How do I split an existing partially paid invoice into 2 different ones that are in different tax years? The remaining balance is for service that has not been completed

Siua · ‎December 30, 2021

Being new to QuickBooks, I sent them a single invoice based on an estimate and instructed them to only pay part for a product order and then pay the rest when I finish the service of installing it. The completion of the service has been delayed into a new tax year, so I don't want to count it in accounts receivable as it has not been completed yet even though the invoice has been sent and is partially paid. So, I am trying to figure out how to separate the estimate charges from a single invoice into two different ones so that I can send a separate invoice for the remaining balance in the new tax year when the service is complete.

Rustler · ‎December 30, 2021

What should have happened is that the partial payment was received against the invoice leaving a balance due.

If you file taxes as a cash based taxpayer then only the partial payment will count toward taxable income

Siua · ‎December 30, 2021

Thanks, but this question is for the accrual method as that is the one where invoice date would affect taxes.

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How do I split an existing partially paid invoice into 2 different ones that are in different tax years? The remaining balance is for service that has not been completed

How do I split an existing partially paid invoice into 2 different ones that are in different tax years? The remaining balance is for service that has not been completed

How do I split an existing partially paid invoice into 2 different ones that are in different tax years? The remaining balance is for service that has not been completed

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