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    dsanderson1's Avatar
    dsanderson1 Posts: 1, Reputation: 1
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    #1

    May 3, 2013, 10:05 AM
    How would I account for an overpayment in a previous yr?
    A customer overpaid tuition in 2012. What expense account would I use when issuing a refund check? What journal entry would need to be made?

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    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    May 5, 2013, 07:24 PM
    Such things are called prior year adjustments
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