How to Manage Credit Card Sales With a Third-party Credit Card Processor How to Manage Credit Card Sales With QuickBooks Payments
How to Reconcile Business Credit Card Accounts How to Manage Downloaded Business Credit Card Transactions How to Enter Business Credit Card Transactions Manually Part 5: Managing Business Credit Card Transactions How to Handle Bounced Checks From Customers How to Transfer Funds Between Bank Accounts How to Manage Downloaded Banking Transactions How to Enter Banking Transactions Manually How to Set Up the Products and Services List How to Set Up Invoices, Sales Receipts & Estimates To make sure you are prepared for tax time, these items should be discussed with your CPA and/or your outsourced bookkeeping professional.How to Customize Invoices, Sales Receipts & Estimates In this case, there are a few other things to consider regarding how QuickBooks will handle the deposit made in advance and also when the revenue will be recognized. Once you do this, your unmatched items will no longer display on your A/R reports. Next, check off the invoice that this payment applies to (in the screenshot above, you’ll see I checked the invoice in the row highlighted in green). To do this, double-click on the payment to pull up the payment screen, as shown in the screenshot below: Once you do this, they will net to zero and will be removed from your open invoice listing.
In order to correct this, you need to tell the software that the payment and invoice are matched to each other. The invoice was created after the fact.Īllard is now appearing in the Open Invoices report and clearly shouldn’t be. In the following screen shot, you’ll see an example of a client (Allard) who paid for their project in advance. However, in many instances, the timing of posting payments and creating invoices can leave a QuickBooks file with items that have a zero balance. How To Clean Up Accounts Receivable in QuickBooks?Įver scratch your head while looking at a journal entry made by your CPA, especially one that leaves items unmatched within your A/R ledger? You may see a corresponding invoice and payment in the A/R ledger that net to a “zero” balance, so why are they even sitting there on an A/R report? Shouldn’t they cancel each other out? Here’s the deal…Īs our clients create invoices and post payments to their data files, they can usually handle the basic functions needed to keep their Accounts Receivables in order.