You have an option in QuickBooks Desktop accounting software to offset the overpayment received with the outstanding invoices via set credit feature or refund customer the overpaid amount.

You get an error of ‘Receipt amount exceeds amounts allocated to invoices’ when try applying an overpayment to a foreign currency invoice. You have to use dummy invoices to transit the additional amount received between the Overpayment Received and the Accounts Receivable account.