How do I use the adjustment field in receipts?

Occasionally you will have a payment that doesn’t match the open balance, for instance because of a wire transfer fee or accidental over- or under-payment. To adjust the receipt and close the invoice, follow these steps.

  1. Enter the actual amount received into the Amount field for the receipt item. For example, you have an outstanding invoice for 988.90. Your customer wires you the full amount, but there is a wire transfer fee of 30.00, leaving you with a total of 958.90. You would enter 958.90 in the Amount fields under both the General Info and Invoices tabs.

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  2. Enter the exact amount of the adjustment in the Adjustment field for the receipt item. In the example above, that would be 30.00.
    Note: If the number in the Amount field is less than the balance, the number in the Adjustment field should be positive. If the number in the Amount field is more than the balance, the number in the Adjustment field should be negative.

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  3. The Total field will automatically populate with the Amount + Adjustment; in this case, 988.90.

    Adjustment_Field_3_no_dollar_sign.png

  4. When you post the receipt:
    • The Receipt Amount will generate a GL Transaction against the Bank Account.
    • The Receipt Item Amount will generate a GL Transaction against the A/R Account.
    • The Receipt Item Adjustment will generate a GL Transaction against the Receipt Adjustments (Discounts Given) Account.
    • The Receipt Item Total will be applied against the related invoice. In the event that the invoice is fully paid, it will be closed.
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