Xero Help/Discussion Thread

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Technofreak

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#293613 2-Feb-2022 12:42

I don't how many there are in my situation.

I use Xero a couple of times a month. Usually to try and sort out unusual/non standard situations that occur. Often it requires me hunting through the Xero online help system.

While the Xero online help works quite well I still end up with unanswered questions.

I wonder if a thread or even a dedicated section on Geekzone might be of use to Xero users on Geekzone.

To kick of the questions here is one I am trying to sort out.

An invoice was over paid. I've followed the steps for dealing with the over payment but it ends up showing in the customers account as money they owe the supplier rather than as I would expect of the supplier owing them money.

Any ideas?

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clinty

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#2860622 2-Feb-2022 12:58

Are you creating the over payment from the bank account reconciliation screen ?

And is this the customers Xero or the Suppliers Xero?

Clint

Technofreak

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#2860629 2-Feb-2022 13:29

clinty:

Are you creating the over payment from the bank account reconciliation screen ?

And is this the customers Xero or the Suppliers Xero?

Clint

Yep, created when reconciling a bank statement line on the suppliers Xero account. As per the Xero instructions which I've copied below using the "Receive Money" option.

An overpaid bill or invoice

Record and reconcile a payment for the amount of the bill you've received, or invoice you've sent. For the additional payment, create a new spend or receive money transaction as an overpayment.

In the Reconcile tab of your bank account, for the bank statement line you want to reconcile, click Find & Match.
Search for the overpaid bill or invoice, then select the transaction.

Click New Transaction, then select Spend Money or Receive Money, depending on whether the bank statement line is a withdrawal or deposit.

Next to Spent as or Received as, click Direct payment, then select Overpayment.

Enter the amount that's been overpaid. You can't change the Account or Tax Rate, as these fields are locked.
(Optional) If you've set up tracking for your organisation, select the Tracking Category for the overpayment.
Click Save Transaction, then click Reconcile.

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clinty

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#2860660 2-Feb-2022 14:11

That's how I do it when my customers "fat finger" the payment - haven't seen that.

Is the customer also a supplier?

Clint

Zeon

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#2860692 2-Feb-2022 15:09

We have highly customised chart of accounts in Xero so not sure of the default. If you overpay the supplier though you would record the overpayment as an asset account. This will then be a positive amount on your balance sheet as you will hold credit with the supplier. If you ask them for a statement it should some some positive balance there.

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Technofreak

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#2860693 2-Feb-2022 15:10

clinty: That's how I do it when my customers "fat finger" the payment - haven't seen that.

Is the customer also a supplier?

Clint

Ah ha, light bulb moment. Looking more closely at the customer report, instead of Xero showing the supplier owing the customer XXX it shows the customer owing -XXX to the supplier. In other words the credit is shown and an arse about face manner. Talk about confusing, Trev.

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