• From: USA
  • Registered: 02/05/2018
  • Posts: 37

Topic: Customer Balance

A given customer has a credit balance showing on the account.  This is due to too many customer payments being recorded (I believe).  There should be an amount of $3.93 still owed by the customer. 

How do I remove payments so as to correct the credit balance to reflect the $3.93 that is actually owed?

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Customer Balance

Pass a Journal (Adjustment) entry.

DEBIT entire credit balance less the actuals $3.93 as an adjustment entry and CREDIT the Petty cash account (or Bank Account) into which you generally receive such payments from the said customer and make sure you make up for the cash (bank) difference from your pocket!

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