When I invoice a customer, how do I itemize the deductions

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Gerald Fiset
Gerald Fiset Member ✭✭
in Business and Rental Property Tools (Windows)
When I invoice customers, there are deductions that are figured into the final pay. I need to find out how to add those deductions to reconcile the final pay

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  • UKR
    UKR SuperUser ✭✭✭✭✭
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    Do you wish to show your customer those deductions, e.g., a 5% Discount, as a separate line item on the invoice?
    If not, it would be better to simply bill the reduced amount.
    How about you provide an example of what it is that you are trying to do and we'll let you know how you can do it in Quicken.
  • Gerald Fiset
    Gerald Fiset Member ✭✭
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    I need to reconcile what I billed versus what I got paid as these are deductions that need to be reconciled with the final pay. The customer already knows so this is forIRS purposes
  • UKR
    UKR SuperUser ✭✭✭✭✭
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    You got me totally confused now.
    Can you please describe, step by step, what line items you put on an invoice and what other activities you perform "for IRS purposes"?
    Can you please capture one or more images of the parts of your Quicken window showing the issue, sensitive information blacked out as necessary to protect your privacy but annotated to describe the situation, and attach the image(s) here?
    The Windows Snipping Tool (available with Windows 7 and up) can be used to capture a partial screen image and save it to a file.  Microsoft Paint can be used to annotate the image.
    https://support.microsoft.com/en-us/help/13776/windows-use-snipping-tool-to-capture-screenshots
    To take a screenshot in Mac please see https://support.apple.com/en-us/HT201361
    Please create image files of type PNG, JPG or GIF only.
    To attach the image here, start composing your reply in the "Type your comment" box at the bottom of the webpage. At the top of the text entry window  you'll see a row of icons beginning with B I S
    Click the "Attach image" icon (the one that looks like a landscape with mountain and sun). It will allow you to select and upload the captured image file(s) from your computer. The captured image(s) will be inserted at wherever the cursor is located in the text.
  • Gerald Fiset
    Gerald Fiset Member ✭✭
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    An example, I bill a customer for $1900.00. I receive $1897.50 after quick pay discount and a charge from Comdata for 1.75 and a charge from Transflo for 2.50. What I need to do is add these charges to my original bill to reconcile the final total
  • Gerald Fiset
    Gerald Fiset Member ✭✭
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    End total was wrong, $1867.32
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Options
    Using the various transaction types available in your Customer Invoices account you can do this, in this order:
    1. Write and mail original invoice, $1900.00
    2. Record a Credit transaction for this customer for all the charges, $ 32.68 and categorize it as an appropriate business expense.
    3. Record the net payment received as a New Customer Payment transaction, $1867.32 and select the checking / credit card account that you received payment in. Also checkmark the "Apply existing credits" box. Select the outstanding invoice that this payment applies to. This should result in the invoice, the credit transaction and the payment transaction to appear in your Customer Invoices register as paid ("c" in the Clr column). This should also allow you to reconcile the actual payment amount received with the payment transaction you posted in the checking / credit card account.
    4. Download transactions in the checking / credit card account only AFTER you posted the net payment received in Customer Invoices, for easier matching of downloaded vs. actual transactions.
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