Credit Card Payment Adjustment

SUGGESTED

I am hoping someone can assist with this:

In a previous month, my office processed a credit card payment credit for a customer the month after the payment was received.  They did not void the payment in Business Works and that month was already reconciled.  Therefore, I am off by that amount when reconciling my account for the month the credit was given.    Also, the customer, has just paid the invoice via credit card, but we can not post that payment to their invoice, as our system thinks it is already paid. I know I can not void the original payment because that month has been reconciled.  How can I correct this? Or is my best option to let that month be off and it will work out when the new payment appears on our bank statement but wasn't put in Business Works?

Thanks so much,

Jill

  • 0
    SUGGESTED

    Jill-

    I may not be fully understanding the situation, but if a payment was posted incorrectly, then generally you should void it.  The BusinessWorks system does allow voiding a payment from a prior month, but it is an accounting decision on the date you want to post the void – in the previous month or current month.  Ideally, it is best to void using the same date it was originally posted, if that is possible.  If you are unable to post the void in the prior month because the month has been reconciled, then I would have some questions on how did it reconcile with the extra payment.

    I think your issue may be too complex to troubleshoot in this forum.  I think it would be better if you use the Live Chat from within the program to work directly with a support analyst for additional troubleshooting on this issue.

    Sincerely,

    Coleen

  • 0 in reply to Coleen Graber

    Hi Coleen,

    Thank you for the response.  It is a bit of a crazy situation. The credit card payment was processed in one month by the Credit Card Company and the bank and posted against the invoice. The credit was put through by my office with the credit card company the next month, but the payment was not voided in Business Works.   The credit was given in error, and the customer actually owed for the invoice. Now, into another month the customer has paid the amount they owed. The month we received the payment has been reconciled and everything matched up because the credit wasn't given until the following month.  Since the invoice is marked as paid in our system already, there is nothing to post the new payment to.  Therefore, I'm thinking our best bet is to let the one month that is off by the credit be off and it will work out when the new payment posts to the bank.

  • 0 in reply to jkrueger

    Are you using the SPS or PAYA CC processing?  If so - The best bet would be to create a charge and post to a suspense type account so you can reconcile first month.  Then create a CREDIT or DEPOSIT in CM and apply to the same account - Then you have something to clear in the bank rec to match the VOID and the RE-charge of their card.  If not using these systems you can void in the AR - Transactions - Void Receipts - A charge will appear in the Bank Rec and then you can Post the NEW CC Charge to the customer.