Adjusting AR Invoice During Receipt Entry

Problem Details:

A receipt is received for an invoice, but is not the exact amount of the invoice.  It may be more or less than the invoice amount.



One solution is to do an Adjustment Entry for the invoice to increase or decrease the balance owing, and then then do a Receipt Entry to post the receipt.  However, this takes two steps.  We can do this all through the Receipt Entry screen in one step. 

First, go to AR Setup / Options and the Transactions tab.  Turn on the function to 'Allow Adjustments in Receipt Batches'. 

Now, when we go to a Receipt Entry, there is a button on the bottom of the screen labelled 'Adjust'.  In the example below, we have a short-payment of 0.24.

Clicking on the Adjust button pops up the adjustment screen.  You can reference the line items from the invoice, and this will populate the GL account field to be the same as the one on the invoice.  It is also possible to leave the 'Adjust Line' field blank and enter any GL account manually. 

Enter a debit to reduce the amount of the invoice and a credit amount to increase the amount of the invoice. Click Close to return to the Receipt Entry window.

Notice the Adjustment Amount and the new Net Balance.  Posting the Receipt Entry will create the receipt and the adjustment in one journal entry.  The AR account is credited by 845.24, sales is debited by 0.24, and the bank is debited by 845.00

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request


Powered by Zendesk