How can an agent rectify a wrong payment claim or settlement?

How can an agent rectify a wrong payment claim or settlement?

⚡Quick answer

• Wrong Payment Claim → Verify if the payment is settled. If not settled, raise a Zoho ticket to un-claim it; Accounts will resolve within 48 working hours, after which the correct agent can claim and settle.

• Wrong Payment Settlement → Two paths:

A) Ask the client to repay the amount, then inform Accounts for correct settlement.

B) Initiate a refund to issue a debit note and obtain an NOC; Accounts will create a new prepayment to adjust the amount in the correct client account.

When should I use this guide?

Use these steps whenever you discover that a payment was claimed or settled under the wrong agent or client account, so you can correct the ledger without compliance issues.



Overview

In cases where an agent has incorrectly claimed or settled a payment, the following process should be followed.



Scenario 1 — Wrong Payment Claim

  1. Verify whether the payment has been settled.
  2. If not settled, raise a ticket in Zoho to unclaim the payment.
  3. The Accounts team will process the request within 48 working hours, after which the correct agent can claim and settle the payment.


Scenario 2 — Wrong Payment Settlement

If a payment is settled in the wrong client account, it can be rectified through either of the following methods.

Option

Action

Required from the client

Follow-up by the Accounts Team

A

Request the client to repay the incorrectly settled amount.

Repayment of the amount

Inform the Accounts team once the payment is received to enable correct settlement.

B

Initiate a refund process to issue a debit note.

• Signed Debit Note (proof of service reversal) 

• NOC on company letterhead stating the amount does not belong to them and no refund is required

Upon receipt of the signed debit note and NOC, the Accounts team will create a new prepayment to adjust the amount in the correct client account.