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M
Meaghan4
August 18, 2020
Question

How do i split a payment between an invoice and other income

  • August 18, 2020
  • 1 reply
  • 0 views

I created an invoice for $700 (with tax $735). Customer pays by etransfer but can make multiple payments on it. So i link the first payment ($245) to the invoice. Balance owing is $490. Second payment they sent was for $640. $490 for the balance and the rest for something else. There is no invoice for that other piece as we just collect the money to pay another company, it's not a service we offer. How do I split that second payment to put $490 to the invoice and the rest to other income? 

1 reply

PatriciaT
PatriciaT
August 18, 2020

Hi Meaghan4,

 

Thanks for joining us and sharing this information on your account. Recording your transactions properly ensures you keep your books accurate. QuickBooks Online is designed with several features to make your invoicing process smooth and easy. I'll be happy to share more on this.

 

It sounds like you're already familiar with how to create an invoice in QuickBooks Online, as well as receiving partial payments. If the amount is greater than the Balance due when receiving the other part of the payment on the invoice, QuickBooks Online will mark the invoice as Paid and save the rest as credits for future transactions. When creating and saving a new invoice for your customer, the system will automatically apply the credit on file for you. If you'd like to manually apply your credits on the invoice, you can turn off this automated feature by going to Gear icon > Account and Settings > Advanced > Automation > click the small pencil icon to turn off Automatically apply credits.

After that, simply go to +New > Receive payment > choose your customer from the drop-down menu and select his credit under the section Credits to apply on the invoice.

 

To review how to receive payments in QuickBooks Online, here's an article: Record invoice payments in QuickBooks Online


I hope this clarifies things for you. For any further assistance, feel free to reach out to our tech support team.

 

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