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Record overpayment in quickbooks for mac

#Record overpayment in quickbooks for mac how to#
#Record overpayment in quickbooks for mac for mac#

In the memo enter the details of the overpayment.

In the “Add Funds to this deposit” section, enter the revenue account you want to track the overpayment.

Option 3 Account for the revenue directly on the bank deposit (Quick & Dirty)ĭepending on how these transactions were made and if you have integrations, there might be a deposit already made, but there is a discrepancy You can account for the discrepancy directly on the deposit Edit the original payment to ensure the overpayment is applied to the Invoice, and the Journal Entry.One the second line, enter the income account you want to track this overpayment.

Enter the customer in the Name dropdown.

In the memo, enter the details of the overpayment.

Check out this article for the detailed steps under the For Macsection: Record a credit memo or refund in QuickBooks Desktop. Enter the amount in the Payment column, if not already entered by QuickBooks, then select OK.

#Record overpayment in quickbooks for mac how to#

Enter Accounts Receivable on the first line and enter the amount of the overpayment in the debit column. How to find Unapplied Payments in QuickBooks Enterprise, QuickBooks Premier, and QuickBooks Pro: Click on Customer. Select the Apply Existing Creditscheckbox.

Create a new Journal Entry dated the same day as the invoice.

We will assume this is an Invoice-Payment scenario If you don’t foresee this happening again, you can account for the revenue on a journal entry and call it a day. Option 2: Account for the revenue through a Journal Entry (Once and done) Now you have an item that you can use in the future if this should happen again.

If the original sale is an invoice, you would edit the original payment to ensure the overpayment is applied to the Invoice.

You can add the situation in the description field

Edit the original sales transaction to add it to the total.

Income account would be whatever income account you’d like in order to track this revenue.

The item type would be Service called “overpayment”.

If you want add the 50 cents to the invoice or sales receipt, you would:

There are a variety of ways to handle this, the right way depends on where you want to see the overpayment: Option 1: Adjust the original sale (thorough) Let’s say this is an invoice for $26.50 and the customer rounds up to $27, what do you do with the extra 50 cents? The 50 cents is moneys received, so it should be now counted as revenue. If you have any questions or clarifications about QuickBooks, please leave a comment below.

#Record overpayment in quickbooks for mac for mac#

Check out this article for the detailed steps under the For Mac section: Record a credit memo or refund in QuickBooks Desktop. Magazine.When you receive more money than your sale is for, and the customer says, “Keep the change,” how do you handle that in QuickBooks? Enter the amount in the Payment column, if not already entered by QuickBooks, then select OK. She has also been published in The Wall Street Journal, Forbes, BusinessWeek, American Express Open, the Huffington Post, and Inc. Marjorie sits on Intuit’s VIP Program, is a frequent contributor to Inuit Accountants News Central, and has developed Intuit’s QuickBooks Enterprise Certification training. She was listed on CPA Practice Advisor’s 40 Under 40 in 2014 & 2015, and has been recognized as Intuitive Accountant’s 2015 QuickBooks Desktop ProAdvisor of the Year. Marjorie Adams is considered one of the top QuickBooks trainers in the country. Over the years, Fourlane has helped over 10,000 customers across many different industries with their QuickBooks accounting software. Fourlane’s team of experts offers several QuickBooks oriented services including consulting, training, programming, integration, and more. Our head QuickBooks trainer and guru, Marjorie Adams, is Founder and CEO of Fourlane, Inc., an award-winning consulting firm and Intuit’s #1 QuickBooks Reseller Partner.