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Nataglia
Active Member

QBO Invoicing - Multiple Receivable Accounts

Hello, when creating an invoice (receivable) in QBO, am I able to change the receivable account that the invoice goes in? At the moment it seems to automatically go into our main/first AR account, but we have multiple AR accounts to track earned receivables vs contributions and would prefer to choose which one the invoices go into.  

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Eman_E
QuickBooks Team

QBO Invoicing - Multiple Receivable Accounts

QuickBooks Online (QBO) has a default account that includes Accounts Receivable A/R thus when creating invoices it will automatically associated with the default A/R. These are the ones created when you set up your company, Nataglia. I'll elaborate more about this matter.

 

If you want to transfer to the A/R account that you created you can create a Journal Entry to transfer the payment and then apply it to the correct invoice using the Receive Payment feature. 

 

Here's how:

 

  1. Sign in to your QuickBooks Online account.
  2. Select + New and click on Journal entry.
  3. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  5. Check the amounts, you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
  6. Enter information in the memo section so you know why you made the journal entry.
  7. Once done, click on Save and new or Save and close.

 

After this, we can apply the correct invoice to receive that payment, connecting it to the invoice to balance your accounts.

 

For more information you can check out this article: Fix a payment applied to the wrong invoice in QuickBooks Online.

 

When everything is in place, you can utilize this article for future reference: Reconcile an account in QuickBooks Online. This link can walk you through the steps in matching your accounts effectively.

 

Please let me know if you need further clarification about this, or if there's anything else I can do for you. I'll be standing by for your response. Have a great day.

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BigRedConsulting
Community Champion

QBO Invoicing - Multiple Receivable Accounts

@Nataglia  RE: Hello, when creating an invoice (receivable) in QBO, am I able to change the receivable account that the invoice goes in?

 

No, not with QuickBooks Online. You can of course do that with QuickBooks Desktop. With Desktop, when you have more than one A/R account you can pick the desired account for invoices, credit memos, payment, and so on.

 

However, with QuickBooks Online, while you can create multiple A/R accounts, QuickBooks will only use one for A/R transactions - the one it created.

 

It's one of the many hundreds of sometimes weird QuickBooks Online limitations when compared to QuickBooks Desktop.

View solution in original post

3 Comments 3
Eman_E
QuickBooks Team

QBO Invoicing - Multiple Receivable Accounts

QuickBooks Online (QBO) has a default account that includes Accounts Receivable A/R thus when creating invoices it will automatically associated with the default A/R. These are the ones created when you set up your company, Nataglia. I'll elaborate more about this matter.

 

If you want to transfer to the A/R account that you created you can create a Journal Entry to transfer the payment and then apply it to the correct invoice using the Receive Payment feature. 

 

Here's how:

 

  1. Sign in to your QuickBooks Online account.
  2. Select + New and click on Journal entry.
  3. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  5. Check the amounts, you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
  6. Enter information in the memo section so you know why you made the journal entry.
  7. Once done, click on Save and new or Save and close.

 

After this, we can apply the correct invoice to receive that payment, connecting it to the invoice to balance your accounts.

 

For more information you can check out this article: Fix a payment applied to the wrong invoice in QuickBooks Online.

 

When everything is in place, you can utilize this article for future reference: Reconcile an account in QuickBooks Online. This link can walk you through the steps in matching your accounts effectively.

 

Please let me know if you need further clarification about this, or if there's anything else I can do for you. I'll be standing by for your response. Have a great day.

BigRedConsulting
Community Champion

QBO Invoicing - Multiple Receivable Accounts

@Nataglia  RE: Hello, when creating an invoice (receivable) in QBO, am I able to change the receivable account that the invoice goes in?

 

No, not with QuickBooks Online. You can of course do that with QuickBooks Desktop. With Desktop, when you have more than one A/R account you can pick the desired account for invoices, credit memos, payment, and so on.

 

However, with QuickBooks Online, while you can create multiple A/R accounts, QuickBooks will only use one for A/R transactions - the one it created.

 

It's one of the many hundreds of sometimes weird QuickBooks Online limitations when compared to QuickBooks Desktop.

Nataglia
Active Member

QBO Invoicing - Multiple Receivable Accounts

Seemed that was the case but wanted to confirm, so thank you!

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