How to Deal with an Overpayment of Finance When a Deal Is Closed

This guide explains what to do when a finance overpayment is received after a deal has already been closed in Navigator.
Once a deal is closed, it should not be re-opened to make financial adjustments.

Why This Matters

Re-opening closed deals can cause discrepancies in accounting records and affect historical reporting.
Using a journal entry ensures the overpayment is handled correctly without changing the integrity of the closed deal.

Recommended Action

If a finance overpayment has been received after the deal was closed:

1. Do not re-open the deal.
   The deal must remain closed to preserve accurate sales and financial history.

2. Journal the overpayment out of the cashbook.
   Create a journal entry to move the overpaid amount from the cashbook to an appropriate holding or control account of your choice.

3. Select a suitable nominal account.
   Choose an internal account agreed by your accounts team, such as:

   • Finance Overpayments

   • Miscellaneous Receipts

   • Suspense Account

4. Record the reason clearly.
   Add a reference or note in the journal to explain the transaction source (e.g. “Finance overpayment for closed deal [Deal Number]”).