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Tanya R
April 29, 2022
Question

Receiving Payments

  • April 29, 2022
  • 1 reply
  • 0 views

I do the books for a Strata Corporation that collects Strata Fees every month.  When they give me a cheque, it is really easy to deal with pre-payments, but my question is about receiving cash.  Today, one of the owners gave me cash for 2 months Strata Fees...this month and next month.  When I receive the payment, next month's payment goes on a Credit Memo so that I can send her a receipt for the cash.  Once I have done that, then I reverse the payment, deposit the full amount to Unearned Income and transfer this month's payment now, and next month later.  Is there an easier way to do this?  If I simply deposit the funds to Unearned Income, I don't know how to print a receipt for her, or am I missing something? Or...is there a way from the Receive Payments screen in Customers to put next month's portion to Unearned Income?  

1 reply

T
Trish_T
April 29, 2022

Hi Tanya R,

 

Welcome to Community!  QuickBooks is a powerful program that allows you to complete your tasks with peace of mind.  I'll be happy to provide more information so you're on the right track with your work!

 

It's great to hear that you've been provided cash in advance and recording this can be done seamlessly.  Once you've set up an account for the upfront deposit, you'll create a deposit item.  This will then be applied to invoices either as a line item or as a credit.  Here's a helpful guide that will take you through the steps so you can get back to what you love!

 

Please don't hesitate to let us know if this helps, or reach back out if you have other questions.  We'd love to help!

 

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