I have an open invoice from last fiscal year. And customer paid 80% of amount in last year but now he is not ready to pay remaning amount.

Hi sh2295,

Thank you for reaching out to Community.  Welcome Back!  Ensuring you're recording your transactions accurately is essential when they've been performed within a previous fiscal year.  QuickBooks Online understands these things can happen, and provides options for times such as this.  I'd be happy to assist you!

Based on the information you've provided, if you prefer not to have the payment reflect on the original transaction, you'd create a new invoice for the customer based on the amount owing and then receive payment.  With regards to the original invoice from the previous fiscal year, you can write off the balance as bad debt.  I'd recommend reaching out to your Accountant for additional advice and confirmation to determine the best route to take.  If you don't have an Accountant, we can help you find one here.

If you have any other questions, please feel free to reach back out.  We're glad to help!

You will create a journal entry as follows:

DR Bad debt $$$

  CR Account receivable $$$ - select your customer name here

Save and close. 

Go back to the customer page and click on "receive payment." You will be able to create the zero dollar transactions based on the invoice and the above journal entry. Invoice will not be outstanding any more.