• From: UK
  • Registered: 03/05/2013
  • Posts: 47

Topic: How to correct an incorrect payment?

Hi,

We have two bank accounts - a general current account and a current account which is linked to our payment cards.

Our admin has marked an invoice as having been paid from the general current account - when it was actually paid by the card account.

What is the best way to correct this - should we void the transaction?  Or should we create a credit note - mark the payment from the general account and then add a new invoice?

Regards,

Kevin B

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

Re: How to correct an incorrect payment?

Void the payment and create a new payment will have a proper record of the error and it's correction - that is the right way accounts should be maintained.

Correcting it in the database should be done carefully after backup and browser cache should be eliminated - logout and login again - so that there is no bad session variable lurking to trip us.

apmuthu's Website

  • elax
  • Senior Member
  • Offline
  • From: UK
  • Registered: 05/17/2011
  • Posts: 326

Re: How to correct an incorrect payment?

Other option is to do a bank transfer from card account to the bank. It gives a bit of extra work while doing the bank reconciliation but makes things more trackable (you are not deleting everything).

Also, when I void the transaction and reenter the payment for the correct account, I sometimes (often in fact) forget to set the original payment date, resulting in having to void this transaction again ....


/Elax