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Thread: Quickbooks Journey

  1. #41
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    Hello, so what happens in this instance and how do you handle it in Quickbooks,

    If a customer pays for services\products before you actually invoice them...

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    Receive a payment in the normal way and leave it unallocated to any invoice.

    After the invoice is made out, you can allocate it in a few ways.

  3. #43
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    Thanks Andromeda, so basically if I understand correctly I can still allocate the payment to the invoice even if the payment date was before the invoice date?

  4. #44
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    Hi
    Yes. You can apply any credit to any debit on the same customer account.

  5. Thanks given for this post:

    AmithS (01-Mar-19)

  6. #45
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    One more thing, what do you do if you invoice someone and they never pay (goods or services also not delivered to them)...

  7. #46
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    Reverse the sale because it never happened

  8. #47
    Site Caretaker Dave A's Avatar
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    Or you could void the transaction (if it isn't affected by a VAT filing yet).

    I have a few suggestions when it comes to the editing functionality in Quickbooks.

    1. Be careful about who you enable the editing functionality for.
    2. Set clear protocols about when editing is permissible, vs the "normal" reverse entry / transfer entry.
    3. Use period locking to keep control of edits where an inappropriate edit may affect the validity of the record.
    4. Never delete - only void transactions.
    5. Monitor the audit trail from time to time.

  9. #48
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    Thanks Dave, will look into these features to avoid any record problems down the line.

    When a transaction is Void does it also reverse the stock allocated to the invoice?

    or will I have to manually adjust the stock...

  10. #49
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by AmithS View Post
    When a transaction is Void does it also reverse the stock allocated to the invoice?
    Yes.

    Or rather, it nulls all quantities.

  11. #50
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    Quote Originally Posted by Dave A View Post
    Yes.

    Or rather, it nulls all quantities.
    Perfect thanks. Will make a backup and test these out.

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