I am having troubles when trying to apply a payment to a customer invoice. Quicken will not recogniz

For example, I deposit two checks in business checking totalling $1000.  One check for Customer X is $350 the other for Customer Y is $650.  I apply payment to unpaid customer invoices by selecting "form" and "apply payment"  The business checking account will then show a balance of $2000 instead of the correct $1000.  How do I get Quicken to recognize the $1000 deposit as money applied to both Customer's unpaid invoices?


  • Howard Roark
    Howard Roark Member ✭✭✭✭
    edited August 2016
    You should always apply payments to Quicken invoices *before* you accept the downloaded transaction(s) for those payments.

    You could then use Match Manually to match a single downloaded deposit transaction to multiple payment transactions already in the Quicken register.

    But, a better approach would be:

    1.) Create a Quicken intermediate account (checking or cash, probably). Call it "Undeposited funds", for example.
    2) When you apply a payment to an invoice in Quicken, tell Quicken to deposit the payment into the Undeposited Funds account
    3.) When you Accept the downloaded deposit transaction, categorize it as a transfer from the Undeposited Funds account.
  • RandyP
    RandyP Member ✭✭✭
    I know this is old, but it's not marked "answered" and it's not closed for discussion, so here goes . . .

    If the money/payment has already been deposited into the checking account, you just need to identify that deposit as being a payment for a specific invoice. Here is how to do that . . .

    1. In the checking account register, locate the deposit and select it.
    2. In the "Payee" column, enter the client's name as it appears on the invoice, or select their name from the drop-down list.
    2. In the "Category" column for that transaction, select the name of the account that contains the invoice.
    3. Press the "Enter" key to accept the change.
    4. Open the invoice account register and you should now see a "PMT" transaction being directed from the checking account to the invoice account.
    5. In the "Invoice #" column, enter the number of the invoice to which you want to apply the payment.
    6. Press the "Enter" key to accept the change.

    The payment should now be applied to the invoice and the invoice should disappear from the list of unpaid invoices.
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