overpayments
More than owed
Overpayments are amounts paid beyond what was owed or required.
The term appears most often in bureaucratic and financial contexts—tax overpayments that generate refunds, benefit overpayments that agencies try to recoup, or billing errors that result in credits: The IRS will apply overpayments to next year's taxes.
An overpayment can also describe paying more than something is worth: The acquisition looks like an overpayment in hindsight.
Error in estimation
- discrepancyDifference between expected and actual
- overchargeDemand excessive payment
- clerical errorOffice documentation mistake
- processing errorFailure during data handling
Money returned after purchase
- rebateReturned portion of payment
- reimbursementPayment for incurred expenses
- recoupmentRecovery of losses
- clawbackContractual fund recovery
recovery · restitution · payback · offset · credit · adjustment · return · compensation
Formal accounts examination
- reviewCritical written assessment
- reconciliationRestoration of friendly relations
- verificationProving something accurate
- monitoringOngoing observation of something
compliance · inspection · scrutiny · oversight · quality assurance · internal controls · due diligence · fraud detection
Legal or financial obligation
- arrearsOverdue financial obligations
- outstanding balanceSum still due
- receivableAwaiting payment
- delinquencyCriminal or neglectful behavior
collections · default · obligation · creditor · debtor · balance due · accounts receivable · write-off
Amount exceeding requirement
- overageAmount beyond expected
- overfundingExceeding financial goals
- redundancyNeedless duplication
- duplicationMaking an identical copy
miscalculation
Error in estimation
- discrepancyDifference between expected and actual
- overchargeDemand excessive payment
- clerical errorOffice documentation mistake
processing error · double billing · calculation error · administrative error
refund
Money returned after purchase
- rebateReturned portion of payment
- reimbursementPayment for incurred expenses
- recoupmentRecovery of losses
clawback · recovery · restitution · payback · offset · credit · adjustment · return · compensation · writeoff
audit
Formal accounts examination
- reviewCritical written assessment
- reconciliationRestoration of friendly relations
- verificationProving something accurate
monitoring · compliance · inspection · scrutiny · oversight · quality assurance · internal controls · due diligence · fraud detection · cross-checking
liability
Legal or financial obligation
- arrearsOverdue financial obligations
- outstanding balanceSum still due
- receivableAwaiting payment
delinquency · collections · default · obligation · creditor · debtor · balance due · accounts receivable · write-off · bad debt
surplus
Amount exceeding requirement
- overageAmount beyond expected
- overfundingExceeding financial goals
- redundancyNeedless duplication
- Social SecuritySSN, FICA, Social Security Administration, disability benefits, retirement benefits
overpaymentsunderpayments
Amounts below what's owed
shortfalls · underpays · arrears · nonpayments · defaults
overpaymentsunderpayments
Amounts below what's owed
shortfalls · shortages · deficits · receivables · debits