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R
RN11
May 4, 2024
Question

Setting up invoices in QuickBooks Desktop

  • May 4, 2024
  • 1 reply
  • 0 views

I am trying to create invoices in QuickBooks. Under Items List I added the name of the service and the description. A revenue account was assigned to the item.  I went ahead and processed the invoice  using  the description in the list. The date of  the invoice was 2/15/24.  I received a payment as  of 3/15/24 and I posted the payment. When I looked in the revenue account it pulled the payment date as 2/15/24. I am on cash basis and I need to post the payment on the date received and not the date billed.  What am I doing wrong?

 

How do I add general excise tax to an invoice?

1 reply

A
AileneA
May 4, 2024

I can see the importance of having the correct date record when receiving payment to ensure the accuracy of your data, RN11. Let me assure you that I'm here to help resolve this issue. 

 

In QuickBooks Desktop, the payment date displayed on the invoice may depend on the due date you've set up when creating/sending the invoice to your customer. The payment date shown on the invoice is typically the date when the payment set for due date into the invoice. 

 

You may want to open your invoice and veryfy the due date on your invoice. Make sure your due date is set on 3/15/2024. So that when you open your revenue account, it will appear as the correct date, which is 3/15/2024, instead of the date billed. 

 

 

 

 

 

 

To ensure that the payment date is correctly represented, you can follow the steps below to adjust the payment date in QuickBooks Desktop. By updating the payment date to the correct one will ensure the accuracy of your book. 

 

Here's how:

 

  1. Open QuickBooks Desktop and go to the Customers menu.
  2. Select Receive Payments from the drop-down menu.
  3. Locate the customer associated with the payment you want to edit and select it.
  4. In the Received From field, verify that the correct customer is selected.
  5. Find the invoice for which you want to change the payment date and select it.
  6. In the Payment Amount field, enter the correct payment amount.
  7. Below the payment amount, you will see the Date field. Change the date to the correct payment date, in this case, 3/15/2024.
  8. Review the rest of the payment details and ensure they are accurate.
  9. Click the Save & Close button to save the changes.

 

If you need more guidance on managing your invoices in QuickBooks Desktop, please refer to the following articles:

 

 

On the other hand, If you want to add a general excise tax to an invoice, you can add the excise tax as a sales tax item and then apply it to your invoice. I can guide you through the process; here's how:

 

  1. Go to Edit, then Preferences.
  2. Click Sales Tax, then Company Preferences.
  3. Click Add sales tax item.
  4. Under Type, choose Sales Tax Item. Then, type the Sales Tax Name, Description, Tax Rate (%), and the Tax Agency (the vendor you collect for).
  5. Tap OK.

To apply the excise tax, add the sales tax item under the Tax column and select it from the Tax drop-down in the invoice.

 

 

 

Feel free to check out this handy article for details: Set up sales tax in QuickBooks Desktop. 

 

Please don't hesitate to ask if you have any further questions or need additional assistance with adjusting the payment date or adding excise tax to the invoice in QuickBooks Desktop. I'm here to help you navigate through any challenges you may encounter. Have a great day!

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