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Level 1

Matching recurring invoices and recurring sales receipts

I have a client for whom I have set up a recurring invoice.  She wants to have a copy of the invoice sent to her at the beginning of the month.  The payment is due on the last day of the month.  So, I want to set up an automatic payment of that invoice so that she doesn't ever have to manually make the payment.  I understand I can do that with a recurring Sales Receipt.  However, I think that I will be charging an income account twice if I create a recurring invoice as well as a recurring Sales Receipt.  How does this work so that the monthly payment (via her credit card) will not hit the sales account twice?  Do I use Accounts Receivable as the account to charge on the Sales Receipt?  Need some help fine tuning this.  Thanks!

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QuickBooks Team

Matching recurring invoices and recurring sales receipts

Hello, LindaCPAMom.

 

You'll have to choose between an invoice or sales receipt to avoid double income. Though, both recurring transactions will still follow the date on the template to when it will be sent to the customer. We're unable to set them to be sent first before the payment due.

 

We'd appreciate it if you could let us know about your preferences by sending feedback. Your suggestion goes to our Product Development team to help us improve our system. You can do that by clicking the Gear icon, then choosing Feedback.  

 

We'd love to hear your insights and suggestions. Let me know if you have any other concerns. I'm here anytime you need assistance with QuickBooks.

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Level 1

Matching recurring invoices and recurring sales receipts

I think I will have to do a workaround then, by setting up a recurring journal entry on the date of the sales receipt, debiting the income account and crediting "Uncategorized Asset", which I've set up as a "dummy" bank account.  Then, when I receive the payment, I will use the same "Uncategorized Asset" account as the bank account in which the payment is deposited.  This way I won't double up on my income, and I won't double up on my deposits.  It would be nice if there was a feature that could have recurring "receive payment" transactions for something like this, but I suppose that would be hard for the system to know which invoice of the customer to apply the payment to.

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