We received a payment remittance of $7060.43 from our client for work order invoices that total $8069.29, however, they reduced the payment by $1008.86 in credits for other work done at different locations and/or for greater amounts than what were invoiced.
How can I receive this payment accurately?
Partial remittance attached.
Thank you in advance!
Hello there, @GramCracker.
Let's create a barter account and get your payment recorded.
A barter bank account is used to post both sides of a traded transaction. For instance, you might trade or exchange something you sell for something a client sells.
Recording a barter transaction is a process that requires a few one-time setup steps that can then be used to record any barter or trade transaction you may have with your customers or vendors.
But, please make sure that the barter's partner name is both listed as a vendor and a customer.
To set up a barter bank account:
Once done, receive the payment against the invoice:
After that, pay the bill using the barter account to zero out its balance:
You can read this article for your reference: Set up a Clearing Account.
Another way around, if your customer paid your vendor directly for materials you used, you can check out this article to learn how to record under-payment: Resolve Common Issues when Applying a Payment towards an Invoice.
If you have other questions, you can always go back to this post. Have a good day!
This did not resolve my issue.
I do not have a "bill" needing paid. Therefore, I am not able to choose a bill to pay.
I have credits at a particular location in excess of the invoice amount that the payment is being applied to.
The invoices I'm receiving payment on are for April Landscaping.
The client credits that the client reduced my April payment for were credits issued for February Snow Removal.
Example of receiving issue(s) with credit memos:
Location X February snow credit memo = $428.58
Location X April landscaping invoice = $386.40
Keep in mind, the client paid the entire February invoice in full prior to the credits being issued, and then reduced a completely different billing period.
Thank you in advance for your continued support.
You can apply the credit on your invoice to correctly record it. Just make sure to record the overpayment to show the available credits. I'll show you how to record your credit.
Please read this article for details: Record a credit memo or refund in QuickBooks Desktop.
You might also find this article helpful: Accounts Receivable workflows in QuickBooks Desktop.
Please know that you can always come back here in the Community space if you have other questions.
Thanks for coming back, GramCracker.
When you record the credit as overpayment or credit memo, you can see it in the customer's balance total. Then, use it against your next invoice.
For credit memo, go to Customer, then Create Credit Memos/Refunds.
To record an overpayment, here's how:
To apply the credit to your open invoice, here are the steps:
I've added some screenshots for you.
Additionally, you can still apply for the available credits if your invoice is greater than your credit.
Stay in touch if you have further concerns. We're always here to help.