Posting Customer invoices.
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aron@
Member ✭
Hi.
We've created a Customer Invoice account in Quicken so that we can send invoices to our customers. When we get check payments, we deposit multiple checks into our checking account, but they appear as one transaction on the statement and in Quicken registry.
The problem arises is when I post a payment in the Customer Invoice account, it creates a reverse transaction in the checking account. However, since we deposit multiple checks together, this reverse transaction should be part of a split of the deposit transaction. And it doesn't seem like there is a way to post an invoice payment, and have it allocate it to a split transaction in the checking account. Is there a way around this problem? Or will quicken ever create such a feature? I know I can deposit each check separately in my bank, but that would be too cumbersome.
Thanks so much for your help.
We've created a Customer Invoice account in Quicken so that we can send invoices to our customers. When we get check payments, we deposit multiple checks into our checking account, but they appear as one transaction on the statement and in Quicken registry.
The problem arises is when I post a payment in the Customer Invoice account, it creates a reverse transaction in the checking account. However, since we deposit multiple checks together, this reverse transaction should be part of a split of the deposit transaction. And it doesn't seem like there is a way to post an invoice payment, and have it allocate it to a split transaction in the checking account. Is there a way around this problem? Or will quicken ever create such a feature? I know I can deposit each check separately in my bank, but that would be too cumbersome.
Thanks so much for your help.
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Answers
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What you might want to use is an intermediate holding account. Set up a cash account and call it something like Checks Received or Undeposited Payments. Then enter the payments into it. Then when you make the deposit to your bank account you transfer the total deposit amount to the new account. That way when you download your bank transactions the deposit will match.
I'm staying on Quicken 2013 Premier for Windows.
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