Home&Business:accepting an invoice payment
Comments
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How did you set up this LOC account in Quicken?
AFAIK, it should be set up as a credit card account, not an asset account and especially NOT a loan account.By the way, do you sometimes receive more than 1 check per day to deposit?
Intermediate deposit account for H&B:
When you receive
multiple payments by check per day but only make one summary deposit to your
bank each day ...- Create a cash (or
manual checking [*]) account, named something like "Checks to
Deposit" with an Opening Balance of $0.00- When filling out
the New Customer Payment form, deposit the check to "Checks to
Deposit" instead of your regular bank checking account.- At the end of the
day, tally up all checks on your deposit slip. In Quicken, in the "Checks
to Deposit" account make a transfer transaction "Daily Deposits"
in the amount of your deposit slip. Put the amount into the Payment column. As
category choose your checking account, surrounded by [square brackets], e.g.
[ABC Bank Checking]. Verify that this reduces the balance in the "Checks
to Deposit" account back to zero (or you have made a mistake somewhere
along the way).
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My LOC account is a Credit account. That appears to be the problem, I can't make the Invoice payment to any of my credit cards (none appear in the drop down list).0
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Try using the intermediate holding account process described above.UKR said:How did you set up this LOC account in Quicken?
AFAIK, it should be set up as a credit card account, not an asset account and especially NOT a loan account.By the way, do you sometimes receive more than 1 check per day to deposit?
Intermediate deposit account for H&B:
When you receive
multiple payments by check per day but only make one summary deposit to your
bank each day ...- Create a cash (or
manual checking [*]) account, named something like "Checks to
Deposit" with an Opening Balance of $0.00- When filling out
the New Customer Payment form, deposit the check to "Checks to
Deposit" instead of your regular bank checking account.- At the end of the
day, tally up all checks on your deposit slip. In Quicken, in the "Checks
to Deposit" account make a transfer transaction "Daily Deposits"
in the amount of your deposit slip. Put the amount into the Payment column. As
category choose your checking account, surrounded by [square brackets], e.g.
[ABC Bank Checking]. Verify that this reduces the balance in the "Checks
to Deposit" account back to zero (or you have made a mistake somewhere
along the way).
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UKR said:
How did you set up this LOC account in Quicken?
AFAIK, it should be set up as a credit card account, not an asset account and especially NOT a loan account.By the way, do you sometimes receive more than 1 check per day to deposit?
Intermediate deposit account for H&B:
When you receive
multiple payments by check per day but only make one summary deposit to your
bank each day ...- Create a cash (or
manual checking [*]) account, named something like "Checks to
Deposit" with an Opening Balance of $0.00- When filling out
the New Customer Payment form, deposit the check to "Checks to
Deposit" instead of your regular bank checking account.- At the end of the
day, tally up all checks on your deposit slip. In Quicken, in the "Checks
to Deposit" account make a transfer transaction "Daily Deposits"
in the amount of your deposit slip. Put the amount into the Payment column. As
category choose your checking account, surrounded by [square brackets], e.g.
[ABC Bank Checking]. Verify that this reduces the balance in the "Checks
to Deposit" account back to zero (or you have made a mistake somewhere
along the way).
Or, as a workaround, create a new LOC account as if it was a Checking or Cash account and use that instead.
I concur, in this day and age, Credit Card accounts should show in the pull-down list of the "New Payment" dialog in Customer Invoices accounts.
If you feel strongly
enough about wanting your voice heard about improving this in a future version
of Quicken, please post feedback using
this new procedure here:https://getsatisfaction.com/quickencommunity/topics/quicken-faq-how-do-i-submit-feedback-on-quicken
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