Overpaying Account?

[JeromeKoehn]

Had a customer over pay on his account ($10.46) I know to find this you goo to "customer with credit on account" it shows up there, and when you use "F5" it shows the credit of $10.46 here to. What I would like to see is this amount shown on the "Accounts Receivable Aging Summary". I run this report every night, and to check if totals are right I take the previous days balance and add on total "Daily Posted Charges" less paid on account and this should match the "A/R Aging Summary. (Example previous days balance from A/R aging summary 100.00 + Daily posted charges 50.00
- received on account 30.00. 100+50-30= 120) With this example and the overpayment of $10.46 my balance on the report is 120.00 where it is actually 120.00 - 10.46 = 109.54. My question is how other shops handle this? To me this is just another way to check and balance. Any comments? Thanks

[ricmorin]

I wouldn't expect to see credits on an AR report. Credits aren't receivables. I'd suggest running the Customers with Credit report.

[JeromeKoehn]

Ric: I agree credits are not receivables, in the accounting world they are considered deferred revenue. But to make things easy it would be nice to see the credit show up on the "Aging Report" as a negative balance, chances are the customer will be back and use this credit up on his net service. Or do you cut a check out to each customer that overpays and mail it to them? That way your A/R are going to agree with the A/R report... but that is a lot of extra headache. I've visited with other business and all I've talked to leave the credit on the "books" and it shows on there A/R report as a credit. If you talk to accountants they don't like this way (credits are not receivables they are deferred revenue) I don't want to set up a whole new bunch of accounts to make the accountant happy plus Mitchell is not set up to do this. So I'm wondering what other people are doing with this issue. Thanks and hope to get some feedback jerome