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SFHEALTH
July 24, 2024
Question

Matching downloaded transactions

  • July 24, 2024
  • 1 reply
  • 0 views

Our organisation receives monthly income for various invoices and last month we were overpaid by £72,162.69 by one customer. I matched the payment against the correct invoices and left the overpayment as uncategorised income. 

 

However, on our monthly income payment this month a credit note has been applied which has reduced the payment amount. When i try to match the payment against the correct invoices, the downloaded transactions amount differs to the selected transactions.

 

For the life of me, i can't think of the best way to resolve this without leaving some of the invoices with a partial balance, etc.

 

Any advice is appreciated. Thanks

1 reply

P
payment after leaving
July 24, 2024

Hi SFHEALTH We've replied to your additional Community post and look forward to receiving your response. 

S
SFHEALTHAuthor
July 25, 2024

Hi - i did reply but it looks like it has been removed for some reason. 

 

To explain the situation better. Last month we raised invoices to one customer for £446,137.58 and we received a payment of £518,300.27. I matched the payment against the invoices we had raised however it left an overpayment of £72,162.69. The overpayment was left as uncategorised income. 

 

This month we raised invoices to the same customer for £336,926.98 but the customer automatically added a credit note for the overpayment so we only received a payment of £264.764.28. 

 

I am not sure how to match that payment against the relevant invoices without leaving a partial balance on some of the invoices. Is there an easier way to resolve the uncategorised income and also match the invoices against a payment that is lower than expected without editing the invoices?

R
Rasa-LilaM
July 25, 2024

Thanks for providing detailed information about your matching concern, SFHEALTH.

 

We'll have to change the uncategorized income category to Debtors to link the £72,162.69 credit to the invoice and balance your customer's record.

 

Here's how:

 

  1. In your company, head to the Transactions menu on the left panel and choose Chart of accounts.
  2. Look for the Uncategorized Income account from the list and click the Run report link to view the list of entries.
  3. Find the £72,162.69 and click the transaction to open the Bank Deposit screen.
  4. In the Add funds to this deposit section, change the Uncategorized Income account to Debtos.
  5. Tap the Save and close button.

Next, proceed to the Bank transactions screen and match the payment to the invoices. Now, let's apply the credit to the invoice by following these steps:

  1. Click + New and select Receive payment.
  2. From the Customer drop-down list, select the customer's name.
  3. In the Outstanding Transactions section, tick the box for the invoice you want to link to the credit note.
  4. In the Credits section, mark the box for the credit you wish to apply.
  5. Make sure to enter the correct amount in the Payment column.
  6. Leave the Payment method, Reference no, Deposit to, and Amount received fields blank.
  7. Fill in the remaining fields.
  8. Press the Save and close button.

For a more in-depth insight into this process, browse through this link: Link a bank deposit to an invoice in QuickBooks Online. From there, you'll learn how to find and edit a deposit.

 

Explore these resources to gain more insights about handling refunds and credit notes:

Fill me in if you have additional questions about matching downloaded transactions and managing customer credits. The Community is always ready to provide the assistance needed.

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