Writing Off Customer Overpayments

Go to Transactions > Financial > Make Journal Entries.

In the Primary Information section:

1. In the Entry No. field, accept the default or enter a different number.

   If journal entries are assigned autogenerated numbers in your account, you cannot change the defaults unless the Allow Override box is checked for Journal. Go to Setup > Company > Auto-Generated Numbers > Document Numbers subtab. 

2. If you use NetSuite OneWorld, select a subsidiary to associate with this journal entry.

   The journal posts to this subsidiary and only entities associated with the subsidiary can view the entry.

3. If the Multiple Currencies feature is enabled, review the value in the Currency and Exchange Rate fields and edit as necessary.

   If you use NetSuite OneWorld, by default the Currency field displays the base currency of the subsidiary selected in the Subsidiary field.

4. If you have journal approval permission, check the Approved box to approve your journal entry. If you do not check this box, this entry does not post until it is approved.

   Important: 

   The Approved box displays only if the Require Approvals on Journal Entries accounting preference is enabled at Setup > Accounting > Accounting Preferences > General subtab. The Approved box does not display if you have enabled the Journal Entries approval routing accounting preference. This preference enables you to use SuiteFlow to create a custom journal entry approval routing workflow. 

5. Accept or enter a date in the Date field.

6. If you use fiscal periods, you see a Posting Period field.

   The posting period is determined when the journal entry is approved. When you approve a journal entry, you can select a different value than the one initially displayed. You cannot select a closed period. You may be able to select an open and locked period if your role includes the Override Period Restrictions permission.

On the Lines subtab:

1. In the Account field, enter or select your Accounts Receivable account.

2. In the Debit field, enter the amount of the overpayment from the invoice.

3. In the Name field, select the name of the customer with whom this overpayment is associated.

4. Enter other information on this line item as necessary.

5. Click Add.

   Tip: When line details are similar, click Copy Previous and then make modifications as required.

6. In the Account field, enter or select your Miscellaneous Income account or your preferred income account.

7. In the Credit field, enter the amount of the overpayment from the invoice.

   Note that this amount must match the amount you entered on the previous line.

8. Enter other information on this line item as necessary.

9. Click Add.

Verify that the Out of Balance By Debit and Credit fields are empty.

You cannot save a journal entry that is out of balance.

Verify that the amounts entered in the Debit and Credit fields are the exact amount of the invoice.

Click Save.

Go to Transactions > Customers > Accept Customer Payment.

In the Customer field, enter or select the customer to which the journal entry should be applied.

In the A/R Account field, enter or select the appropriate settlement account.

Complete the remaining fields as required.

On the Credit subtab of the Apply subtab, check the Apply box for the customer overpayment.

On the Invoices subtab of the Apply subtab, check the Apply box for the journal entry you created for this overpayment.

Click Save.