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SJ15
Level 1

Naming Vendors & Customers

New company using QBDT Accountant has a customer who is also a vendor. The customer name is Smith Services (plural) and the vendor is Smith Service (singular). Payments made to the customer are showing up on the Vendor side. The balance owed to the vendor is correct, but the deposits shouldn’t be there.

Also, one of the deposits made was entered directly and coded to another BS account because they did not create the invoice first. When I attempt to change it, I get the message that I need to go to AR and “Receive Payment”. The deposit was in January and has been reconciled.

Any assistance would be appreciated. Thanks.

1 Comment
MariaSoledadG
QuickBooks Team

Naming Vendors & Customers

Hello there, SJ15.

 

You'll have to create a duplicate payment, then delete the original payment. Then, recreate the payment line in the reconciled deposit. Let me walk you through with the steps.

To create a duplicate payment: 

  1. From the Customers menu, select Receive Payments.
  2. Create a duplicate payment for the correct customer.
  3. Select Save & Close.

To delete the original payment  and recreate the payment line:

  1. From the Banking menu, select Make Deposits.
  2. Select the Cancel button at the bottom of the Payments to Deposit window.
  3. In the Make Deposits window, choose the Previous button until you find the deposit containing the original payment (that was incorrectly applied).
  4. Go to the Payments button at the top of the window to open the Payments to Deposit window again.
  5. Select the newly created payment, then OK to add it to the previously reconciled deposit.
  6. In the Make Deposits window, select the original payment.
  7. From the Edit menu, select Delete Line.
  8. Click Save & Close to automatically replace the original payment with the new payment, then Yes to the warning: "You have changed the transaction.

Once done, delete the original payment. Here's how: 

  1. From the Customers menu, select Receive Payments.
  2. In the Receive Payments window, select the Previous button until you find the original payment.
  3. Select the Edit menu and select Delete Payment.
  4. Click OK to the warning: "Are you sure you want to delete this transaction?", then Save & Close.

Please check this article for more information: Correct Customer Payments That Have Been Deposited Or Reconciled.

 

For future reference, please check these help articles for more information: Banking in QuickBooks.

 

Let me know if you need further assistance. I'll be right here to help you.

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