Is it possible to tag a business in an invoice so that unpaid invoices show up in assets?
Hi
We've been trying to solve this for a while, and would really appreciate if you could share a resolution or work around. Thank you.
[Using quicken rental property manager 2016]
We have a couple of businesses within the platform. What we have been trying to do is tag specific invoices to specific businesses (as in that business issues the invoice to the customer and then the customer pays that business invoice).
Example:
The main default business tag for everything is “Service Provider”. But separate to that we have a small start up called “widget maker”. So when widget maker sells a widget to a “Customer A” we want to be able to issue an invoice to Customer A from the Default invoice “Service Provider” but BOTH invoice and payment get tagged to “Widget Maker” internally. That way we can individualise the internals. We have no problem allocating the payment to “Widget Maker” as we use a “/Widget Maker” tag in the payment category.
Our issue is that the invoice is not being allocated to “widget maker” when we do a cash-flow or balance sheet report – so we have no way of knowing if we have unpaid invoices specific to “widget maker”.
Does that make sense in the explanation? If not please feel free to ask for clarity, and if it does we would greatly appreciate your help.
Thank you.
We've been trying to solve this for a while, and would really appreciate if you could share a resolution or work around. Thank you.
[Using quicken rental property manager 2016]
We have a couple of businesses within the platform. What we have been trying to do is tag specific invoices to specific businesses (as in that business issues the invoice to the customer and then the customer pays that business invoice).
Example:
The main default business tag for everything is “Service Provider”. But separate to that we have a small start up called “widget maker”. So when widget maker sells a widget to a “Customer A” we want to be able to issue an invoice to Customer A from the Default invoice “Service Provider” but BOTH invoice and payment get tagged to “Widget Maker” internally. That way we can individualise the internals. We have no problem allocating the payment to “Widget Maker” as we use a “/Widget Maker” tag in the payment category.
Our issue is that the invoice is not being allocated to “widget maker” when we do a cash-flow or balance sheet report – so we have no way of knowing if we have unpaid invoices specific to “widget maker”.
Does that make sense in the explanation? If not please feel free to ask for clarity, and if it does we would greatly appreciate your help.
Thank you.
0
Best Answers
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AFAIK, the only way to "tag an invoice to a specific business" is to select the desired business name as you create the Customer Invoice.Instead of letting it default to "Service Provider" select "widget maker" in the data entry form for a new Customer Invoice, upper right hand side, field "Business tag".
That should also tag the New Customer Payment transaction properly when recording the customer's payment for this invoice.5 -
Thanks UKR for coming back to us.
Unfortunately we have done that, i.e. tagged the business as you mention, but it does not allocate payment automatically (we have to allocate payment with "/widget maker") and also does not show up in the balance sheet or cash-flow statements.
Are we missing something, or is it possible in any of them? An option in newer versions?
Thanks again0 -
How do you "allocate payment"? Do you use the New Customer Payment transaction dialog in the Customer Invoices account, Actions gear icon, to select the Customer Name and then apply the payment to an outstanding invoice?I just verified that this will do the trick: created an invoice tagged to a Test business for $123.45, received partial payment using the New Customer Payment dialog for $50.00 and the Profit/Loss view under the Business tab clearly shows $50 income this month for the Test business.Also, did you create a proper Business for "widget maker" in Business Tools / Manage Business information?5
-
That worked. Thank you very much for taking the time. We had not been doing the reporting in accrual [had been reporting in "cash"], so when we switched to accrual in reporting it showed up.
Thanks again.0
Answers
-
AFAIK, the only way to "tag an invoice to a specific business" is to select the desired business name as you create the Customer Invoice.Instead of letting it default to "Service Provider" select "widget maker" in the data entry form for a new Customer Invoice, upper right hand side, field "Business tag".That should also tag the New Customer Payment transaction properly when recording the customer's payment for this invoice.5
-
Thanks UKR for coming back to us.
Unfortunately we have done that, i.e. tagged the business as you mention, but it does not allocate payment automatically (we have to allocate payment with "/widget maker") and also does not show up in the balance sheet or cash-flow statements.
Are we missing something, or is it possible in any of them? An option in newer versions?
Thanks again0 -
How do you "allocate payment"? Do you use the New Customer Payment transaction dialog in the Customer Invoices account, Actions gear icon, to select the Customer Name and then apply the payment to an outstanding invoice?I just verified that this will do the trick: created an invoice tagged to a Test business for $123.45, received partial payment using the New Customer Payment dialog for $50.00 and the Profit/Loss view under the Business tab clearly shows $50 income this month for the Test business.Also, did you create a proper Business for "widget maker" in Business Tools / Manage Business information?5
-
That worked. Thank you very much for taking the time. We had not been doing the reporting in accrual [had been reporting in "cash"], so when we switched to accrual in reporting it showed up.
Thanks again.0
This discussion has been closed.