Hi, I received a lump sum payment once a month, I posted it as Debit Cash, Credit Unearned Revenue. When the actual sales turned into the invoice, I received payment for the invoice in the QB desktop " customer payment" section. I chose the payment method added "unearned Revenue". I was thinking when I clicked the invoice # with $ amount, the payment will automatic came out from the Unearned Revenue account, but it did not work. Please help. I am using QB enterprise. Thank you.
Thank you for posting here in the Community. I'd be glad to lend a hand with the customer payment in QuickBooks Desktop.
When recording the payment and posting the Unearned Revenue account, there are two ways to collect the payment. You can either enter the upfront deposit/retainer as a line item on an invoice or a credit to the customer.
I recommend following the steps on the article I'm adding below to ensure the process is correct and will lead to the correct posting:
If you're still unable to succeed with the desired outcome, I recommend reaching out to our QuickBooks Support Specialists. One of them will be able to further guide with recording the lump sum payment.
Here's how you can reach them:
Open QuickBooks Desktop.
Click the Help tab at the top menu bar.
Select QuickBooksDesktop Help.
Click the Contact us hyperlink.
As always, I'm available for any additional questions you may have concerning the lump sum payment. The Community has your back.