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info138
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

Is there a way to write off the 1 cent shortage/overage at the time I am posting the payment?

19 Comments 19
impossible
Level 6

How can I write off a 1 cent short payment when I am posting the payment?

For anything under $1.00 I either edit the Original Invoice to equal the Payment Received or I receive the Original Invoice amount and let QB enter a Reconciliation Adjustment when I reconcile the Bank Statement.

DMKmb
Level 3

How can I write off a 1 cent short payment when I am posting the payment?

If you're using the 'Receive Payments' function if there are no other outstanding amounts receivable for the customer the option to either 'Leave this as an underpayment' or to 'write off the extra amount will automatically appear.

If there are other amounts (invoices) receivable from this customer uncheck all of the invoices, and then re-cheque the invoice being paid. The same option should appear.

 In case of overpayments the options will be to either 'Leave the credit to be used later' or 'Refund the amount to the customer'

DD8
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

"either 'Leave this as an underpayment' or to 'write off the extra amount will automatically appear." does NOT automatically appear.  This is incorrect.

SueHu
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

The option to leave as an underpayment or write off to an expense account appears on my QB desktop version, but not on QB online... Does anyone know how I can get this functionality working on QB online?

JamesM
QuickBooks Team

How can I write off a 1 cent short payment when I am posting the payment?

Hi SueHu. I want to make sure I'm on the same page as you. Could you elaborate more on what you're trying to accomplish on your QBO account? I'll be on standby. 

steve4141
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

I have the same question. Quickbooks Online does not give the option to write off the underpayment in the receive payment screen. Does anyone have any solutions?

DMKmb
Level 3

How can I write off a 1 cent short payment when I am posting the payment?

Sorry, never found too much use for QBO given it’s limitations.

You are better off asking this as your own question on the forum for QuickBooks Online, that way you get wider exposure and more relevant answers from QBO users.

 

LauraAB
QuickBooks Team

How can I write off a 1 cent short payment when I am posting the payment?

Hello there, steve4141,

 

I want to make sure you have the answers you need for handling the underpayment from a customer in QuickBooks Online. So far, this thread has been mostly about QuickBooks Desktop's functions, and, as has been highlighted, QuickBooks Online doesn't necessarily have the same options. I'm here to help.

 

In QuickBooks Online, the option to write off an amount in the receive payments window isn't available like it is for Desktop. Since it's not, you can consider other options, such as editing the invoice to match the amount of the payment as was suggested earlier in this thread or the steps in the Write off bad debt in QuickBooks Online article. I recommend checking in with an accountant to determine the most appropriate option for your situation. An accountant familiar with QuickBooks Online would be a great asset because they'll have both the accounting knowledge and the QuickBooks know-how to navigate this scenario.

 

When it comes to working with an accountant and using QuickBooks Online, the My Accountant tab in the left menu is the perfect tool. It gives you the option to search for an accountant if you need one using the Find a pro to help button while also giving you the option to invite an accountant you're already working with as a user to your QuickBooks. This would provide them with the tools and access to your books they need to help you directly in the program.

 

I hope that helps and that you have a great day. :)

dguggenbiller
Level 2

How can I write off a 1 cent short payment when I am posting the payment?

Seriously?  Why so complicated to write off an underpayment in QBO?

AddieC
QuickBooks Team

How can I write off a 1 cent short payment when I am posting the payment?

Hi dguggenbiller. I can appreciate that the methods available to record an underpayment in QuickBooks Online may not be quite as straightforward compared to the Desktop product. This is something our product development team would love your feedback on! You can submit your suggestions to them directly by clicking the Gear icon > Feedback. I'll pass on your thoughts about this to my team as well. 

Mollysmom
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

This is an  IMPORTANT function missing from QBO!  We received Credit card payments with the CC fee's deducted from payment -  I want to be able to pay the invoice IN FULL and write the Credit card fee off as an expense.  At the moment we are having to go back in and process a credit to remove the balance of the invoice!!

LauraAB
QuickBooks Team

How can I write off a 1 cent short payment when I am posting the payment?

Hi Mollysmom,

 

I'm glad to hear that you've come up with a workaround for this sort of situation to make sure your books are balancing in QuickBooks Online. Depending on the payment provider you're using, some will post the payment received and expense fee separately, whereas others do as you've described, where they take the fee from the payment. I know this can cause challenges when trying to record your transactions.

 

As was highlighted above, I recommend leaving feedback about this. It's a good way to request features and let the product development team know what you're looking for when using QuickBooks Online. Our goal is to provide you with the tools you need to keep bookkeeping easy and feedback shines light on the various ways we can consider to do that.

 

Enjoy the rest of your day.

LoulouALTS
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

Having the same issue.  Need to clear a 3 cent underpayment. We are new to QBO and can't get over the limitations.  It's not working out great for us.  So many seemly simple tasks it can't do.

 

LauraAB
QuickBooks Team

How can I write off a 1 cent short payment when I am posting the payment?

Hello LoulouALTS,

 

It's great to hear that you're new to QuickBooks Online and giving it a try. I hear what you're saying about how limitations such as this can slow down your workflow. If you haven't already, I recommend going through this thread to see the suggestions for how to handle the underpayment in QuickBooks Online, such as writing it off or connecting with an accountant to learn if there's a better way to go about it.

 

I also invite you to leave feedback to contribute your voice to this situation. Our goal is to provide a software you can rely on for business accounting, and sharing your thoughts and ideas as feedback is the perfect way to help us grow the program to do just that. To keep in the know with new features, feel free to bookmark and check on our QuickBooks Online Product and Feature Updates page.

 

Wishing you the best with this situation and as you continue to use QuickBooks.

christyllew
Level 2

How can I write off a 1 cent short payment when I am posting the payment?

We have the same thing happen with processing fees.  I usually mark the invoice paid then at the bottom of the Bank Deposit page "Adds funds to this deposit" area, I insert the necessary information for the processing fee, so then the total deposit is correct.

 

Invoice $100.  Fee $3.  Deposit $97.

Check invoice for $100

At bottom:

Received from: Square Customer (whoever)

Account: 6-xxxx processing Fee Account

Payment Method: Square (whoever)

Ref No.

Amount -$3.00

Class:

 

No need to make a credit memo or anything.

Tammy_H
QuickBooks Team

How can I write off a 1 cent short payment when I am posting the payment?

Hi christyllew,

 

Thank you for sharing that information. The QuickBooks Community is a great place to find answers and support each other. I can provide an article that explains the process of adding funds to a deposit to accompany your post.

 

You'll find detailed steps in this article: Record and make bank deposits in QuickBooks Online. If you're matching the deposits or transactions through your bank feeds, you can review this article: Categorize online bank transactions in QuickBooks Online. The article goes through how to use the resolve toggle to account for the difference. 

 

If you have questions about this or anything else, reach out. I'm here to help. Have an awesome night!

dmcgregor
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

Just moved over to QBO and ran into the same problem. Ridiculous.

Turtle Time
Level 1

How can I write off a 1 cent short payment when I am posting the payment?

Hi there,

I'm also VERY new to QBO. I haven't used anything else previously so it's all a learning curve. I have 48 invoices from our first few days that show as outstanding by one or two cents due to rounding off issues. We are using Shopify as our POS and I was a little slow to set up the necessary "rounded off Item" product that handled these tiny adjustments. Reading through the related chat, I'm wondering if I should just adjust the invoice to match the amount paid, or add the Shopify "rounded off Item" in the correct amount to the invoice, to account for any shortage or overage. Really just learning as I go.

Jen_D
Moderator

How can I write off a 1 cent short payment when I am posting the payment?

Welcome and thanks for using QuickBooks, @Turtle Time.

 

I want to make sure you're able to resolve this rounding difference in QBO. Before anything else, may i know if these entries are from Shopify and were downloaded in QBO? If not, did you create these entries within QuickBooks? Any information will help me further with the resolution.

 

Please know that the program is designed to do line-by-line rounding, which can sometimes amount to differences depending on how other programs round or how you round using other methods. When it comes to apps or other services that are integrated with QBO, touching base with the app or integration developer is an important first step since those teams are the ones that designed how the information is transferred to and entered in QBO. There may be something on their end that they can look at to help avoid these kinds of issues.

 

For now, you can edit the entry with the correct amount, or make some adjustments to the balances.

 

Please come back here for the additional details and updates. I'll be right here to help you out.

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