invoice payments applied incorrectly by Quicken

JoetteAnderson

When payments are posted to an invoice that has more than one category, Quicken splits the payment between them, when the customer only paid for one category.  How do I keep this from happening, as it messes up our tax report, which now shows payments for "tree trimming", when the amount was only being paid for "annual dues".

UKR

NotACPA

mshiggins

From C. D. Bales:

Quicken does not provide (never has provided) the ability to specify which invoice line item(s) a payment applies to.


After you exclude all the users that use the accrual basis, all the users who do not care how partial invoice payments are split, and all the invoices that have only one line item; it seems hard to make a case that Quicken should provide the code to assign payment amounts to specific invoice line items.


If you're unwilling/unable to use the accrual basis or to create a separate invoice for each invoice item, and you want an invoice payment to be reflected differently than Quicken shows it; you can accomplish that by creating a zero net amount adjustment transaction.


Suppose you had an invoice for:

- 1 Lava Lamp for $70.00

- 1 Gizmo for $30.

- Invoice total $100.00.


Then you received a payment for $70 to pay for the Lava Lamp, and when you applied that payment to the invoice, the Quicken Business > Profit & Loss report showed:

- Lava Lamp Sales: $49.00

- Gizmo Sales: $21.00


If you want Quicken to show the entire payment applied to the Lava Lamp (Lava Lamp Sales: $70.00 and Gizmo Sales: $0.00) for that invoice, create a split transaction ((probably in the Quicken account where you deposited the $70.00 check - same date as the Quicken invoice payment transaction) that looks like this:

- Gizmo Sales: $-21.00

- Lava Lamp Sales: $21.00


That transaction will result in you having $70.00 in Lava Lamp Sales and $0.00 in Gizmo Sales for that invoice - and it will not alter the balance of the account where you record it.


You will have to create a similar adjustment transaction when the customer makes the $30 payment for the Gizmo.


[If payments for a given invoice occur on separate dates, but pay the invoice in full within the same "reporting period", you could just leave out the adjustment transaction(s), as the income will be correct at the end of the reporting period. "Reporting period" as defined by you.]

NotACPA

mshiggins said:

From C. D. Bales:

Quicken does not provide (never has provided) the ability to specify which invoice line item(s) a payment applies to.


After you exclude all the users that use the accrual basis, all the users who do not care how partial invoice payments are split, and all the invoices that have only one line item; it seems hard to make a case that Quicken should provide the code to assign payment amounts to specific invoice line items.


If you're unwilling/unable to use the accrual basis or to create a separate invoice for each invoice item, and you want an invoice payment to be reflected differently than Quicken shows it; you can accomplish that by creating a zero net amount adjustment transaction.


Suppose you had an invoice for:

- 1 Lava Lamp for $70.00

- 1 Gizmo for $30.

- Invoice total $100.00.


Then you received a payment for $70 to pay for the Lava Lamp, and when you applied that payment to the invoice, the Quicken Business > Profit & Loss report showed:

- Lava Lamp Sales: $49.00

- Gizmo Sales: $21.00


If you want Quicken to show the entire payment applied to the Lava Lamp (Lava Lamp Sales: $70.00 and Gizmo Sales: $0.00) for that invoice, create a split transaction ((probably in the Quicken account where you deposited the $70.00 check - same date as the Quicken invoice payment transaction) that looks like this:

- Gizmo Sales: $-21.00

- Lava Lamp Sales: $21.00


That transaction will result in you having $70.00 in Lava Lamp Sales and $0.00 in Gizmo Sales for that invoice - and it will not alter the balance of the account where you record it.


You will have to create a similar adjustment transaction when the customer makes the $30 payment for the Gizmo.


[If payments for a given invoice occur on separate dates, but pay the invoice in full within the same "reporting period", you could just leave out the adjustment transaction(s), as the income will be correct at the end of the reporting period. "Reporting period" as defined by you.]

OR, simply, record 2 invoices.  One for the lava lamp and one for the Gizmo

mshiggins

mshiggins said:

From C. D. Bales:

Quicken does not provide (never has provided) the ability to specify which invoice line item(s) a payment applies to.


After you exclude all the users that use the accrual basis, all the users who do not care how partial invoice payments are split, and all the invoices that have only one line item; it seems hard to make a case that Quicken should provide the code to assign payment amounts to specific invoice line items.


If you're unwilling/unable to use the accrual basis or to create a separate invoice for each invoice item, and you want an invoice payment to be reflected differently than Quicken shows it; you can accomplish that by creating a zero net amount adjustment transaction.


Suppose you had an invoice for:

- 1 Lava Lamp for $70.00

- 1 Gizmo for $30.

- Invoice total $100.00.


Then you received a payment for $70 to pay for the Lava Lamp, and when you applied that payment to the invoice, the Quicken Business > Profit & Loss report showed:

- Lava Lamp Sales: $49.00

- Gizmo Sales: $21.00


If you want Quicken to show the entire payment applied to the Lava Lamp (Lava Lamp Sales: $70.00 and Gizmo Sales: $0.00) for that invoice, create a split transaction ((probably in the Quicken account where you deposited the $70.00 check - same date as the Quicken invoice payment transaction) that looks like this:

- Gizmo Sales: $-21.00

- Lava Lamp Sales: $21.00


That transaction will result in you having $70.00 in Lava Lamp Sales and $0.00 in Gizmo Sales for that invoice - and it will not alter the balance of the account where you record it.


You will have to create a similar adjustment transaction when the customer makes the $30 payment for the Gizmo.


[If payments for a given invoice occur on separate dates, but pay the invoice in full within the same "reporting period", you could just leave out the adjustment transaction(s), as the income will be correct at the end of the reporting period. "Reporting period" as defined by you.]

From C. D. Bales:

"OR, simply, record 2 invoices. One for the lava lamp and one for the Gizmo".


Yes, as covered in my previous post when I said: "If you're unwilling/unable to use the accrual basis or to create a separate invoice for each invoice item, ....".

NotACPA