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> Accounting Question, Credit for balance
nootkan
Posted: July 28, 2014 06:39 pm
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I know this isn't a php coin issue but I am having problems trying to figure out how to mark an invoice paid when the client was owed a balance from the last month. phpcoin sent out the proper invoice minus the credit from last month but when I look in the invoices there are two of them, one for the original amount owed (this month) and one for the credit (last month). I've tried showing the original invoice as paid but it still shows the credit on the previous invoice. I also tried just showing the invoice as the amount minus the credit as paid. But then there is a balance owed of the original credit. This is the first time I've run across a client paying more than his original invoice statement requires so I am a bit confused. Probably just staring me in the face but thought I ask here in case someone else has seen this and knows the proper procedure for balancing the invoices.
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nootkan
Posted: July 28, 2014 06:46 pm
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Update: I guess actually writing out the issue got me to thinking better. Not sure if this is the proper method but I solved this by just changing the credit invoice to show that the normal amount was paid originally even though it wasn't and then changing the new invoice to also show that the normal amount was paid even though it wasn't and now both balances are zero.

No wonder my accountant asks for so much money his head must be hurting by the end of doing my books. LOL
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lightman
Posted: July 28, 2014 07:24 pm
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If you enter your credit invoices with a negative amount - you may find it easier to reconcile cross-credits with new invoices and their respective payments.


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nootkan
Posted: July 28, 2014 07:56 pm
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Hi Lightman, actually all I did was show the invoice as paid with the extra amount added to the total and phpcoin added the minus symbol in the invoice showing the credit. The problem came the next month when I had to show the new invoice as paid minus the credit from the month before. I had to manually edit last months invoice to erase the credit applied as just showing this months invoice as paid with the new total didn't subtract the credit difference. Then I just made this months invoice look as though the original amount was paid. Worked for me, but like I said I'm not sure if there is a better way.
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