Thank you so very much - I had invoices and credits sitting on my ar report for over two years and I couldn't figure out how to remove them - but thanks to you they're GONE! it's so relieving to see a nice clean report. thank you a million.
Thank you for your help! I have another question. How can I handle a situation where an overpayment on an invoice, which was actually an incorrect application of an amount to a small invoice from the previous year, is now being applied as a credit to another invoice? Specifically, how can I remove a negative payment from the A/R report without affecting the bank reconciliations or the bank account balance?
You can change how a payment is applied by viewing the payment itself and then applying that payment how you see fit to open transactions. This will not change the bank balance at all, as long as the amount does not change.
Can you advise what to do if multiple invoices under a customer account are showing as an open balance but the invoices were paid. The specific invoices that were being paid were not check marked, but invoices not specific to the payment were when entering the payment. The invoices that were supposed to be paid are showing as not paid from 2019 and 2022. Thank you
It sounds like the payment was entered twice or something like that. An open invoice report might reveal the real payments and the you can work on applying them correctly. Reach out to us on QuickAnswers and we can dig into the issue together.
okay so for some reason after i did my credit memos and write offs. it changed the balance total of my customers, but instead of to zero it's all now double the open balance but that amount is not listed in my open balance reports.
Very clear up to the "discount" discussion. So after I create the bad debt expense account and write off the invoice, I need to go back and create a credit memo for that same invoice showing the date of the write off to put it into the same year as the write off? The ending of the QBOA part seemed a little vague.
Hi Tina, do you have a time stamp that you could reference, I want to ensure what we are referring to in the video to make sure you get the right information.
Hi, I have a question how to undo the invoice that I have written off using the Write Off Invoices tool in qbo? I've written off the wrong invoice so I wanted to undo the write off I made. Thank you
Thank you for all this great info. If I just have an unpaid invoice from a previous tax year- but my system is on a cash basis - could I just void the invoice (with a note explaining what I’m doing ) or just apply a credit memo with all the items in question used (and not have a separate write off account, bad debt, etc) I hate to go back to any invoice and change them, since clients do have the original copies. Thanks.
Ask the accountant, but either way has the same effect. Deleting, it's gone, so there's no history. If that's important, then you won't have that history.
I put in an invoice in a previous fiscal year, sent in taxes, and then the person decides not to join our organization and therefore doesn't owe anything. Can I just delete that invoice?
Since it's in a closed period, you would want to close it out in the current period, so you get to have the benefit of the "write off" in the current year.
Thanks for the feedback - we've taken this workshop and trimmed out the "casual conversation" and made it part of our course content. We invite you to try it out of FREE for 30 days. www.schoolofbookkeeping.com/products/accountant-tools-and-cleanup-desktop/categories/2153787331
Thank you so very much - I had invoices and credits sitting on my ar report for over two years and I couldn't figure out how to remove them - but thanks to you they're GONE! it's so relieving to see a nice clean report. thank you a million.
Glad we could help!! Keep Learning!!!
Carrie and Dan thank you for sharing your knowledge. You're amazing!
Thanks, Tyler!!
VERY good! Thank you! I'm new to cleaning up A/R and this is very helpful
Thank you for the feedback!!
Thank you for your help! I have another question. How can I handle a situation where an overpayment on an invoice, which was actually an incorrect application of an amount to a small invoice from the previous year, is now being applied as a credit to another invoice? Specifically, how can I remove a negative payment from the A/R report without affecting the bank reconciliations or the bank account balance?
You can change how a payment is applied by viewing the payment itself and then applying that payment how you see fit to open transactions. This will not change the bank balance at all, as long as the amount does not change.
great work thanks..
Most welcome
Informative video
Thank you!
Can you advise what to do if multiple invoices under a customer account are showing as an open balance but the invoices were paid. The specific invoices that were being paid were not check marked, but invoices not specific to the payment were when entering the payment. The invoices that were supposed to be paid are showing as not paid from 2019 and 2022. Thank you
It sounds like the payment was entered twice or something like that. An open invoice report might reveal the real payments and the you can work on applying them correctly. Reach out to us on QuickAnswers and we can dig into the issue together.
okay so for some reason after i did my credit memos and write offs. it changed the balance total of my customers, but instead of to zero it's all now double the open balance but that amount is not listed in my open balance reports.
Does that happen with any credit memo? Not jus write offs of bad debt.
What to select in Write Off Item field after you have selected invoice? You selected "Write Off" but I do not have that in my list. Please help.
Usually it’s an expense account. You can call it whatever you like.
Very clear up to the "discount" discussion. So after I create the bad debt expense account and write off the invoice, I need to go back and create a credit memo for that same invoice showing the date of the write off to put it into the same year as the write off? The ending of the QBOA part seemed a little vague.
Hi Tina, do you have a time stamp that you could reference, I want to ensure what we are referring to in the video to make sure you get the right information.
Hi, I have a question how to undo the invoice that I have written off using the Write Off Invoices tool in qbo? I've written off the wrong invoice so I wanted to undo the write off I made. Thank you
Edit the invoice and remove the discount.
Hello,if I want to write off an old double payment from a customer do I have to use VAT or not?
So the customer paid twice?
Thank you for all this great info. If I just have an unpaid invoice from a previous tax year- but my system is on a cash basis - could I just void the invoice (with a note explaining what I’m doing ) or just apply a credit memo with all the items in question used (and not have a separate write off account, bad debt, etc)
I hate to go back to any invoice and change them, since clients do have the original copies.
Thanks.
Ask the accountant, but either way has the same effect. Deleting, it's gone, so there's no history. If that's important, then you won't have that history.
@@schoolofbookkeeping I guess I wanted to distinguish between the credit memo having the account “bad debt” versus say “design fee” account. Thx
@@michaelslavin766 Makes sense. The more you put in the data, the more you get out of the data.
Will Carrie's method work for non-profits?
What is it about Non-profits would it not work for? It should.
@@schoolofbookkeeping Thanks, this was really helpful.
@@stellarose7886 Awesome!! Thanks for the feedback!
I put in an invoice in a previous fiscal year, sent in taxes, and then the person decides not to join our organization and therefore doesn't owe anything. Can I just delete that invoice?
Since it's in a closed period, you would want to close it out in the current period, so you get to have the benefit of the "write off" in the current year.
Not a very good video. You goofing around and interrupting is hugely distracting.
Thanks for the feedback - we've taken this workshop and trimmed out the "casual conversation" and made it part of our course content. We invite you to try it out of FREE for 30 days. www.schoolofbookkeeping.com/products/accountant-tools-and-cleanup-desktop/categories/2153787331