Post by Jefferis NoSpammeThanks again Tara,
I am backfilling Dec. Invoices paid in Jan. So I first filled out a Sales
Receipt before creating an invoice.
Okay, use one or the other but not both. A Sales Receipt is the same as an
Invoice with the exception that an Invoice is allowed to have an open
balance whereas a Sales Receipt is a sale where money was received in full.
You can use Invoices for the same thing though and I recommend people do
that. If you always use invoices then you'll always be looking at the same
screens. When you use a Sales Receipt QB automatically places the money
received either undeposited funds or the bank account. With invoices you
manually receive payments then tell QB where to put the money.
Post by Jefferis NoSpammeThat left an odd item in my client
Company transaction list. I cannot tell if it was actually registering as a
duplicate deposit or if it is merely an accounting notation.
If you recorded a sales receipt then QB recorded that you received the
money. If you then created an invoice, and received money for it, then
you've doubled the transaction. Decide whether or not you plan to use both
features or just invoices. Void the extraneous sale.
Post by Jefferis NoSpammeI then received the money but first created an bill for 12/1/04 so that it
could be allocated.
You've confused me here. 'Bill' in QB means something to be paid by you.
Post by Jefferis NoSpammeI then saw in the register a Statement Charge rather
than an invoice, which I was going to memorize, but I'm not sure what a
statement charge is vs. an invoice. I deleted it and reentered an invoice.
Then received the money.
Generally a statement charge is a percentage or flat fee used as a finance
charge for a customer account. An example would be charging 3% of open
balances on the 1st of every month. By creating a statement for open
invoices you can add that statement charge in.
Post by Jefferis NoSpammeI had checked 'deposit to checking acct' rather than group with undeposited
funds. However it appeared to be in A/R until I later went back and pressed
Auto apply. Seems you have to make several steps to apply received monies
to get it to register properly?
I think you've used at least two, possibly three, methods of recording a
sale for a customer when you should have only used one. If you use Sales
Receipt then you're telling QB that you've got the money in hand and you
select the option on the Sales Receipt to either deposit to checking or
place in undeposited funds. If you do the latter then you have to go to
Make Deposits and select that money to actually place it in the checking
account. If you use an invoice, without a payment line item created &
entered, then the sale automatically goes into Accounts Receivable until you
tell QB the customer paid you. Then you go to Customers > Receive Payments
and select whether to place the money into checking or undeposited funds.
If the latter then repeat the Make Deposits action.
Post by Jefferis NoSpammeI use a cash based accounting and deposit
the money usually the same day I log it in, so I don't use undeposited
funds. It seems to be a wasteful, added step for me.
Many people think that and its fine as long as you don't make deposits with
several customer payments on them. If you do the latter then you'll have
extra work at bank statement reconciliation time. You'll be trying to match
a bank deposit showing $750 with 3 different customer payments you (inside
QB) deposited separately to checking.
Post by Jefferis NoSpammeHowever, I was able to
memorize my transactions with your instructions, thanks. If you choose auto
enter an invoice, does it show up in the Print Invoices window when due, or
how do you look for another 'reminder' of a due transaction. I chose not to
use remind me on the anniversary...
It should show up as long as you have your invoices checked to print upon
saving. If you don't then it'll just record the invoice to Accounts
Receivable and you'll have to double-click into the invoice to print it.
--
Tara