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dgon27
January 28, 2025
Question

Invoicing

  • January 28, 2025
  • 1 reply
  • 0 views

I created multiple invoices, sent them out and received multiple payments. I failed to turn deposit on in account settings / sales / sales form content. Now I have multiple paid invoices registered as payments instead of deposits. So instead of credits (+) they are showing up as payments (-). Can this be rectified?

1 reply

G
GenmarieM
January 28, 2025

It's great seeing you here in the Community, dgon27. Let me share some details about invoice payments with QuickBooks Online.

 

When you record paid invoices, they are classified as payments rather than deposits. These transactions will be shown as negative amounts, indicating a reduction in your customer's overall balance. This clarity helps ensure accurate financial tracking and understanding of how payments impact account balances.


 

Moreover, turning on deposits in the Account and settings allows you to add a deposit field. This will enable you to subtract a customer's deposit or partial payment from the total to determine the customer's balance due.

 

Furthermore, feel free to visit this article for detailed information on how to receive and record invoice payments in QuickBooks Online: Record invoice payments in QuickBooks Online.

 

Additionally, you can utilize this article to run reports and get a glimpse of your business's financial standing: Run reports in QuickBooks Online.

 

Lastly, specialists are ready to help you streamline various tasks in QuickBooks, including the invoicing process with our QuickBooks Live Expert Assisted service. This offers personalized guidance to ensure you stay organized and effectively manage your business finances.

 

Keep us posted if you have other concerns or questions about invoices in QuickBooks Online. We're always here to help.

D
dgon27Author
January 28, 2025

Thank you. When invoices are paid, I want my quickbooks to show a credit in the positive and not a payment in the negative. My quickbooks balance shows a negative and I want it to reflect the paid invoices as positive income. 

A
AntoniettaE
January 28, 2025

The option to show a positive income is not applicable for your paid invoices, dgon27. Let me provide more insight below.

 

Creating an invoice means you are making money. However, when you record a payment, it does not reduce the income you generate. Instead, it's seen as a negative entry that lowers the Accounts Receivable. If you recorded it as a positive entry, the amount owed would not decrease, making it look like the debt is still unpaid.

 

Additionally, review this article to understand how to balance your accounts to ensure they consistently align with your bank and credit card statements: Reconcile an account in QuickBooks.

 

If you have any more questions or need assistance with your paid invoices, please don't hesitate to contact us. We're here to help ensure your financial tracking is precise and easy to understand.

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