Overpaid

[kellycell]

Hello,
I was doing my year end accounts and figured out that my previous company overpaid me by a few thousand.
So I put those thousand into my company xls that my accountant uses for preparing the end of year accounts. There is no invoice though associated to this payment. My accountant is enquiring on this item.
What do I do? Do I not remove it from my company xls? Do I make up an invoice for the amount?

thank you

[TykeMerc]

If by previous company you mean client then you should give it back. Odds are they will find their error when they reconcile their accounts and ask for it back. Spending it or making a false invoice would be unwise.

[Spacecadet]

Before you turn honest and hand the money back...
Go through all the original invoices you sent to the client (either printouts or the emails stored in your sent items email folder) and make absolutely sure they had over paid you, if in doubt get your accountant to double check.

You may have entered something wrong in your accountants spreadsheet which now, when the accountant is try to reconcile accounts, makes it look like an over payment has been made.

[d000hg]

Definitely double-check, it's very easy to transpose digits if you EVER manually enter amounts into a spreadsheet... or even to put the wrong value on an invoice total but not the subtotals, and the client figures it out.

If you still can't get the numbers to add up, contact the client and ask them to check their end, before you do anything else.

[TykeMerc]

I admit when I made my post I had made the assumption that Kellycell had checked thoroughly that it was additional to any issued invoices, possibly a bit of a daft assumption.

[BlasterBates]

Whatever you do, don't "make things up".

Just sort it out.

If the accountant heard you were "making things up" he'd dump you like a hot potato.

[Clare@InTouch]

Tell your accountant exactly what it is, and they will add it into your accounts as a creditor - money your company owes someone else. Also do as suggested above and go thorugh your invoices to check it, and contact the client.

[oversteer]

I got paid £5,500 twice in one month not long after I started my first contract.

Took them 8 months to notice..