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Should i create a credit memo, to deal with shortfall from payment for my quickbooks online invoice? This is caused by a deduction for pension contribution.

I work as a loan out to a company. They deduct a pension contribution before paying my invoice. How do i deal with the shortfall between the recieved payment in bank feed and the quickbooks online invoice?
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QuickBooks Team

Re: Should i create a credit memo, to deal with shortfall from payment for my quickbooks online i...

Hi @pekeperformancel,

 

Allow me to share some insights on how you can deal with the payment amount currently in your bank feeds.

 

You can match the transaction to the invoice you've recorded in your QuickBooks Online company.

 

Let me provide you the steps:

  1. Go to the Banking tab, then select the correct bank account.
  2. Make sure you're in the For Review tab, then search for the payment transaction you mentioned.
  3. Click on it, then select the Find match radio button.
  4. A different page will appear that will show transaction(s) that can be a possible match for the payment. Tick the invoice intended for the payment.
  5. At the bottom right side of the page, you'll see a switch besides Resolve Difference. Click the switch to be able to fix this difference.
  6. Fill up the columns at the bottom correctly, along with the corresponding expense category (this is for the pension contribution deduction, or the difference with your initial invoice, and the amount).
  7. Click Save.

Further details regarding what you can do about your downloaded bank transactions are in this article: Match and categorise your downloaded bank transactions. It contains a step by step guide from downloading and reviewing your bank transactions.

 

If you have any other questions in mind, I'd be glad to answer them for you. Feel free to leave them in the comments below, and I'll get back to you.