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  #1  
Old 05-18-2002, 02:36 PM
kandrea kandrea is offline
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Accounts receivable report

On my balance sheet my accounts receivable balance shows up as a credit balance (and it shouldn't). So when I drill down on the amount it shows that all the payments are entered twice. I always use "receive payements" and then "make deposits". Does anyone know what I could be doing wrong? Also, when I look at the individual customer registers the balances are fine and also in the chart of accounts the balance seems correct.

Help please. I need to complete my tax return. Many thanks for any suggestions.
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  #2  
Old 05-19-2002, 04:03 PM
Joey Joey is offline
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When you Receive Payments, are you checking the box to put into Undeposited Funds? Then when you Make Deposits, does the list of payments come up to choose which ones are in the deposit?
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  #3  
Old 05-20-2002, 06:03 AM
PaulGD PaulGD is offline
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I may be wrong, but you appear to be entering the money received twice.

Using the Receive Payments screen and choosing the invoices the customer has paid is the only step necessary in this process. If you can't allocate the payment to specific invoices, cancel the automatic suggested allocation and leave some or all of the receipt as "unused". This will accept the payment on to the correct customer account (so his overall balance will be right) but leave it unallocated so you can allocate it at some future date.

There's no need to use the Make Deposits screen in processing customer payments unless there is a very special reason - eg an up-front payment for work not invoiced yet. Make Deposits is best regarded as a way of getting "unusual" receipts into your bank, not for routine stuff like Customer Payments.

Quickbooks Help is quite useful on this subject.

Hope this is helps.

Last edited by PaulGD; 05-20-2002 at 06:08 AM.
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  #4  
Old 05-20-2002, 09:22 PM
kandrea kandrea is offline
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Accts. Receivable report problem

Yes, I use the "group with other undeposited funds" so that my deposits match the bank statement. If I am only depositing one payment I will use the "deposit to the bank account" button, but usually it's always several payments.

Does that answer the question about why use the deposits window that another person asked? That's the reason, so the deposits match the bank statement when you do the reconciliation.

Since the individual customer registers are correct, I know that double payments aren't getting posted. This is a mystery.

Any other suggestions would be appreciated. Thank you.
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Old 05-21-2002, 08:37 AM
PaulGD PaulGD is offline
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Ok - I see why you go to the make deposits screen. We post straight to the bank account and reconcile the individual payments using the bank paying-in slip to give us a total, but I can accept that your method should be perfectly valid.

If you cut the process down to the minimum and deposit one customer payment directly to the bank account in the Receive Payments Screen (therefore without going through the make deposits screen) what effect does this have on the A/R balance? Is the change still double what you expect?

Also what happens when you reconcile the payment using the bank reconciliation screen?

When you look at the Balance Sheet, then drill down to the A/R account, if the amount you've just posted is there twice, then something is wrong. If you extend the date range for the transaction report so that the invoice the customer has paid is also included, then filter it so that only that customer's transactions are shown, you should see clearly what has happened (there should be a b/fwd balance, and a matching credit and debit amount then a c/fwd balance).

If you know how to do it, you could do some postings in a test (or "sandbox") data file then you can experiment until you find out what's going wrong. As far as I know, Quickbooks does work properly in the Receive Payments area (unlike some other functions!)

Last edited by PaulGD; 05-21-2002 at 09:43 AM.
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  #6  
Old 05-21-2002, 11:07 AM
Joey Joey is offline
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Kandrea, you're doing the payments correctly the way you are doing it now. Look at your invoice items and be sure that you haven't entered your checking account in the spot where it asks for the account. You should have selected your income account there. The next thing would be to close all windows and go to Utilities, and Verify your data file.
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  #7  
Old 05-23-2002, 12:07 AM
kandrea kandrea is offline
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Accts. receivable problem

Joey, thanks. I have my items set up to credit "service income" so that looks right.

I posted some payments yesterday and brought up the balance sheet and drilled down on the a/r amount. It showed that all of the payments were entered twice expect one. I went back and looked at that one and I hadn't put the check mark on the one open invoice that was being paid. So any ideas?

Also if I go into the chart of accounts and look at the a/r register it looks perfect. No double payments at all. And the customer registers are correct, too.

I go to a user's group on occasion and the CPA that leads the group suggested that I verify the data which I did with no improvement.

Any more suggestions?
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  #8  
Old 05-23-2002, 02:53 AM
PaulGD PaulGD is offline
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Does the same thing happen if you do the test on a clean sample file?

Can you get access to another computer where you can install QB, and play in a completely clean environment? First with the sample file, then with your own data.

You need to find out if you have a program fault, a data corruption, or whether this is a procedural error.

Good Luck

Last edited by PaulGD; 05-23-2002 at 03:00 AM.
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  #9  
Old 05-23-2002, 10:04 AM
Terry Terry is offline
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If your sales item posts to a balance sheet account and you run a cash basis balance sheet, you will get the exact errors and drill down reports you've described.

Double check the account type on "Service Income" and make sure it says "Income". (When you set it up it defaults to "bank" as the account type and I often see clients fail to change it)

When you run your Balance Sheet make sure its set to "accrual" basis.
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  #10  
Old 05-23-2002, 10:51 AM
Joey Joey is offline
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The only other time I have ever seen this happen is when the payment date was earlier than the invoice date. Sometimes the customer has prepaid or, once I had another client that had forgotten to enter the invoice and entered it later with the later date.
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  #11  
Old 05-23-2002, 08:25 PM
james-ca james-ca is offline
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What's your location - USA or Australia?

If Australia, (WA = western australia...) then are you using an early GST version of QB? If so, there were a number of bugs, not that Intuit will admit it, so you should update your version to the latest.

Regards
Mike
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  #12  
Old 06-09-2002, 04:12 PM
kandrea kandrea is offline
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Smile Accounts receivable report problem

Okay, back to this. I finally have had time to explore and I finally noticed that I can select "accrual" basis when viewing the balance sheet under Reports, Financial, Standard balance sheet. That shows the correct A/R balance and only displays the payments once! I knew I wasn't entering them wrong! It also agrees with the balance in the chart of accounts and the individual customers registers.

Thanks, eveyone for your help with this. It was a good excercise!
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