How should I manage an underpaid invoice?
If an invoice has been underpaid, still match the bank transaction to the corresponding invoice. The bank transaction will move to the Completed screen but the invoice will remain in the Needs Action screen until it has been fully paid and matched.
The invoice will display a Partially Paid token and the remaining amount due.
When the remaining amount is paid, Match the transaction to the partially paid invoice and the transaction and invoice will be moved to the Completed page.
How should I manage an overpaid invoice?
If you try to match an invoice to a transaction that is of a greater value, then the Match button will remain greyed out and will not allow you to select Match. The Matching assist button (?) will highlight if there is an error and provide hints as to why you may not be able to match.
Go to the Needs Action Page
Create a + Record Money out manual invoice for the value of the overpayment Find out more, or update the invoice to the same value as the transaction, recording in the description the reason for the overpayment.
Code the overpayment (see below) and Save.
Go back to the Matching page and Match the bank transaction with the two invoices.
What should I code the overpayment to?
We recommend you allocate the overpayment to a contra code, as the overpayment could inflate the total amount spent against the farm expenditure code. When you receive the next invoice from your supplier there should be a credit balance brought forward. Code the credit amount back to the contra code you used earlier so that it has a $0.00 balance
You will need to create the contra code (ie a new farm code): Find out more
Go to Settings > Codes > Farm codes
In the section called OTHER create a New Extended code. We recommend you create it under Deferred Expenses and name it Overpayment
Make sure the GST type is Exempt.
Set the KPI reporting group as Non-Farm Expenses (or similar so that it doesn't affect the EFS report)
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