Question

invoice in January 1and show work for December

Forum|Forum|2 years ago
December 19, 2023
1 reply
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Hello, I am new here and have a question. I am currently doing a sizeable job for a client and ship (print work) to customer on 12/28/23. I usually would invoice the same day, but my customer requests the invoice dated 1/2/24 - which I understand (bringing it into next years budget). This will mess up my books as I would like to show this work in this fiscal year. Is there a simple solution for my inquiry? I run my books on cash-basis, but also look at accrual to see actual work performed? I would like to see the work on the Sales-Sales by customer summary and other financial reports
Thank you.

QuickBooks Desktop

A

AileneA

Hello, ArcticFox60. I'll guide you on how to invoice your customer that is dated for next year so that it won't mess up your book.

When invoicing a customer with a future date, it's essential to handle it properly to avoid any confusion or errors in your bookkeeping. One way to handle this is to receive payments using Undeposited Funds (12/28/23) and deposit the Payment later (1/2/24). I'll show you how to do it:

From the QuickBooks Home page or the Customers menu, select Receive Payment.
In the Received From drop-down, select the customer's name.
Enter the Amount received.
Make sure the date is correct, then choose the Payment method.
Choose the invoice or invoices you'd like to pay.
In the Deposit To section, make sure Undeposited Funds is selected.
Tap Save & Close.

By default, payments are deposited to an account named Undeposited Funds. Please refer to this article for more detailed steps on depositing it to Undeposited Funds: Deposit payments into the Undeposited Funds account in QuickBooks Desktop.

Once you have saved the payment, you can go to the Make Deposit window and deposit them into your bank account on a future date.

I'll add this article that tackles reconciling in QBDT to ensure your accounts are balanced and accurate: Reconcile an account in QuickBooks Desktop.

Don't hesitate to get in touch with us if you need further assistance with managing transactions in QBDT. The Community is always available for you. Have a great day ahead.

A

ArcticFox60Author

Hello AileneA

thank you for your feedback. So what yoy are saying is to invoice on 1/24, but receive payment as of 12/28 and to depost into undeposited funds.

Now, I have read about 'Accrued Revenue' and 'Work In Progress (WIP) to handle such scenarios.

Would that eb an option and how would I enter it.

Again, I just want to show on financial reports that work has been done in December, but I cannot Invoice in Dec, but rather January of 2024. Thank you

Rainflurry

@ArcticFox60

How do you invoice your customer? Do you send email attachments or do they pay using QB payments or ??? If you send them an electronic/physical copy of the invoice, you could date the invoice in January and, after they receive it, change the date to December.

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