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LWAY1
January 27, 2021
Question

Payment showing on AR Aging Report

  • January 27, 2021
  • 17 replies
  • 147 views

When I run our AR Aging report a payment is listed among the invoices. See attachment. $7030.47 was paid via QB as a deposit.  The invoice is $14,060.94 total, so w/ a $7030.47 deposit paid, it therefore should show as $7030.47 open.  We happened to change our bank account for QB deposits that day so I thought it may be linked to that.  So I went & choose "undo" to the matching of the bank feed transaction & redid it but nothing changed.  This payment was 1 of 3 w/in QB deposit transaction but the other 2 payments aren't showing on the AR report.  Any guidance would be appreciated.  Thank you.

 

17 replies

Klent
Level 8
January 27, 2021

I can guide you in resolving this issue, LWAY1.

 

It could be that the deposits are not affecting your accounts receivable account that's why they're not showing on your A/R Aging Detail report. To fix this, you'll have to locate and edit the deposits. Then, link them to your open invoices to ensure that your records are accurate and error-free.

 

Here's how to edit the deposit:
 

  1. Select Accounting from the sidebar menu.
  2. Go to Chart of Accounts.
  3. Find the account you deposited the payment to, then click View Register from the Action column.
  4. Locate and click the appropriate deposit to expand the view, then select Edit.
  5. On the Bank Deposit screen, scroll down to Add funds to this deposit, then find the fund you need to edit.
  6. In the Received From column, search and choose the correct customer.
  7. In the Account column, search and select Account's Receivable.
  8. Click Save and Close.

Once the deposit entry is updated, it's time to apply it as an invoice payment. I'll show you how:
 

  1. Click the + New button.
  2. Under Customers, select Receive Payment.
  3. Select the Customer's name. You should now see all open customer invoices and outstanding credits.
  4. Add the Payment date.
  5. Under Outstanding Transactions, select the Invoice you need to mark as paid.
  6. Under Credits, select the deposit entry.
  7. Click Save and Close to complete the process.

Additionally, here's an article that you can read to help track all invoices that are due on a particular day or date range: Due invoices report.

 

If I can be of any additional assistance, please don't hesitate to leave a comment below. I'll be more than to help you again.

LWAY1Author
January 28, 2021

Thank you for the reply.  But when I go to the add funds section it is blank - the top portion labeled quickbooks payments is where all the deposit info is showing.  So I am unable to follow your directions.  Also, if I go to receive pmt for this customer the correct open balance is showing for that invoice.  So the payment has posted at least somewhat properly if the correct open balance is showing right?  Do you have any other recommendations? Thanks!

LWAY1Author
January 29, 2021

Hey there, @LWAY1.

 

I appreciate the additional details that you've shared. Let me provide the reason behind the negative amount that's showing up on the A/R aging report.

 

In QuickBooks Online, the negative balances mean the customer has overpaid compared to what you have billed them. In this case, it would be unusual to have open invoices. Thus, there are likely open/unapplied payments due to the overpayment state the customer is in.

 

You don't need to delete those deposits but instead, you can generate an invoice and apply the payment afterward. This way, all of the negative amounts from your deposits will be removed from the A/R Aging report. 

 

Once you're done creating the invoice, you can now link it to the payment. 

 

To do that:

  1. Press on +New.
  2. Select Receive Payment. 
  3. In the Receive Payment window, choose a customer.
  4. Enter the date when the payment was made. 
  5. Under the Outstanding Transactions section, put a check mark on the invoice you want to pay.
  6. In the Credits section, select the credit or deposit.
  7. Hit on Save. 

To give you more insights regarding managing customers overpayment in the system, feel free to check out this link: Learn what to do in QuickBooks Online when a customer overpays you.

 

I'll be around to help if you need further assistance. Have a good day. 


No, the customer has not overpaid us.  They have paid half of their bill & still owe us the other half.  There must just be a strange glitch in QBO that's causing the AR report to list the payment transaction rather than the invoice transaction.  Hopefully when the customer pays the remainder this issue will go away.

ilesh kadakia
October 5, 2021

I enter payment in Quick books . My contract is Senior whole health. I enter payment half amount is credited agains invoices and half amount not adjusted against Invoices and my aging summary of 90 days shows credit balance.

MadelynCModerator
Moderator
October 5, 2021

I’m here to help and provide information to you, Ilesh.


There are many different reasons why you could be left with a credit balance in Account Receivable. Whether due to an error in your original invoice, overpayments, or unapplied payments.


You can review your transactions. Make sure the payment you entered is applied to the invoice properly. Check out the date and the status of the invoice. It should be marked as Paid in the All Sales tab. I’ll show you how:

 

  1. Select the Sales menu.
  2. Go to the All Sales tab.
  3. Locate the invoice.
  4. Check the status and payment link to the invoice. QuickBooks automatically mark the payment as Closed if it’s totally applied against the invoice.


You can visit this guide to learn more about recording and receiving payments to invoices: Record invoice payments in QuickBooks Online.


Also, here’s an article that contains useful information about accounts receivable in QuickBooks: What are accounts receivable? It gives you tips on how to manage receivables efficiently.

Please let us know if you have more questions or concerns with payments or reports. We’re always here to help. Take care!

Curtis15
October 22, 2021

I have the same issue going on right now.  I have chatted with QB and gotten no resolve.  The invoice is marked as "paid" on the sales list you suggested looking at.  The payment shows on my aging report as a negative.  This is obviously an issue and needs to get a resolution.

ilesh kadakia
October 5, 2021

can you call me on [removed]

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