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What is the correct way / best practice to deal with two payments on one receipt.
For my case a large bill was paid by credit card, the credit card was paid, then the balance of the bill was paid by the same credit card.
Now in quick books online the transactions show up as two items, but I only have one receipt.
Do I put the receipt in twice?
Is there a way to split the payments on the receipt?
Thanks
Hi provincialmoving,
Thanks for connecting with us here in the Community. QuickBooks is an easy-to-navigate program that helps you to manage the accounting-side of your rental properties with peace of mind. I'll be happy to share more info so you're on the right track with your work.
In order to accurately record your transactions, I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in.
Let me know if this info helps. Otherwise, feel free to ask questions in the comments below.
There has to be simpler solution then talking to an accountant. This seems like a very common situation. Perhaps someone else could assist. Thanks
To make sure I'm understanding your question, you have an invoice you need to pay to a supplier and you made a payment on it using your credit card - but not the whole amount was paid. Then you paid off your credit card and used your credit card again to make payment on the balance owing of the invoice - is this correct?
If I've misunderstood please clarify
Correct,
End result being I have two credit card transactions, but only one receipt.
I just want to know if there is a best practice for dealing with this? Scan the receipt twice or does Quick Books have a method of splitting a receipt?
I've had similar and I use the same receipt for both transactions. When I enter the payment I use A and B as part of the Ref no. so that I know it's a partial payment but with one receipt. I'm not sure if QBO has the ability to split a receipt so I attach the same receipt to both payment transactions I enter.
Hell o again,
I can provide further information about receipts. As AdminAndrea thought, QuickBooks Online can only associate an image from the receipts tab to one transaction in QuickBooks Online, so if you would need to attach it to more than one transaction, you can take more than one picture of it to attach to each transaction.
If you have any other questions, feel free to reach out here.
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