how do I enter a payment that is more than the invoice?
jvb
Member ✭
I received a payment for $20.00 more than the invoice.
Will apply it to next month's invoice.
tried adding the amount of the check, but it either upped the amount of the invoice or reverted the payment back to the original.
Tried doing a credit memo, but that doesn't show up for a bank deposit.
What else can I try?
Will apply it to next month's invoice.
tried adding the amount of the check, but it either upped the amount of the invoice or reverted the payment back to the original.
Tried doing a credit memo, but that doesn't show up for a bank deposit.
What else can I try?
0
Best Answer
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Hello @jvb
I'm sorry to hear you are experiencing issues entering the invoice payment with the overpaid amount.
The prior steps provided should work to enter the payment correctly as there is no difference between the US and Canada versions of Quicken when entering invoice payments.
If you haven't already, please go to the Business Tab in Quicken and click the drop-down arrow on the "create invoice" button in the upper right corner of the Business Tab, selecting "Receive a Customer Payment" from the menu that appears.
The Enter Payment window should open, please select your Customers name from the list and any unpaid invoices should be listed automatically.
Enter the Full Payment Amount and select which invoice the payment is applying to, any overpayment amount should automatically show in the Unapplied Amount field, as seen below.
When the information is filled in, click Enter to save the payment. Then go back to the Business Tab > Receive Customer Payment window and re-select the same payee. You should now see the overpaid amount listed in the "Existing Credits" section. When ready to apply those funds to an invoice you should only need to check mark the "Apply existing credits" box.
I hope this information is helpful and please let us know if there are further questions/concerns.
Thank you,
Sarah8
Answers
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If you're talking about recording a payment received from a customer into your Customer Invoices account register ...In the Customer Invoices account register just record a New Customer Payment for the full amount received and mark the outstanding invoice as paid.In my test file, I recorded a customer invoice for $60.00
Here's the Customer Payment transaction for $80.00 received:The Unapplied Amount will carry forward to the next invoice. No additional transactions need to be entered in Quicken unless you want to refund the overpayment to the customer.
Issue the next invoice for the full amount (e.g., $60.00)
If you are using Q 2019 (I assume your Canadian version does the same as the US version), the printed invoice will show "Balance Due $40.00" at the bottom.
If not, send a Customer Statement along with the invoice or write a note on the invoice itself to inform the customer of the reduced balance due.
When the next payment comes in ($40.00), record and apply it as above. This will reset the Unapplied Amount to 0.0 -
Your solution looks great. Unfortunately my invoice payment doesn’t show ‘unapplied funds’ is that something I can easily add to it? I’m a complete newbie trying to find my way around0
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What version of Quicken are you using?Quicken Subscription HBRP - Windows 100
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Quicken online 219, as far as I know0
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There is no such thing as Quicken online 2019. From Quicken --> Help --> About Quicken. I just tried it on Quicken Subscription and Quicken 2017 (US Version) and I see the Existing Credits/Total to Apply/Unapplied Amount lines.Quicken Subscription HBRP - Windows 100
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All I can find is Qicken Online Cloud - Essentials
Help only gives me answers to questions0 -
I'm not that familiar with the Canadian versions of Quicken. Maybe someone who is can answer your question.Quicken Subscription HBRP - Windows 100
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ty for trying0
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Hello @jvb
I'm sorry to hear you are experiencing issues entering the invoice payment with the overpaid amount.
The prior steps provided should work to enter the payment correctly as there is no difference between the US and Canada versions of Quicken when entering invoice payments.
If you haven't already, please go to the Business Tab in Quicken and click the drop-down arrow on the "create invoice" button in the upper right corner of the Business Tab, selecting "Receive a Customer Payment" from the menu that appears.
The Enter Payment window should open, please select your Customers name from the list and any unpaid invoices should be listed automatically.
Enter the Full Payment Amount and select which invoice the payment is applying to, any overpayment amount should automatically show in the Unapplied Amount field, as seen below.
When the information is filled in, click Enter to save the payment. Then go back to the Business Tab > Receive Customer Payment window and re-select the same payee. You should now see the overpaid amount listed in the "Existing Credits" section. When ready to apply those funds to an invoice you should only need to check mark the "Apply existing credits" box.
I hope this information is helpful and please let us know if there are further questions/concerns.
Thank you,
Sarah8
This discussion has been closed.