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jlywelcome84
Level 1

I started Quick Books in February 2019 and I have invoices that have been paid in January 2019. Deposits were included in QB but not invoices. How can I add invoices in?

 
3 Comments 3
BettyJaneB
QuickBooks Team

I started Quick Books in February 2019 and I have invoices that have been paid in January 2019. Deposits were included in QB but not invoices. How can I add invoices in?

Hey there, @jlywelcome84.

 

Thanks for allowing QuickBooks to serve you with your accounting needs. I'd be happy to walk you through with adding paid invoices in QuickBooks Online. 

 

You'll need to create an invoice and enter the original invoice date. Once done, you can link the deposit to the open invoice.

 

Let me show you how:

  1. Select the Plus icon (+) on the Toolbar.
  2. Under Customers, choose Invoice.
  3. Select the name of the Customer from the drop-down list and enter or verify customer information.
  4. Select the Terms for the invoice from the drop-down list.
  5. Verify the Invoice date and the Due date.
  6. Select the item or service being billed for from the drop-down list in the Product/Service column, and enter information about the item, including the Amount and any Tax.
  7. Specify any applicable Sales Tax Rate or Discount in the appropriate fields.
  8. Click on Save and Close.

You can read through this article about creating an invoice in QuickBooks Online: How to create an invoice.

 

After that, you'll need to find the deposit and link it to the open invoice.

 

To do that:

  1. From the left menu, select Accounting.
  2. Select Chart of Accounts under the Toolbar.
  3. Find the account you deposited the payment to, then select View Register.
  4. Locate and choose the correct deposit.
  5. Select Edit.
  6. On Bank Deposit screen, scroll down to Add funds to this deposit, then find the fund you need to edit.
  7. In the Received From column, search and choose the appropriate Customer name.
  8. In the Account column, search and select Account's Receivable.
  9. Select Save and close.

You may also check out this article about linking a deposit to an invoice for your future reference: How to link a deposit to an invoice.

 

Here's a helpful link that you can visit about working with QuickBooks Online: QuickBooks Tutorials.

 

These resources should help you add your invoices.

 

Please know that you've got me here in the Community if you have any other QuickBooks concern. Wishing you and your business continued success!

ParkwayInc
Level 6

I started Quick Books in February 2019 and I have invoices that have been paid in January 2019. Deposits were included in QB but not invoices. How can I add invoices in?

Hi @jlywelcome84 ,

 

Hoping to help answer your question, Lynda and I created a video demonstrating how to add invoices into QuickBooks Online after the deposit revenue had already been accepted into the bank feeds.

 

 

 

 

 

Question Assumptions:

  1. Cash Basis Accounting
  2. Prior period invoices are from the most recent year (2018 at the time of this posting) and the financials have not been closed and taxes have not been filed.
  3. All transactions have already been pulled in via the QuickBooks Online Bank Feeds.

The Workflow Steps:

  • Create new invoices in QuickBooks Online:

    • Assign the proper dates on the invoice
  • Apply payments for each of the invoices:
    • Date after the Invoice Date
    • Funds deposited to Undeposited Funds
  • Pull up a Deposit Detail Report:
    • Assuming that each invoice amount was deposited individually, find the total that matches the amount of the invoice and payment that you just created. (In the video example this total was $6732.60)
  • From the Deposit Screen:
    • Click on the transaction that had been previously been accepted in the bank feeds
      • Scroll through the list of items and find the transaction you just entered to locate the payment of $6732.60.
      • Select the check box of that transaction.
      • Scroll down to the bottom of the deposit page and locate the additional line item listed which will be the same amount.pasted image 0.png

         

 

    • Select the trash can icon on the right side to delete the existing transaction.
    • Review the total deposit amount to verify the deposit total matches the original amount ($6732.60) before accepting the change and moving on to the next transaction.

The Intended Goal:

The goal we are trying to accomplish from this step is to swap out the bank feed transaction amount with the new deposit that was just added when you applied payment to the invoice.  This method will help ensure that you do not overstate your revenue by accident.

 

Note: It is very likely that you will run into deposits that have multiple check payments being deposited at the same time. In this scenario, it will be necessary to repeat this process for each check that was included in the deposit until the total of the checks matches the actual amount deposited into the bank.

 

 

Let us know if you have any additional questions or are unclear about any step of the process! We are here to help!

 

Lynda Artesani - Artesani Bookkeeping

Matthew Fulton - Parkway Business Solutions

lynda
Community Champion

I started Quick Books in February 2019 and I have invoices that have been paid in January 2019. Deposits were included in QB but not invoices. How can I add invoices in?

Hi @jlywelcome84 :

 

On a side note, it is not a good practice to connect a deposit to an invoice.  You want to connect it to the payment as an invoice is a "request for payment" but it is the customer payment that is deposited into your bank.  Or match the deposit.  But never the invoice.

 

@lynda Artesani

Artesani Bookkeeping 

 

and

& Matthew Fulton @ParkwayInc 

Parkway Business Solutions & Vendorsync

 

 

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