Hi Dynamics experts.
Hopefully this is a simple question:
We had some issues with receivables, where some Invoices were posted a penny over the actual invoice amount. Our system is set up to automatically apply payment amounts to customer invoices based on the invoiced amounts. Application occurs aurtomatically at the time of invoice posting.
In this example I am working on a customer payment recorded in NAV as £11.26 for a posted invoice, also at £11.26. However the invoice amount (inc VAT) should have been £11.25 & was rounded up in error. The payment actually received in Paypal was also £11.25.
So far the steps I have taken to correct this are as follows:
1. I have unapplied the erroneous £11.26 payment from the (also incorrect) posted invoice.
2. I used the create corrective credit memo function from within the posted invoice screen to reverse the erroneous £11.26 invoice
3. I created a new invoice, using the 'copy document' feature to import the Line info from the now reversed Posted invoice, used the statistics button & amended VAT down by a penny, and posted the corrected invoice at £11.25
4. Upon posting the corrected invoice, a payment was automatically applied to it at £11.25 & it now shows as allocated correctly at the correct amount in the Payment Recocniliation Journal I have been working from to find these discrepancies.
However, I now have an unallocated payment in the customer ledger for £11.26 & am struggling to find clear documentation on how to void erroneous or duplicate payments from the customer ledger to correct this.
I assume this can be done using a general journal? But I am still trying to get my head around how the journals affect various ledger entries & am unsure on how to handle this final part, to void the incorrect payment from the customer ledger entries for the customer in question.
Any help provided would be much appreciated. I am more used to the Quickbooks workflow in which voiding & correcting erroneous payments is incredibly easy & intuitive.
Thanks,
Matt
