Overpaid by agency? :-)

[psychocandy]

Now this is a first for me. Usually its the other way round !!!!! Not a huge amount just a day.

Anyone else ever have this?

Keep it and wait till they ask for it back? Then again I guess it might be a bit complicated accounts-wise since invoice total wont match income (although saying that its in euros and invoice total (sterling equiv) never exactly matches what ends up in my sterling account)

[TestMangler]

Now this is a first for me. Usually its the other way round !!!!! Not a huge amount just a day.

Anyone else ever have this?

Keep it and wait till they ask for it back? Then again I guess it might be a bit complicated accounts-wise since invoice total wont match income (although saying that its in euros and invoice total (sterling equiv) never exactly matches what ends up in my sterling account)

[psychocandy]

I take it that means you'd keep it? It was a serious question by me. Perhaps I'm just too honest!

[TestMangler]

I take it that means you'd keep it? It was a serious question by me. Perhaps I'm just too honest!

Seriously, what do YOU think is the correct thing to do here ?

[stek]

Are you a business or a con artist?

Give it back, they'll find out and then you'll look bad for trying to hang on to it.

[JamJarST]

Dude, you are not being helpful. Give psychocandy the benefit of the doubt before taking the mick.

Psychocandy, personally I would contact the Agency and inform them of the error and arrange to refund the money.

[psychocandy]

To be honest, that's what I'm inclined to do. Just checking if I was being dull or something here!

[lje]

I have been overpaid my my client in the past too. I credited the money against the next invoice. Have a chat with the agency and see what they would prefer to do.

You can't account for this and so you can't keep it (morally you shouldn't keep it anyway IMHO).

[ASB]

To be honest, that's what I'm inclined to do. Just checking if I was being dull or something here!

Account for it as an overpayment, no problem at all with that. Will show a credit balance in the accounts receivable.

It would be polite to send the customer a remittance advice or statement showing their current account balance since it will look something like:-

30/6 Invoice 10,000 Euro
30/7 Invoice 10,000 Euro
05/8 Payment Received 10,500 Euro
12/8 Statement balance 9,500 Euro

This way in theory they will reduce the next payment to 9500 Euro.

Don't know if you have a euro account but I never did. I wouldn't return the overpayment just ensure they do know about it. Returning the overpayment is likely to end up more difficult given fluctuating exchanges rates etc.

You can't issue a credit, otherwise you will find your AR is all wrong.

[contractoralan]

Very simple.
Consider a scenario. You go to a local newsagent and pay cash. When he gives back the balance, if he gives an extra pound, what will you do ? Keep it ?

If you will keep it, then in your described situation,don't let the agent know but think of how you will handle the excess in your accounts.

If you will return it, then in your described situation, let the agency know and work out how best to resolve the difference. Make sure you do not loose any money in exchange or bank fee or whatever. It was their mistake, so they have to take the hit. If they refuse to, then charge them an admin fee.

It is generally accepted that keeping other people's money is not moral. Your morals don't have to match the general view. Each on their own. There is no hard and fast rule.