Removing invoice overpayment fr AR Aging Report 1

[m1b2tran3]

Hi All,

I've overpmt on my subledger for several clients; and, I can't remove them from the Aging Report. Can't reverse them because it's very old and book it closed too. I've tried Tools-Routine-Sales-Paid Transaction removal, but doesn't work. Here how my aged trial balance look like:

Customer 115
Doc Num type date amount
Pymt0104 pmt 1/1/00 (700.00)

How can I clear this overpymt?

Thanks a bunch.....

 

[NEmacGuy]

I would think of this from the accounting side. If the client overpaid by $700 which now showing on your aging. Not only do you need to get it off of your aging, you also need an additional debit to your Accounts Receivable Account as it would have been credited from the cash receipt.
I would enter a debit memo in AR. Apply the overpayment to the debit memo. Then only issue is accounting again, where to post the debit memo to.

 

[m1b2tran3]

Thanks NEmacGuy,

This is like a CREDIT MEMOS, just the other way around. That is very helpful. Couple years ago when this overpmt was applied, they reconcile thru the General journal. But one great thing our company use is Offset clearing account. That way the entry would impact financial account.