Balance transfer from one invoice to another

GMT

A client underpaid one invoice, but then he paid extra on next invoice
The amount he paid extra not only covers the balance from first invoice, but also it covers a pre-payment for his next order.
How to transfer the extra amount from second invoice to first, and remove the PAST DUE mark from the first one?
Where/What category to enter the extra amount (pre-payment on next order)?
Thanks

Samd

Hey @GMT, if the payment was done outside of Wave, you should be able to simply split the one bulk payment and apply it across the other invoices.

If it was a Payments by Wave, in that case to close out the initial, underpaid invoice, you'll want to head over to it, select edit, and then create a new line item for the invoice. You can call this "Overpayment on Invoice #" or something similar, and then enter a negative value as the price equaling the remainder of what is owed. This will close out this first underpaid invoice as paid off (essentially you're discounting it into closing by the amount on the other invoice, as unfortunately there isn't a direct way to edit a Payments by Wave payment).

You're then going to want to do the same thing for the pre-payment he's making on the next invoice. If you haven't generated that one yet, you can essentially hold the overage in an account until which time you want to 'discount' the prepayment from the total of the next invoice. You can do that by following the instructions here: https://support.waveapps.com/hc/en-us/articles/360000278846-Accounting-for-overpayments

GMT

Hi Samd …. thanks for your input. Vey helpful!

AMarie

Thank you so much @Samd this was very helpful!!!