made on a single file but applied across multiple invoices. At the moment, these payments are not properly closing out individual invoices as intended.

Is there a way to reallocate these payments so that each invoice is correctly marked as paid?

RESPONSE:

You can proceed with the correction using what we refer to as a "0" amount deposit. Below are the detailed steps to guide you through the process:

1. Create the Deposit Request

   • Generate a general deposit slip request (yellow book) with a value of 0.00.

   • On the receipt form, check the option to allow the selection of a paid invoice (located at the bottom left) if needed.

2. Complete the Receipt Form

   • Fill in the upper section of the receipt form.

   • In the description field, include the reason for the payment reversal, and in the Reference field, enter the affected invoice number. This will make it easier to trace this transaction later.

3. Handle the Distribution

   • In the distribution section, enter the affected invoice number in the Invoice No. field.

   • Tab to the Payment field and input the refund amount as a negative value. When you tab out of this field, the amount will automatically appear in parentheses to indicate a negative value.

   • On the next row, input the new invoice number to which you'd like to reapply the payment as a positive value. Tab to complete this row.

   • Ensure that the total deposit amount remains 0.00.

4. Set the Correct Date

   • Choose a date that aligns with your intended outcome for this correction.

   • Please note: When converting this deposit request (yellow book) to a green book, the date will automatically update to today's date unless reenter another date.