NetSuite - Misapplied payment when payment applies is incorrect amount

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 when payment applies is incorrect amount

1. Log in to NetSuite and navigate to the ledger of the customer whose payment was applied for the wrong amount.
2. Verify the amount that was actually deposited by the bank and determine whether you need to increase or decrease the amount reflected on the ledger.
3. To increase the amount of payment applied, click Add Credit and complete the Add Credit popup
   • Select Mis-Applied Payment as the item
   • Enter the amount that must be added to the ledger to reflect what was actually deposited in the bank.
   • In the Memo, indicate the reason, payment number, and date
     • example: “Payment amount wrong – PMT12345 from 4/1/24"
   • Click Submit.
   • ​
4. To decrease the amount of payment applied, click Add Charge
   • Select the billing type as One Time,
   • Select Security Deposit as No,
   • Select Mis-Applied Payment for the item
   • Enter the amount that must be subtracted from the ledger to reflect what was actually deposited in the bank. 
   • In the Memo, indicate the reason, payment number, and date
     • example: “Payment amount wrong – PMT12345 from 4/1/24”
   • Click Submit.
   • ​
5. Review the ledger for accuracy.

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

Thank you,