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Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

 
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Best answer June 02, 2020

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Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

I think I have worked out the issue with the allocation.  After looking at the journal and checking with our treasurer the Allowance for Doubtful accounts is the correct place for the funds to be allocated.

 

Thank you all for your help

 

Claire

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11 REPLIES 11
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QuickBooks Team

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Hello Claire26 👋, Welcome to the Community. When you say allocate are you receiving funds for an invoice? And when you're choosing what account you wish to deposit the funds too, the account is changing to "allowance for doubtful accounts" even though you're selecting something different? Becky

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Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Hi Becky

The invoice is set in our templates with each product/service listed.  When I check the details they are set against the correct account (Plant sales, Wine sales etc).  We issue the invoice and when it comes to receiving the payment to the invoice the account then changes to the incorrect account (Allowance for doubtful accounts) and I cannot edit/change it.

Thank you, Claire

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QuickBooks Team

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Hi Claire26

 

Could you provide a screenshot of an example? (If you go to more on the transaction and then transaction journal it will bring up all the accounts the transaction is posting to.) If you go to the product and services in the cog in the top right and then edit on plant sales for example what income account does it show as posting to? If it is the correct one can we ask you to try changing it to something else, saving it and then changing back to the original one making sure the change for historical transactions is ticked. Does it then show correctly?

 

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Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Here is 1 screenshot of 4

Highlighted
Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Here is 2 screenshot of 4

Highlighted
Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Here is 3 screenshot of 4

Highlighted
Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Here is 4 screenshot of 4

As you can see the account has now changed to "allowance for doubtful accounts" but it should show that it was wine sales/plant sales.  This has caused all the invoices that have had funds allocated to show under this account rather that the correct account in the chart of accounts.  Our P&L is now incorrect.

Highlighted
QuickBooks Team

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Hi Claire

 

 

We can only see posted screenshots 2-4, the 1st screenshot does not appear to have uploaded. we can see the chart of accounts, banking section, and the line on the invoice. What we need to determine where this is coming from is a screenshot from the product and service on one of the items this is happening with if you go to edit and then income account and also one of the journal behind the transaction itself (which you can get from going to more on the black line of the invoice and then the transaction journal and it will then pull up accounts posting to. As it is an invoice part of the posting will show as debtors as a debtor has paid but the income account should show on the other side which is why we are asking for the transaction journal. Can I ask what your debtor's account is called in QuickBooks?

 

Thanks

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Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

How do I print the transactions journal?  

Highlighted
QuickBooks Team

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

Hi Claire, 

 

You can view the transaction journal by opening the invoice and going to 'More' on the footer > 'Transaction journal' and then screenshot this as usual. If you want to print a physical copy of this you can select the print icon in the top-right.

 

Thanks for your cooperation

Highlighted
Level 2

Can you explain why when we allocate funds to an invoice the funds go to the account "Allowance for Doubtful accounts" rather than the account set in the template?

I think I have worked out the issue with the allocation.  After looking at the journal and checking with our treasurer the Allowance for Doubtful accounts is the correct place for the funds to be allocated.

 

Thank you all for your help

 

Claire

View solution in original post