Balance sheet by Class - AR by class not netting out correctly due to incorrect payment amounts being allocated

Jven · ‎March 14, 2019

I create invoices with multiple classes and discounts, and when I receive payments against these invoices the amounts classified to the AR accounts do not balance and I end up with positive and negative amounts in my classes.

Eg.

Tuition classed as Admissions $1,000

Sibling discount classed as Admissions ($50)

Daycare classed as ELC $100

When this invoice is created it will debit AR under each balance sheet class, but when the payment is received, the amount that QuickBooks is taking out of the AR accounts does not match the amounts invoiced above. There will be a positive difference left in the Admissions class and a negative difference left in the ELC class, or vice versa.

See attached.

Any help would be appreciated!

PreciousB · ‎March 14, 2019

Welcome to the Community, Jven.

Thank you for providing me with so much detail and a screenshot. Knowing so will help us isolate the problem.

While I'm not sure why payment won't balance to the invoice, you can try drilling the transaction. This will let you see the transaction's breakdown.

Here's how:

Open your Transactions by Account report.
Double-click the invoice and the payment to open.
Once done, please update the figures if needed.

Let me share this article for future references: Accounts Receivable workflows.

Let me know how that works for you. I'd like to make sure that you're able to resolve this concern, so please let me know how it goes by posting a comment below. Best regards.

View solution in original post

PreciousB · ‎March 14, 2019

Welcome to the Community, Jven.

Thank you for providing me with so much detail and a screenshot. Knowing so will help us isolate the problem.

While I'm not sure why payment won't balance to the invoice, you can try drilling the transaction. This will let you see the transaction's breakdown.

Here's how:

Open your Transactions by Account report.
Double-click the invoice and the payment to open.
Once done, please update the figures if needed.

Let me share this article for future references: Accounts Receivable workflows.

Let me know how that works for you. I'd like to make sure that you're able to resolve this concern, so please let me know how it goes by posting a comment below. Best regards.

Jven · ‎March 20, 2019

Hello,

Thank you for the quick response. I realized I had my discounts set up as services, so the information was not pulling correctly. Once i created discounts for the items I was wanting to deduct on the invoice the data pulled correctly

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Balance sheet by Class - AR by class not netting out correctly due to incorrect payment amounts being allocated