Recording an Overpayment

Many of our organizations take other forms of payment when recording that information to an invoice. How often is it that a registrant will write a check for a whole amount but would either like a refund or some sort of credit to their account? Well, we have a solution in place for you.

The first thing that needs to be noted is that all payments made in ASAP need to be accounted for something. This means that any payment made needs to be allocated to a specific item. This is the reason why overpayments cannot be processed directly.

Let's set up this example invoice. I have a student that has a $45 invoice and he had just written me a check for $50. Let's go ahead and try to process the check with the overpayment:

As you can see, I have a $50 check and a $45 balance on this invoice. Let's click on "Save Changes".

As you can see, an error message is generated that states that we cannot process this over payment. As mentioned earlier, all money must be accounted for on the invoice in order for it to be processed. So, how do we account for the extra $5? Simple! We add a manual fee! To do this, just select the "Add Items" button and choose "Fee" as the option:

Once you select "Fee", we're giving a new menu with options to input. You'll notice that there's a few different boxes that need to be completed in order to process the overpayment. For my current example, I've decided to issue a credit but this can also be used to record a refund, depending on how you label the item and description. So let's go ahead and fill out the boxes:

You'll notice I have the name of the fee, a short description, which G/L account I would like it attached to, and the fee amount that is the difference between the check amount of $50 and the class fee of $45. So once I click on "Add a fee", I'm brought right back to the invoice:

As you can see, a new line item is added with both the fee name, description, and the fee amount. You'll also notice the total has been updated, which will now allow me to add in the check. So let's go ahead and process this payment:

From here, it's just a matter of either issuing a credit or processing a refund, depending on which direction you are choosing to handle the over payment. Here are two articles that can help you the rest of the way:

Account Credits and Generic Credits

Processing a Refund

 

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