How should I manage an under-paid invoice?

  1. Match the bank transaction to the corresponding invoice and Save as normal.

    The invoice will continue to sit in Needs Action displaying a Partially Paid token and the remaining amount due until it is matched to the balancing transaction.

In the example above the original invoice was for $1625.52 but the client only paid $1,525.25 hence the Country Vets Ltd was underpaid by $102.27.

2. When you pay the remaining amount, Match it to the invoice to bring the balance owing to $0.00.

The transaction and invoice will be moved to the Completed page.

How should I manage an over-paid invoice?

TIP: We recommend you open the invoice to match the transaction.

When you try to match an invoice with a lesser value than the transaction, you will see the following message:

  1. Click on the Go to transaction button.

  2. In the bank transaction, add a Line Amount for the value of the overpayment.

  3. Click Match to match the invoice, then Save.

What should I code the overpayment to?

We recommend that you allocate the overpayment to a contra code.

The reason being, the overpayment could inflate the total amount spent against the farm expenditure code. For example, reporting will show $75.41 was spent when in reality it was $57.31

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 can create the code as follows:

  1. Create a Category.

  2. Place it in the section called OTHER.

  3. Make sure the GST type is Exempt.

  4. Set the KPI reporting group as Non Farm Expenses (or similar so that it doesn't affect the EFS report)

More Info

Add a new farm code

Did this answer your question?