The Goal: Tell GrowthZone which revenue (A/R) and deposit accounts to use when recording an overpayment.
Before You Begin:
- You need permission to manage billing/finance settings.
- Decide which behavior you want: Record in default accounts (debits and credits the A/R and Deposit accounts set as default in your general billing settings) or Record in accounts tied to the overpaid invoice (legacy) (uses the A/R and Deposit accounts of the original invoice).
- Note: If the overpayment is NOT tied to an invoice, the Record in default accounts option is always used.
Step-by-Step Instructions
When an overpayment is received, the system needs to understand which revenue account and deposit account should be used in recording the payment. The Overpayment Accounting Transaction list on the General Billing Settings page offers two options:
- Record in default accounts: This option will debit and credit the A/R and Deposit accounts that you have selected as default on the General Billing Settings page under Finance, Administrative section, Billing Settings.
- Record in accounts tied to the overpaid invoice (legacy): This option will use the A/R and Deposit accounts of the original invoice. NOTE: If the overpayment is NOT tied to an invoice, the Record in default accounts option is used.
- Go to Finance, Administrative section, click Billing Settings and select General Billing Settings.
- In the Overpayment Accounting Transaction list, select the option you wish to use.
- Click Save to finalize your changes.
Common Pitfalls
- Assuming the legacy option always applies: If an overpayment is not tied to an invoice, GrowthZone falls back to the Record in default accounts option regardless of your selection — so make sure your default A/R and Deposit accounts are set correctly in your general billing settings.