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  #1  
Old 05-26-2016, 07:09 AM
Wincar Wincar is offline
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Getting overpayments into Quickbooks

Hi,

I've got a customer who set up a standing order for a new regular payment before we had started issuing invoices, and he has paid the first couple at a penny more than we have now charged due to VAT rounding differences.

My question is how to get the payments into Quickbooks, as they are sat in the bank feed but I can't allocate them as they are a penny more than the invoices, which is stopping me from reconciling the account.

I assume that the customer will adjust a future payment to account for this, so I want them to still be available, but it's how to handle it in the mean time!

Any help gratefully appreciated
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  #2  
Old 05-28-2016, 10:59 AM
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LauraD LauraD is offline
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Customer Prepayments

Instead of matching the downloaded transaction to the invoice, go to Receive Payment and, manually, enter the correct amount, which will leave the overpayment on account for future use.

Then, it will match in the bank feeds.

Or, here is another suggestion:
Point the customer payments to a liability account called Customer Deposits (or Customer Prepayments)

Then, create the invoices, per usual, and, when applicable, create a credit memo to apply the Customer Prepayments to the open balance(s).
Laura D
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Old 06-01-2016, 05:26 PM
Lorin Browning Lorin Browning is offline
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That's so elegant
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  #4  
Old 06-09-2016, 06:12 AM
Wincar Wincar is offline
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Quote:
Originally Posted by LauraD View Post
Instead of matching the downloaded transaction to the invoice, go to Receive Payment and, manually, enter the correct amount, which will leave the overpayment on account for future use.

Then, it will match in the bank feeds.

Or, here is another suggestion:
Point the customer payments to a liability account called Customer Deposits (or Customer Prepayments)

Then, create the invoices, per usual, and, when applicable, create a credit memo to apply the Customer Prepayments to the open balance(s).
Laura D
Sorry I missed this! Thank you for replying, I'll give it a go!
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