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Write Off Overpayment

Recently I inherited this situ. In the process of cleaning up and getting the accounts under control, I found a payment to a vendor account that was overpaid by $.20 about a year and a half ago. Because the amount is so small and the time to correct this with the vendor is long past the simplest situ now may be to just write it off. So far I have not been able to find a way to write this off. Would anyone know how to accomplish this? All ideas and comments will be greatly appreciated. Thanks, K.

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kthr33
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General Journal Entry: debit bank charges or some other expense, credit accounts payable (Vendor's name). Then Pay Bills - select the Journal Entry and apply the overpayment to it.

Because

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!-!

Enter a bill from that vendor for .20 and pick the miscellaneous or similar account to distribute it to. Use pay bills / set the .20 credit to pay the .20 bill.

kthr33 wrote:

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none

Make a journal entry debiting 'Discount Allowed' and crediting 'Accounts Receivable' by $0.20 and select the name of the customer in the Name column. Now go to 'Pay Bills' window, select the transaction having $0.20 and click on 'Set Credits'.

Victor

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myQBaccountant

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kthr33

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