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Showing posts from November, 2020

Can you keep customer overpayments in your business?

  Your bookkeeping services in California have been tidying your records and found that there are overpayments on some customer accounts. Some of these overpayments go back years. If this is the case, can you keep the money? Account imbalance Imagine a case when one of your subscribers pays you excess money for the services offered. Do you consider it theft or not? The first thing you should keep in mind is whether it would be considered as theft if you fail to return the money to the customer. There is no simple answer to this but as a rule, it will not be theft as long as there was no dishonesty involved, for example, when you hide the overpayment. Until a bookkeeper uncovers the overpayment, business owners will not be aware of the overpayment. This will make it hard for anyone to argue that it was theft. Make a review Before you reach for the company checkbook, you should let your bookkeeping services to confirm the balance on the account with the customer. This is