Overpayments occur when a customer pays more than the amount due on an invoice. PRO Software automatically tracks these overpayments as Unapplied Cash, which can be managed and applied correctly to future transactions.
Steps to Register an Overpayment
- Navigate to Accounting
- From the main dashboard, select Accounting.
- Select a Customer with an Open Invoice
- Choose the customer who has made an overpayment.
- Click Register Payment.
- Verify Auto-Filled Payment Amount
- PRO Software auto-fills the amount due based on the selected invoice(s).
- If the customer overpays, you must manually adjust the amount.
- Confirm the Overpayment
- The system will automatically display the overpaid amount.
Applying the Overpayment
- Complete Payment Details
- Fill out the payment method details (e.g., Check, ACH, Credit Card).
- Ensure all required fields are completed.
- Validate the Payment
- Click Validate to confirm the transaction.
📌 Note: Be sure to select the correct Payment Journal, which reflects how the payment was received.
Where to Find Unapplied Cash
- Customer Account View:
- Unapplied cash appears in the Due Box.
- Customer Ledger View:
- The overpayment is recorded in the Customer (Partner) Ledger.
📌 Tip: Unapplied Cash can be used to offset future invoices or refunded based on your company's policies.
Final Thoughts
Handling overpayments properly in PRO Software ensures accurate financial records and better customer account management. By tracking Unapplied Cash, businesses can prevent billing errors and apply payments efficiently.