Quicken will not "Clear" a receivable transaction

Jon_sacks
Jon_sacks Quicken Windows Subscription Member ✭✭
in Registers & Transactions (Windows)

I have a "REFND" transaction in an Account Receivable Ledger that will not Clear. A payment was made in the same amount for the same Customer Name and the transaction comes up in "Receive Customer Payment" with the Credit Amount showing.

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It clears the REFND side, but won't clear the PMT side of the transaction. I have deleted the payment, re-entered it and reapplied it multiple times, ran a File Verification (no errors). There is no way in an A/R ledger to manually set it to "C". Any ideas?

Comments

  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I must be missing something.
    Normally, in your A/R account, you enter New Customer Invoice transactions and later, when the customer pays, you enter New Customer Payment transactions to mark the invoice as paid.

    Here you issued a Refund, but there is no unpaid Customer Invoice. So, what's going on here?

    In the case of having an invoice on file, plus you issued a refund, you can mark the refund together with the next customer payment as "Apply existing credits" to mark invoice, refund and payment as paid / cleared.
    In the case of a full refund, create a customer payment transaction for $0.00 and mark "Apply existing credits". (Saving this $0.00 payment will make it disappear, but the invoice and the refund transaction will be marked paid / cleared)

  • Jon_sacks
    Jon_sacks Quicken Windows Subscription Member ✭✭
    https://community.quicken.com/discussion/comment/20464714#Comment_20464714

    A RFND transaction happens when you apply a debit from another account (i.e. keeping accounts in balance, in this case the amount was paid by the vendor directly to the other vendor).
    The problem was created when doing a "Receive Payment" for 0, it applied only the "c" flag to the refund, but did not mark the Payment as "c" even though they are in balance. That is what I'm showing you in the first image, the application in the "Receive Payment", clearly there is a bug.

  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Where's the Customer Invoice transaction for this customer? It's not showing in your images.
    To mark something as paid, you need an Invoice transaction followed by one or more of a Customer Payment or a Refund transaction.

    Quicken was designed many years ago with a traditional process in mind where you always enter all customer transactions into the A/R account.
    Transactions should not be entered "thru the backdoor", i.e., in your checking account as a transfer to the A/R account. That's where Refund transactions come from that aren't refunds but real payments.

    If a customer direct-deposits money into your checking account, first record a customer payment transaction and then accept and match the deposit in your checking account.
    Recording said customer payment transaction allows you to select and mark the invoice as paid.

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