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ashleyamdj13
July 7, 2022
Question

Small business, Check payments have been manually accepted in handwritten log for years. Need help cleaning QBO.

  • July 7, 2022
  • 2 replies
  • 0 views

Hi, I am helping a small business utilize their QuickBooks Online software more. They use it to start invoices but then use a handwritten log for pretty much everything else, including writing the check number when they receive payment. They do not even send the invoices from QB. Literally, all they do is type up the invoice and then save it to the computer and print it. They likely will set up their bank accounts with QB but for the time being they will not. As it stands there are hundreds of "unpaid" invoices making it impossible to really utilize the software very well. 

 

Can I just go in and manually add each payment as if I had the check in front of me and then do one big bank deposit? Should I just "zero" out the invoices? They use a CPA so I know all the taxes and everything is being collected correctly as far as Uncle Sam is concerned, this is just to clean up their QB so it can be utilized in the coming months. 

 

I have searched the community for help, but really only come across things that require the bank account to be linked to QB, which is currently not an option.

2 replies

LieraMarie_A
LieraMarie_A
July 7, 2022

Hey there, @ashleyamdj13.

Thanks for reaching out to us. I feel sad to hear they didn't take advantage of QuickBooks Online. I appreciate you for helping them.

Taking one big deposit for all payments affects the financial reports in QBO. Though, it would be a great help to catch up on accounting and get them on track in the coming months. I recommend seeking advice from their CPA for the best way to handle this.

As another option, I suggest getting an updated list of their bank transactions. They can download them from their bank's website. Then, record invoice payments manually based on the bank statement.

Here's how:
 

  1. Click + New and then Receive payment.
  2. From the Customer dropdown, select the name of the customer.
  3. From the Payment method dropdown, select the payment method.
  4. From the Deposit to dropdown, select the account you put the payment into. You can put the money directly into an account, like your checking account, or select Undeposited Funds if you need to group the payment with others. 
  5. In the Outstanding Transactions section, select the checkbox for the invoice you're recording the payment for.
  6. Enter the Reference no. and Memo if needed. 
  7. When you're done, select Save and close.

 

Keep me posted on your progress in helping them establish an appropriate accounting system. I'll be here on hand in any way that I can.

Fiat Lux - ASIA
Fiat Lux - ASIA
July 8, 2022

@ashleyamdj13 

You can ask them to record the Invoices and Receive Payments data with the following template

Invoices

RefNumberCustomerTxnDateDueDateShipDateShipMethodNameTrackingNumSalesTermLocationClassBillAddrLine1BillAddrLine2BillAddrLine3BillAddrLine4BillAddrCityBillAddrStateBillAddrPostalCodeBillAddrCountryShipAddrLine1ShipAddrLine2ShipAddrLine3ShipAddrLine4ShipAddrCityShipAddrStateShipAddrPostalCodeShipAddrCountryPrivateNoteMsgBillEmailBillEmailCcBillEmailBccCurrencyExchangeRateDepositToBePrintedToBeEmailedAllowIPNPaymentAllowOnlineCreditCardPaymentAllowOnlineACHPaymentShipAmtShipItemDiscountAmtDiscountRateTaxRateTaxAmtDiscountTaxableLineServiceDateLineItemLineDescLineQtyLineUnitPriceLineAmountLineClassLineTaxable
101Janice Johnson01/10/2020 01/12/2020Ground Net 30  110 Main StreetSuite 2000  DallasTX99875 110 Main StreetSuite 2000  DallasTX99875 Special HandlingThank you for your order!     0NYNNY12Shipping 0.02  Y MP3 PlayerBlue MP3 Player255  TAX
101Janice Johnson01/10/2020 01/12/2020Ground Net 30  110 Main StreetSuite 2000  DallasTX99875 110 Main StreetSuite 2000  DallasTX99875 Special HandlingThank you for your order!     0NYNNY12Shipping 0.02  Y Leather CaseLeather Case210  TAX
101Janice Johnson01/10/2020 01/12/2020Ground Net 30  110 Main StreetSuite 2000  DallasTX99875 110 Main StreetSuite 2000  DallasTX99875 Special HandlingThank you for your order!     0NYNNY12Shipping 0.02  Y Gift CardsGift Cards25  TAX
102Leonard Walker Inc01/10/2020    Net 30  9 Winding Road   WinchesterNY12345 9 Winding Road   WinchesterNY12345  Thank you for your order!     0YNNNY      Y HandheldsPortable Game Player1100  TAX
102Leonard Walker Inc01/10/2020    Net 30  9 Winding Road   WinchesterNY12345 9 Winding Road   WinchesterNY12345  Thank you for your order!     0YNNNY      Y Software1 Year Warranty125  TAX
102Leonard Walker Inc01/10/2020    Net 30  9 Winding Road   WinchesterNY12345 9 Winding Road   WinchesterNY12345  Thank you for your order!     0YNNNY      Y Extended Warranty1 Year Extended Warranty15  TAX
103Lisa Smith01/10/2020    Net 30  19 Jerico Drive   BensalemPA84256 19 Jerico Drive   BensalemPA84256  We appreciate your business!     0NYNNY        Gift Certificate$50 Gift Certificate150  NON
103Lisa Smith01/10/2020    Net 30  19 Jerico Drive   BensalemPA84256 19 Jerico Drive   BensalemPA84256  We appreciate your business!     0NYNNY        Magazine SubscriptionAnnual Magazine Subscription212  NON

 

Receive Payments

RefNumberTxnDatePaymentRefNumberCustomerPaymentMethodDepositToAccountInvoiceApplyToLineAmountPrivateNoteCurrencyExchangeRate
128/11/202050245Janice JohnsonCheckChecking101100.00   
228/11/20204908Leonard Walker IncCheckChecking102138.78   
328/11/20204908Lisa SmithCheckChecking103126.50   

 

then utilize an importer tool

https://transactionpro.grsm.io/qbo

 

You can also utilize thee trial version of a backup restore app to minimize any rookie's mistake

https://rewindio.grsm.io/quickbooks

 

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