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Maverick2
February 4, 2022
Solved

Applying payments to a pending invoice

  • February 4, 2022
  • 2 replies
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When I mark an invoice as pending, can I apply payments to that invoice? If so, what is the impact on the accounting? Does it show the invoice as paid? Does it show up as a credit or something on the customer account?

 

I don't have a sample company file and I don't want to mess around with my working file, so I'm asking here first.

    Best answer by BigRedConsulting

    No, you can't apply payments to a pending (non-posting) invoice.

    2 replies

    BigRedConsulting
    BigRedConsultingAnswer
    February 4, 2022

    No, you can't apply payments to a pending (non-posting) invoice.

      L
      LeizylM
      February 4, 2022

      It's nice to see you here, Maverick2. 

       

      I'm here to make sure you'll be able to apply payments to your invoices in QuickBooks Desktop. 

       

      I agree with BigRedConsulting that payments cannot be applied to a pending (non-posting) invoice. You'll need to remove the pending status, so you'll be able to apply for payment. 

       

      Just open the invoice, and click the Mark As Final button at the top of the transaction screen. See the screenshot below for your visual reference.

       

      To pay the invoice. use the Receive Payment feature to enter the payment in the program. Here's how:

       

      1. Go to Customers from the top menu. then, select Receive Payments.
      2. In the Received From the drop-down, select the customer's name.
      3. Enter the Amount received.
      4. Make sure the date is correct, then choose the payment method.
      5. Select the invoice or invoices you'd like to pay.
      6. Click Save and Close.

       

      In case you'll want to customize your sales forms template, create duplicates, and import or export templates, you may check out this link for the detailed steps: Use and customize form templates. 

       

      You can always get back to me if you have questions about your invoices or other concerns by leaving a comment below. I'm always here to assist. Have a great rest of the day.

      M
      Maverick2Author
      February 4, 2022

      One other thing:

      What happens if you accidentally save an invoice as final, then realize it needs to be pending?

      or,

      You mark an invoice as pending, then later mark as final, then have to change it back to pending? I'm not sure why that would happen but it's a possibility.

       

      Does it reverse all the accounting and inventory reduction?

      Jen_D
      Jen_D
      February 4, 2022

      Thanks for reaching out to us, Maverick.

       

      I can share some insights about the effect of marking an invoice as pending or final.

       

      If you decide that you're not ready to finalize the invoice, use the Mark As Pending option. The system will turn the invoice as non-posting and will not account it as earned. As soon as you finalize the invoice, it then credit sales and debits accounts receivables, thus, recognizing revenue for you.

       

      To simplify, making an invoice pending will only save the entry, but there is no accounting behind it. If you're ready to recognize a revenue, use the Mark As Final option. 

       

      Also, this feature does affect inventory quantity on the invoice. Just the posting of your transaction.

       

      Please post here again if there's anything else you need help with QuickBooks. I'll be right here to help you out. All the best!

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