Customer invoice totals are not the same as the sale/income totals.

acustomz · ‎March 30, 2021

I am very new to Quickbooks Online.
Having started, nearly, after the first quarter of 2021 there are invoices that were already completed using the old paper method before we finally started using Quickbooks.

At any rate, I am having trouble matching invoices to payments customers have made.
For example:
A Customer's invoice totals $120.20 (with tax) on 1/25/2021; when the payment shows in our banking it does not show that amount; it could show something like $200.50 on 2/1/2021. Or the total of $120.20 never shows anywhere in sales at all.

I was hoping to have this all figured out before the end of this first quarter but it's not promising.

Thank you all in advance!

ReymondO · ‎March 30, 2021

Thanks for getting back to this thread, @acustomz.

Allow me to add more info with regards to your banking concerns in QuickBooks Online.

The downloaded payments on the Banking page depend on the transactions that were cleared by your bank. If your customers pay their invoices by lump sum, then this should be matched to your total invoices in QuickBooks.

It could be that your customer pays you more than their actual invoices. This can be the reason why the amount showing on the banking menu is different.

However, you can check this out with your customer. This way, we can verify how much did they actually pay to you. You can also ask for help from your accountant. Then, review your bank statement to find the discrepancy.

Additionally, you can use this article as an additional reference in categorizing your downloaded banking transactions in QuickBooks.

Let me know how else I can help you with QuickBooks by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!

View solution in original post

Rustler · ‎March 30, 2021

If you are selling an item on an invoice, those items MUST be linked to a sales income account - are they?

acustomz · ‎March 30, 2021

Yes, Sir, they are.

ReymondO · ‎March 30, 2021

Thanks for getting back to this thread, @acustomz.

Allow me to add more info with regards to your banking concerns in QuickBooks Online.

The downloaded payments on the Banking page depend on the transactions that were cleared by your bank. If your customers pay their invoices by lump sum, then this should be matched to your total invoices in QuickBooks.

It could be that your customer pays you more than their actual invoices. This can be the reason why the amount showing on the banking menu is different.

However, you can check this out with your customer. This way, we can verify how much did they actually pay to you. You can also ask for help from your accountant. Then, review your bank statement to find the discrepancy.

Additionally, you can use this article as an additional reference in categorizing your downloaded banking transactions in QuickBooks.

Let me know how else I can help you with QuickBooks by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!

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Customer invoice totals are not the same as the sale/income totals.