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Level 1

ACH Sales Receipts vs. Accrual Invoicing - double posting

I have accrual invoicing set up for automated clearing house customers, but have to use the Sales Receipt in order for them to run on a recurring basis.  This in turn creates double revenue in the customer account.  Do I delete the Invoice or the Sales Receipt?

3 Comments
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Moderator

ACH Sales Receipts vs. Accrual Invoicing - double posting

Hello there, @Accounting2535.

 

I'd love to share with you some information about handling double revenue in QuickBooks Online (QBO).

 

Yes! You can delete either the Sales Receipt or Invoice to remove the duplicate as well as to avoid creating a double revenue in your customer’s account. Let me guide you how to delete a transaction in QuickBooks.

  1. Open the transaction (Sales Receipt or Invoice).  
  2. Click More.
  3. Once done, select Delete.

Let me know if you have additional questions about double posting in QBO. I'm always here to help.

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Level 15

ACH Sales Receipts vs. Accrual Invoicing - double posting

You made invoices, for the Accrual Aspect? Then deleting them would be your error, of course. In Accrual Basis reporting, the date of the Charges matters to you. If that didn't matter, you would stop using invoice entirely; making them to delete them makes no sense. Just stop using them.

 

Otherwise, you seem to want to use recurring Invoices? You didn't state who initiates the ACH: you are them. I have 41 ACH invoices that are dated end of month, and I initiate the batch ACH around the 10th (Nov 13th, this time). In that example, the download banking has one lump value that I match to each of the 41 open invoices, to allocate that total ACH transaction.

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Anonymous
Not applicable

ACH Sales Receipts vs. Accrual Invoicing - double posting

 Using invoices for orders are useful for us to track multiple orders and their due. Using the app is suppose to ease our workload. Hope you can do something about. It becomes a a hassle to track only to find the end of the financial year is time consuming for business owners.

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