Invoice problem (unpaid invoice is actually paid)

Hester

Hi

I created an invoice for R525, the client short paid by R70.
This amount I manually added onto the next month's invoice which the client paid fully, thus leaving the previous invoice Unpaid.

So now I have an invoice showing Unpaid, whereas in fact, the client has paid it now.
How should I handle this, please?

Alexia

Hi, @Hester.

Because Wave operates primarily in accrual-basis, handling back-payments like this can have a serious effect on the income in your reports. In accrual-based accounting, income is created at invoice creation, not when you get paid. Moving payment to the next invoice in this way will look like this in Wave:

• You create an invoice for R525. Your total income is now R525
• Your client pays R455. According to Wave, this does not change your income, The missing R70 is still yours, it's just not in your pocket.
• You create a second invoice for R525 but add the extra R70 on top. Your total income is now R1120.

Your income as recorded in Wave should be R1050, but you end up with an extra R70 that you won't be paid for.

What you will have to do instead is to invoice for the regular amount for both invoices. When you receive your payment for the second invoice, add it on the Transactions page and use the "Split this transaction" button to separate the rest of the payment for the first invoice, and the payment for the second invoice.

Categorize both of sides of that transaction as "Payment for an Invoice in Wave" and choose the appropriate invoice for each.

Let me know if you need more help doing this, or if you run into any issues.