There are two instances where allocating a negative payment may be indicated:
When transitioning to Bookem, you might need to transfer clients' account balances from your previous system, which could include negative opening balances.
It is also necessary when processing refunds for clients who have paid for a service, product, or event, which is a negative amount.
Opening balance amounts should only be allocated using a payment method called Opening Balance.
Follow these steps:
1. Go to Settings > Payments & Invoicing > Payment methods
2. Click '+New payment method' in the top right corner and select 'Other'
3. Add a new payment method called Opening Balance
4. Now, create an opening balance for a client by navigating to the client's profile
5. In the client profile, navigate to the 'Account' tab'
2. Click '+Create a payment'
3. Now, complete the payment date and (negative) received amount fields, and then select the 'Opening Balance' payment method
4. Click 'Save'
NB: Do NOT modify the invoiced amount on invoice line items. Adjustments should only be made through payments as debits or credits to the client's account to ensure accurate income and tax calculations.
Learn more about applying an opening balance payment to an outstanding invoice here.
After your client has paid their invoice, void the invoice to convert the payment into a credit. This credit can then be offset by a negative payment.
1. First, you'll need to set up a new payment method called inSettings > Payments & Invoicing > Payment methods
2. Click '+New payment method' in the top right corner and select 'Other'
3. Add a new payment method called 'Refund'
4. Now, find and open the invoice you need to void in Accounts > Invoices
5. Turn the payment into credit by marking the invoice as 'Void' and click 'Save'
6. Now, go to the client profile and navigate to the 'Account' tab
7. Click '+Create a payment'
8. Complete the payment date and (negative) received amount fields, and then select the 'Refund' payment method
9. Click 'Save'
You should now have two payments of the same amount, one positive (from the voided invoice) and one negative reflecting the payment and the refund.
NB: Negative payments should NOT directly be allocated to invoices, and only added as payments to ensure accurate income and tax calculations.