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negative balances on receivables due to overpayment of customers
06-05-2013, 03:58 PM
Post: #1
negative balances on receivables due to overpayment of customers
good day!

What am I going to do with the negative balances of customers arising from currency exchange resulting to overpayment of customers?

Hope I can find the answers here.
Thank you....
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06-05-2013, 08:50 PM
Post: #2
RE: negative balances on receivables due to overpayment of customers
Are the receipts entered in the currency of the customer?
Have you allocated the receipts of money against the invoices... this should take the exchange difference to the GL profit/loss on exchange

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
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06-05-2013, 10:45 PM
Post: #3
RE: negative balances on receivables due to overpayment of customers
yes, I have entered it based on the currency of the customer. As i allocate the receipts, I cannot process it because the collection was greater than the invoice amount.
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06-06-2013, 04:52 AM
Post: #4
RE: negative balances on receivables due to overpayment of customers
so the crredit balance was not because of exchange diffs?
You must process a negatiive receipt or innvoice to clear

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
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06-08-2013, 07:21 PM
Post: #5
RE: negative balances on receivables due to overpayment of customers
ok, thank you... If ever i clear the amounts of receivables regarding negative balances, do i have to make journal entry for the overpayment of customers?
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