I have a client who raised for example 15 invoices per month for work completed for a specific customer. The customer will then make payments towards the balance and not a specific invoice. They do not want this to be offset against a specific invoice until a later date. How can I do this?
What I have tried
I have created a test supplier account with two £5+VAT invoices.
I have made a general payment of £6 (Sales>Customers>Select Customer>New Transaction>Payment). I have filled in the amounts received box with £6 but not filled in the boxes that correspond with my two invoices. It then gives me a pop up box stating this will just be offset against the customer account (ideal).
When I go to create a statement it appears that this has actually offset against the earliest invoices though.
Ideally I would need the customer statement to say inv1 £6, inv2 £6, payment £6 but not offset against any specific invoice.
Is there any way for me to do this?
Thank you in advanced.
I've got you covered today, CWR11.
You'll want to create a Credit Memo to make payments towards your balance without applying it to your invoices in QuickBooks Online (QBO).
I'd be happy to walk you through the steps below:
Once you're ready to offset the payment to those invoices, you can just simply apply the credit memo through the Receive payment option.
For additional information about creating a Credit Memo in QuickBooks Online, feel free to visit this article: Enter and apply credit memos and delayed credits in QuickBooks Online.
You can always get back to me if you have other questions. I'd be more than happy to help you some more. Stay safe and enjoy the rest of the day!
It would be to do a credit note in QuickBooks that is the only way to do it. And your right in the Uk product of QuickBooks there is no credit memo option, we just have a credit note.
Thanks for getting back in the thread, @CWR11.
Let me provide some clarification regarding offsetting the payments against your customer account.
You're already on the right track with the steps you've tried. It just seems that the automatically apply credits setting was turned on that's why the balance was offset. To check, you'll need to go to your account and settings and change it from there.
Next, create a payment by clicking the + New on your Dashboard. Then select Receive payment. Select the customer and enter the amount. Be sure not to select any invoices on the Outstanding Transactions. Click Save and close when done.
This payment will be saved as a credit to your customer. You can apply this credit for future payments. The balance will show as an offset on the customer's page but when you run a report for open invoices, it'll show the actual balance.
For other resources that may help you in the future, you can check out the following links below.
That's all there is to it. Please keep in touch with me here for all of your QuickBooks needs. Thanks for bringing us your question, wishing you and your business continued success in all future endeavors.