There are some scenarios wherein the payment amount doesnt match the invoice that we are allocating it to.
Here are some of the most common scenarios and what you need to do when you encounter them
OVER/SHORT PAYMENT - when the customer paid more/less than the invoice amount
Possible scenarios:
The customer paid another invoice that wasnt indicated or wrote down a different invoice number
The customer made a typo error upon paying
The customer was quoted a different amount by the salesperson
The customer needs to be refunded/pay more
WHAT TO DO:
Create a ticket and assign to the person doing the banking issue task to sort. The ticket will only be returned to the person doing banking once sorted. Follow this format
xCUSTOMER NAME IN PINNACLEx - BANKING ISSUE
Amount $XXX - paid xPAYMENT METHODx
Issue – short/overpayment on invoice xINVOICE NUMBERx of x$AMOUNTx
Action so far - Payment entered in Pinnacle and left unallocated
Action Required – Need to check with salesman why the customer short/overpaid
PAYMENT FOR MULTIPLE INVOICES - when the customer paid for multiple invoices but didn’t indicate which invoices they are paying for. The key here is to NEVER ASSUME because we would like to match our records with the customer’s records
Possible scenarios:
They are not paying monthly invoice fully (e.g 3 invoices for March and 1 invoice for April)
They are paying for multiple locations
WHAT TO DO:
Create a ticket and assign to the person doing the banking issue task to sort. The ticket will only be returned to the person doing banking once sorted. Follow this format
xCUSTOMER NAME IN PINNACLEx - BANKING ISSUE
Amount $XXX - paid xPAYMENT METHODx
Issue – payment for multiple invoices
Action so far - Payment entered in Pinnacle and left unallocated
Action Required – Ask for a remittance from the customer so we can allocate payments accordingly
CREDITED - when the invoice was credited but the customer made payments
Possible scenarios:
Money will be refunded back to the customer
There is a replacement invoice
WHAT TO DO:
Create a ticket and assign to the person doing the banking issue task to sort. The ticket will only be returned to the person doing banking once sorted. Follow this format
xCUSTOMER NAME IN PINNACLEx - BANKING ISSUE
Amount $XXX - paid xPAYMENT METHODx
Issue – invoice has been credited
Action so far - Payment entered in Pinnacle and left unallocated
Action Required – Need to check with salesman if payment is to be refunded or if there is a replacement invoice
Other scenarios may arise as you do this task but the person doing the banking is not the one to sort it as it might require emailing/calling the salesperson/customer.
Just create a banking ticket and leave the issue to be sorted by the banking issue assign person.