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DebTX
Level 1

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

 
9 Comments 9
MaryLandT
Moderator

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

Good day, @DebTX,

 

There isn't a need to create a credit memo for the overpayment. QuickBooks automatically creates a credit for your client. Just make sure to match the invoices with the downloaded transaction on your bank feeds. Then, resolve the difference to adding another transaction and use the Account Receivables for the account.

 

Let me walk you through on how to accomplish this:

 

  1. Select Banking from the left pane.
  2. Choose the bank where the check was deposited to.
  3. Go to For Review, then click the transaction.
  4. Select Find match to bring up the deposit. matchtransaction1.PNG
  5. Select the payment, then turn on Resolve Differencematchtransaction2.PNG
  6. Select the customer from the Payee drop-down menu.
  7. Select Accounts Receivables from the Category drop-down menu. matchtransaction3.PNG
  8. Click Save to add the deposit on your register.

Once done, you can check the transaction list of your customer. You'll see a negative balance which you can use or apply on to the next transaction.  matchtransaction4.PNG

 

To learn more about downloaded transactions, feel free to read through here: Add and match downloaded banking transactions.

 

Should you have any other concerns with your bank transactions or payments in QuickBooks, please let me know. I'd be glad to help.

AnnaD26
Level 1

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

thank you!!!! I was looking for this everywhere !!!!!

AnnaD26
Level 1

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

Hello. do you maybe know then how to match or record deposited check for multiple costumer's invoices where 2 invoices are paid to us but they belong to old owner and money should be paid back to him. How to match deposited check and how to record payment to him after?

 

Thank you

JamesDuanT
Moderator

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

How are you doing, Anna? 

 

Just like what MaryLandT said, you can easily match the 2 invoice payments to the bank deposit. You can follow the steps that she provided on the earlier reply.

 

Then, we can create a check to return the amount to the previous owner.

  1. Click the Create menu (+) and select Check.
  2. Leave the Payee field blank.
  3. Select the affected Bank Account and enter the Payment date.
  4. Go to the Category details section.
  5. Enter the income account in the CATEGORY column.
  6. Add a note that this check is a payment for the previous owner.
  7. Enter the amount.
  8. You can leave a Memo if necessary.
  9. Click Save and close.

I'd also recommend asking assistance from your accountant about this. They might be able to provide other options that will suit your business setup.

 

Feel free to let me know if you have other concerns.

AnnaD26
Level 1

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

Thanks JamesDuanT .

It looks like I will do as you recommended.

Tell me only, when the old owner receive and clear the check and in bank I got transaction to be match with that amount, how will go with that. 

I usually use handwritten check and matching payments/deposits directly from the QB Online banking.

Thank you for your time, you are so helpful.

 

 

AlcaeusF
Moderator

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

Hi AnnaD26,

 

Thank you for getting back to us here in the Community. I'm here to assist you with your concern about matching them in QuickBooks Online.

 

When receiving payments from several invoices, please make sure to choose the Undeposited Funds account. By doing so, you'll be able to select all the payments and make a deposit for them all together.

 

For more insights on how this works, I'm adding the article I find helpful on this:

 

Deposit payments into the Undeposited Funds account.

 

To successfully match the transactions from Bank Feeds, you can proceed with following the steps provided by my colleague above. In case you need to seek assistance from our Support Specialists, I'm also adding the support link down below:

 

Contact the QuickBooks Online Customer Support team.

 

I'm always here if you have further questions with matching the transactions. The Community has your back anytime.

AnnaD26
Level 1

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

AlcaeusF thank you for your assistance. 

 

Good to have all of you around.

Have a nice weekend!

AlcaeusF
Moderator

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

Hi there, AnnaD26.

 

Let me start by saying how much we appreciate your intent to learn through the Community.

 

In case you need help in the future, I recommend the link below as it's a hub of articles to assist you with using the QuickBooks Online product:
 

https://quickbooks.intuit.com/community/Help-articles/ct-p/help-articles-us?label=QuickBooks%20Onlin....

 

Please remember that I'm always available whenever you need further help with matching transactions. The Community will not hesitate to provide a helping hand.

AZFB
Level 2

Customer overpaid an invoice on a check for multiple invoices. How do I create a credit memo using the over payment on downloaded matched transaction?

The response to this question seems to be "There isn't a need to because QB creates a credit on the customers account." When a customer asks for a credit memo, how do I create one from the overpayment on their account 

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