By Amir Dabiri - October 26, 2012
Recently I was asked from numerous customers how they should handle payoffs that are more than the current payoff. Typically I tell customers that they can split the payment up into 2, one being the payoff and then applying the rest to some other liability account. However we also have an over payment features in Dealpack that allows you to take an overpayment as long as you have a G/L control setup in your parameters. Just enter what liability account you want and you are good to go.
Ex. Customer owes you $4998 and the check from the insurance company or bank is for $5010, when you enter the $5010 it will ask your if you wish to apply the $12 as an overpayment. So know you have one receipt to enter for the customer of $5010. To refund the customers the difference in this case $12 just go into check writer and check the box labeled customer refund. You will see that customers name and you can cut a check to him/her.
Call Dealpack Support if you need help setting this feature up and step by step instructions.
ABCoA is a Software-as-a-Service company dedicated to the subprime industry. Our cloud-native ecosystem handles every part of business operations - improving productivity, security and accuracy, while consolidating vendors and reducing costs.
Since 1983, ABCoA has helped buy here pay here used car dealerships and subprime finance companies eliminate duplication, remain compliant, and achieve success with complete, customer-driven software and dependable support. Customers properly using Deal Pack have never lost an IRS audit.
Recently awarded Top Online Accounting Software for Deal Pack, ABCoA continuously elevates the standard for software in the subprime industry and helps customers grow through our commitment to quality, innovation, and service. Headquartered in Jacksonville, Florida with employees across four states, we remain family-owned and operated.
To learn more about ABCoA, visit www.abcoa.com.
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