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Level 1

Customer overpaid - how do I carry over the balance?

Total QBO noob here. 


Here's the scenario: a customer overpaid me. When I try to match the payment to the invoice, I get notified that I need to correct the error. I simply want the overpayment to carry over to next month - I don't want to issue another invoice now, since the invoices are done for hourly work and I do not yet know how much time I will spend on this particular customer. How do I go about this? 

Solved
Best answer 09-26-2019

Best Answers
Level 15

Use receive payments, select the invoice and enter the ac...

Use receive payments, select the invoice and enter the actual amount paid

QB will ask if you want to keep the over payment as a credit, or refund it

View solution in original post

8 Comments
Level 15

Use receive payments, select the invoice and enter the ac...

Use receive payments, select the invoice and enter the actual amount paid

QB will ask if you want to keep the over payment as a credit, or refund it

View solution in original post

Level 1

It looks like this may be old advice.  It appears QBO han...

It looks like this may be old advice.  It appears QBO handles this differently now.  If I enter the full amount it flags is as not matching and asked me to enter a resolving entry.  This is where the confusion sets in for me.  I'm guessing I need to record a credit, but I don't know how to do that.
Level 10

don't use the bank feed. Click the "+" on top right then...

don't use the bank feed. Click the "+" on top right then Receive Payment. At the bottom it will say "This transaction will create an additional credit"
Level 1

Is it possible to create a credit memo to send to the cus...

Is it possible to create a credit memo to send to the customer for the "additional credit'?  The customer wants me to send them a credit memo. I can't figure out how to get this additional credit into a memo
Level 10

The credit already exists, so don't create another credit...

The credit already exists, so don't create another credit. send a statement
Level 1

Statement is showing $0 - this in-spite of adding in full...

Statement is showing $0 - this in-spite of adding in full amount that customer had paid.
Level 2

Re: don't use the bank feed. Click the "+" on top right then...

If we don't use the bank feed how do we then clear up the bank feed? 

QuickBooks Team

Re: don't use the bank feed. Click the "+" on top right then...

You can manually clear the transactions in the bank register, essiev. 

 

I've got the steps here:

  1. On the left panel, click Accounting and select Chart of Accounts.
  2. Find the bank account and click the Account history link under the Action column.
  3. Click the Funnel icon above the Date column, and select the date you want to clear.
  4. Click the Apply button.
  5. Select the transaction and click the Reconcile status field (Indicated by a check mark) until it shows the letter C=Clear.
  6. Click Save.

Here's a sample screenshot for reference:

 

 

After clearing all of the transactions, you can start reconciling the account

 

If you need more assistance, let us know and we will help you further. Thanks.