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kwaite
Level 1

Invoices

I have a client that receives one payment that covers multiple different client invoices.  How do I apply these payments?

For example, they received an ACH deposit for $1000.  This deposit covers invoices for Client A in the amount of $250, Client B in the amount of $200, Client C in the amount of $550; How do I apply this to clear out these invoices.  Currently they are depositing the money to as a separate client so the money just sits there and never clears anything out.

3 Comments 3
AlcaeusF
Moderator

Invoices

Hello @kwaite,

 

Welcome to the Community. I can share some information about how to clear the invoices in QuickBooks.

 

Currently, the option to link a deposit to multiple different client invoices is unavailable. You'll need to enter the payments manually and deposit them into the Undeposited Funds account.

 

This way, you'll be able to merge and deposit them as a single ACH transaction on your register. Before you start, I suggest deleting the deposit showing as a separate client in the system.
 

To delete:

 

  1. Click the Gear icon in the upper-right corner.
  2. Select Chart of accounts.
  3. Search for the account.
  4. Hit View register.
  5. Click the deposit sitting in the register.
  6. Press Delete.

 

Once done, you can go through each invoice and make a payment. Here's how:

 

  1. Open the invoice.
  2. Click Receive payment in the upper-right corner. 
  3. Choose Undeposited Funds under Deposit to
  4. Hit Save and close.
  5. Repeat the same steps for the other invoices.

 

After recording the payments, your transactions should now reflect in the Undeposited Funds account. The next step would be to enter them into your bank account as a single ACH deposit.

 

Please follow these steps:

 

  1. Click the + New option in the upper-left corner.
  2. Select Bank deposit under Other.
  3. Choose the bank account.
  4. Put a checkmark on the payments you want to show as a single deposit. 
  5. Hit Save and close.
  6. Check the bank register. 

 

I've also attached an article you can use to learn how to apply a bank deposit to multiple invoices for a single client in QuickBooks: How to link a bank deposit to an invoice.

 

Fill me in if you have additional questions about the process in QBO. I'm always here to help. Take care always.

kwaite
Level 1

Invoices

Thank you for your help.  Let me shed a little more light on my situation.  This is a new to me client and they have not been using QBO correctly for many years.  The Client account that is only receiving deposits has transactions that go back to 2015 that I need to clear, but no invoices in that clients' name to go with the deposits.  

Also, if I delete the deposits that have come through the bank feed, will that not affect the reconciliations?

 

 

RenjolynC
QuickBooks Team

Invoices

Thanks for adding some details on your current situation, kwaite.

 

When you're unable to find any matching invoices for this deposit, it's possible that the transactions are already reconciled. 

 

You'll want to run the Transaction Detail by Account and customize the report to view the reconcile status and filter it by clients.

 

Here are the steps:

 

  1. On the left panel, click Reports.
  2. Type Transaction Detail by Account in the search field.
  3. Set the Report period and click the Customize button.
  4. Go to the Rows/Columns section and put a check mark on the Clr column.
  5. Go to the Filter section and select the clients from the Customer drop-down menu.
  6. From the Transaction Type drop-down, choose Invoice.
  7. Select Reconciled from the Cleared drop-down.
  8. Hit Run report

If the invoices are already reconciled, then there's no need to add the deposit that is showing up in the For review tab of the Banking page.

 

What you can do is to exclude the deposit. Note: Deleting a transaction that is still in the For review page will not affect the previous reconciliations. 

 

Before doing so, I recommend consulting your accountant for advice if you're unsure about the process.

 

To delete, you must exclude the transaction first.

 

Here's how:

 

  1. Go to Transactions > Banking.
  2. In the For review tab, put a check mark on the deposit and click the Exclude button. 

Finally, go to the Excluded tab and delete the deposit from there.

 

To learn more about adding the downloaded transactions, reconciliation, different reports, and how you can customize them, check out these articles:

 

Please let me know if you have any additional questions about the information I've shared. I'll be around to help you out again. Have a good day ahead. 

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