How to Apply Overpayment in Xero When Receiving Money

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It is very easy to apply overpayment in Xero when receiving money. Here’s a quick guide on how to do it:

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1. On Xero's main dashboard, go to the top menu bar and click 'Create New'.
2. Choose 'Receive Money' from the list of options.
3. After that, select the bank account you wish to use and then tap 'Next'.
4. Click the drop-down menu next to 'Received As'.
5. Subsequently, select 'Overpayment'.
6. Fill out the input fields with the required information related to accounts receivable.
7. Once done, click 'Save'.
8. After completing these steps, an overpayment will be applied to your receive-money transaction.