NetSuite - Misapplied Payments when a payment is applied to the wrong ledger

Please note: Mis-Applied Payments should not be used to correct any other type of ledger issues (such as discounts, incentives, extra charges/credits, etc.). Please contact Concierge or your property accountant if you have questions about what item to use to correct a problem with a specific ledger. Follow the appropriate steps below according to your scenario.

Misapplied payment direction when a payment is applied to the wrong ledger: 

1. Log in to NetSuite and navigate to the wrong ledger (the customer who was incorrectly credited with another customer's payment).
   • You should see the incorrect payment credited to the ledger.
2. Click Add Charge
   1. Select the billing type as One Time
   2. Select Security Deposit as No
   3. Select Mis-Applied Payment as item
   4. Enter the amount that was incorrectly applied to the ledger.
   5. Enter a Remark, indicating the reason, payment number, site number and date.
      • Ex.You must include a remark indicating the reason, payment number, and date (example: “PMT67890 applied to ACA-123 on 4/1/24 and should have been ACA-456”).
3. Click Submit.
   
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4. Open the ledger of the customer to whom the payment should have been applied
5. Click Add Credit
   1. Select Mis-Applied Payment as the item type
   2. Enter the amount of the payment that should have been applied to the ledger. 
   3. Enter a Remark with the reason, payment number, site number and date. 
      • Ex. "PMT67890 applied on ACA-123 on 4/1/24 and should have been ACA-456"
6. Once done, click Submit.
   • 
7. Review the ledger for accuracy. Both ledgers should now reflect the correction. 

Please reply back to this email with specifics if you have any difficulty.  

Thank you,