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VMAFINANCE
Level 1

SALES RECEIPTS SHOW AS OPEN BALANCE

Quickbooks Desktop - So I recently began using 'sales receipts' in cases where the payment is received before the sale has been recorded as a work around to eliminate the steps of creating an invoice, receiving payment and making the deposit.  It has been extremely efficient but with one issue; reports reflect an 'open balance' despite the payment information reflected on the sale receipt and posted to the undeposited account to make the offsetting deposit.  The accounting and financial reports are accurate until you try to filter for 'open balances' and then it will include all the sales receipts.

 

i have researched other posts but it doesn't appear anyone has used it in this way.  i was able to find one posting about recording the sales receipt and then applying it to the payment which doesn't make sense if your recording the payment already within the sales receipt?

 

Any recommendations to correct the issue or a work around to mark the sales receipt 'paid'

5 Comments 5
Adrian_A
Moderator

SALES RECEIPTS SHOW AS OPEN BALANCE

Let's try running the verify and rebuild steps, VMAFINANCE.

 

This is to isolate what causes the sales receipt to show as open balance on the report. Let me guide you how:

 

  1. Click the File menu.
  2. Select Utilities and then Verify Data.

 

If you see a specific error message, you can search for it in our Help page. If you see, Your data has lost integrity, you'll have to rebuild the program.

 

Afterward, let's try opening the report again and check to see if the transactions disappears on the report.

 

I've also added this reference for more information with recording sales receipt: Create sales receipts.

 

I'm just a post-away if there's anything that I can help. Keep safe!

BigRedConsulting
Community Champion

SALES RECEIPTS SHOW AS OPEN BALANCE

This is normal. All transactions (or most all) show an open balance in reports until they are paid, even if they can't actually be paid.

 

QuickBooks has always worked this way, so I've no idea why Intuit @Adrian_A  has proposed that there's something wrong with your data.  This isn't in any way a sign of data damage.

 

 

 

 

PrimeNumber3
Level 1

SALES RECEIPTS SHOW AS OPEN BALANCE

Thanks for the confirmation that an open balance for the Sales Receipt is normal but I need to resolve this.  How we've been using it is a fast way to right up a retail sale in our showroom.  The Sales Receipt allows us to select an item, charges tax, and process payment all from one screen.  Big problem is that when we go to review AR, Sales Receipts show as an open balance which is not correct because they were paid.  This should be how this function works.  Are we doing something wrong or is this a useless function and we should go through all the steps of an Invoice and Receive payment?
Thanks for your help.

SarahannC
Moderator

SALES RECEIPTS SHOW AS OPEN BALANCE

Hello there, @PrimeNumber3.

 

The sales receipt is an on-the-spot transaction that should normally view as a non-open balance. If you haven't tried deleting and creating the sales receipt, I recommend doing so. This helps you generate reports on what's your transaction is. Here's how:

 

  1. Go to the Customers menu.
  2. Click Find under the Main section.
  3. Then, enter your customer's name or other information that's the system will easily determine.

 

Once done, create the sales receipt with the same amount and details.

 

Afterward, you can run the A/R report to check and verify if the sales receipt is not showing an open balance.  Also, make sure to set the correct dates and modify the report to the details you need.

 

The Invoice and Receive Payment feature will apply if your customer will pay you the amount in the future.

 

If you're looking for more details about handling reports in QuickBooks Desktop, I've collected some articles where you can use for additional insights:
 

 

Let me know how recreating the sales receipt goes by commenting below. Take care and stay safe always.

PrimeNumber3
Level 1

SALES RECEIPTS SHOW AS OPEN BALANCE

Thank you for the clarification that while Sales Receipts show as open on the Customer account, they do not come up as an open balance on the AR Aging report.

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