Customer Over Payments on single Invoice

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Suggested Answer
Hariprasadjm asked a question on 14 Nov 2017 5:01 AM

Hi All,

Our Client want to tag over payments to a specific invoice rather than just close the Invoice and keep the payment entry open.

When customer is over paid for the particular invoice, they do not want to see that there is a payment credit outstanding on the payment. They  would like to see the over payment on the invoice line.

By Base, While Applying payment for invoice in NAV "Amount to Apply must not be larger than Remaining Amount" 

For example, if the customer paid $1020.00 on a $1000.00 invoice, is there a way for it to appear like the below example in the Customer Ledger Entry?

Posting Date

Due Date

Document Type

Source Code

Document No.

Customer No.

Customer PO No.

Original Amount

Amount

Remaining Amount

10/01/2017

11/01/2017

Invoice

Sales

123456789

10000

ABC123

1000.00

1000.00

-20.00

11/01/2017

11/01/2017

Payment

BANKDEP

Dep1234

10000

BDEP123456789

-1020.00

-1020.00

0.00

 

Please provide your suggestion and opinion for this request.

Thanks

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Suggested Answer
Alexander Ermakov responded on 14 Nov 2017 3:05 PM

It is not possible in standard. Also, I would strongly not recommend to make any customization to achieve this, as this would damage the standard logic of how the system works, e.g. on calculating currency exchange rates.

I would rather post two separate payments, one for 1,000 and the other for 20, the second with a comment in Description "overpayment of invoice #XXX", so there is a track which invoice has been overpaid.

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Suggested Answer
AJ Ansari responded on 15 Nov 2017 1:02 AM

I fully concur with Alexander's recommendation not to customize NAV in this area. You can only apply a payment to a receivable in the amount of the receivable. It is not GAAP compliant to over-apply a payment to a receivable of a lower amount.

You can either leave it open, or if your client does not intend to refund it or keep it around to settle a future receivable, then they must create an invoice (from a Sales Journal to keep it simple) for the difference and apply that to the Credit Memo.

Ideally, they will leave it open either as an unapplied portion of the payment, or handle it as Alexander has suggested.

I hope this helps. If my response has answered your question, please verify by clicking Yes next to "Did this answer your question?"

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Suggested Answer
Alexander Ermakov responded on 14 Nov 2017 3:05 PM

It is not possible in standard. Also, I would strongly not recommend to make any customization to achieve this, as this would damage the standard logic of how the system works, e.g. on calculating currency exchange rates.

I would rather post two separate payments, one for 1,000 and the other for 20, the second with a comment in Description "overpayment of invoice #XXX", so there is a track which invoice has been overpaid.

Reply
Suggested Answer
AJ Ansari responded on 15 Nov 2017 1:02 AM

I fully concur with Alexander's recommendation not to customize NAV in this area. You can only apply a payment to a receivable in the amount of the receivable. It is not GAAP compliant to over-apply a payment to a receivable of a lower amount.

You can either leave it open, or if your client does not intend to refund it or keep it around to settle a future receivable, then they must create an invoice (from a Sales Journal to keep it simple) for the difference and apply that to the Credit Memo.

Ideally, they will leave it open either as an unapplied portion of the payment, or handle it as Alexander has suggested.

I hope this helps. If my response has answered your question, please verify by clicking Yes next to "Did this answer your question?"

Reply