Double Entered Invoice

Take the money and run. Consider it a gift from the boys and girls at Intuit.

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Ok... thanks for the replies, I think maybe I better understand how to ask my question now.

I understand about the double entry bookkeeping, that each transaction effects two accounts... however my problem is that the TOTAL is showing double of what it actually should be...

So my new question is, yes the money is going into undeposited funds, and how I was taught to enter the deposit was directly through the registry, not the Record Deposits button. So now I am showing $100 in the undeposited funds, and $100 deposited to the bank... how do I fix this so the money in undeposited funds goes away? Because when I run the report for this, it shows I have made $200... when that's clearly wrong :(

So I guess the summary of my question, is how do I make the $100 in undeposited funds go away, because it has infact been deposited, just entered differently?

Thanks so much for the help!

Check your preferences as to which account customer payments goes to. Your choices are the bank account or the Undeposited Funds account.

If the payment is going directly to the checking account then there is no need to "deposit" the money .

If you are using the Undeposited Funds account then the payments received will show up on the screen for you to select in the Make Deposit screen.

ROFL - your post won the smile of the day.

There is no problem here. Your transactions are 'double entered'. The software is working as it is supposed to.

Have a glance at

Then run, do not walk, to your local small business resources center.

Many community college offer no or low-cost classes on basic business finance.

Yeah, at first I thought this is what the OP referred to. But the references to having $100 in both A/R and the bank made me wonder as to whether the confusion was at a more basic level.

I'm curious as to just what is the nature of the 'simple problem'. I hope the OP posts back.

Thanks so much for the help! I worked on it a little this afternoon, and the problem was that it was being recorded into undeposited funds, and then being entered again directly into the registry. So I fixed those deposits, however, I have one more question regarding entering despoits:

If I haven't sent an invoice to someone, but recieve a payment that needs to go to the same account, how do I enter that, because I've just been putting it directly into the registry, but there's probably a "Right" way to do so. Usually I enter "deposit" as who it's from... would I just do the same in the "Enter Deposits" window?

Again, Laura, thank you so much for the help!!! I'm off to the bank right now, but will check this again tomorrow when I get back, and double check to see that everything I changed this afternoon was correct!

Thanks!

I'm afraid that you were told incorrectly to enter the deposit directly through the register and that is what is causing your problem.

You need to delete is the deposits that you entered directly into the register. The one in undeposited funds account is applied to the invoice per your Preferences so you don't want to delete these or you will need to repeat the Receive Payment transactions. So first delete those registry entries. Then use "Make Deposits" to get those funds into the bank account.

For future invoices & their payments figure out which account you want your payments to get posted to and adjust the preference on the Sales & customers tab.

Or inlist in the services of a Quickbooks Pro advisor for some training.

If you need to record a sale from a customer without an invoice being created first just use the Sales receipts window instead of entering it directly to the register. Don't forget to specify the correct account at the bottom of the screen to indicate which account (bank vs Undeposited Funds) you want the money to go to.

BTW, entering the sales receipts directly into the register is the same as using the Make Deposits screen EXCEPT that the customer name does not flow through to the Deposit screen or any of the customer related reports. This is one reason you should always use the customer/vendor related windows for recording transactions.

Maybe you will be lucky enough to find one who may respond. I've e-mailed a couple and they never answered. Doesn't say much for their advisor program.

Bob

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You seem to be saying that an e-mail question isn't real. Either way, I think they are both real messages that any reputable company or person should answer, even if to say they are sorry they cannot take on any more work. In my company I respond to every phone message and e-mail. Seems to be the courteous thing to do. But I'm not Intuit (thankfully).

Bob

Receive Payment. With no invoice specified, the amount goes as a credit to the customer. When you finally DO issue an invoice, you can "Receive Payment" again and apply the existing credit to the invoice.

>>>

You made two assumptions:

1. The advisors on the list work for Intuit, and
2. Email is an approved method for communication.

That's unfortunate. You might have gotten a better response if you had called them instead.

>> Maybe you will be lucky enough to find one who may respond. I've >>> e-mailed a couple and they never answered. Doesn't say much for their >>> advisor program.>>

Not at all. But with all of the spam filtering in place these days you never know if the person will receive your e-mail message. I had someone try and e-mail me yesterday to my gmail account and it kept bouncing. I've also never received messages because my ISP goes into spam filter overkill periodically. Plus if people get lots of e-mail it is easy for a stranger's message to get lost in the shuffle. It is a lot harder to ignore someone's phone call.

Unfortunately, there are many people who fail to respond to e-mail and phone messages. I agree, it is the courteous thing to do.

>>>>

That is correct. We don't work for Intuit.

If someone has included their e-mail address on their Advisor profile then they have given permission for people to contact them that way. So in a sense, it is an approved method of communication. But approved vs prefered are 2 different issues.

>>>>>>

I didn't say the advisors worked for Intuit. However, I assumed they had some sort of association with Intuit. Many companies have an e-mail contact on their web site and then pay no attention to it. If someone won't answer their e-mail after listing an e-mail contact, I would question their ability to offer sound financial advice.

Bob

>>>>>>>>

Aha, but I also phoned one of them after leaving two e-mails and he didn't answer the phone message either. Google the advisor in Cookeville, Tennessee. Apparently too busy to accept new customers and too lazy to say so.

Bob

>>>>>>

Define "association". I am a pro advisor. I pay my fee and take the exams to become certified. In return Intuit provides me with the latest software, unlimited tech support and a referal database for those of us that have become certified. We have paid plenty for that association. I don't represent Intuit in any way. At least I don't think I do. I represent my bookkeeping company.

Manners don't have any correlation on one's ability to offer sound financial advise. You have no proof that the Pro Advisor even got the e-mail message. If someone needs help with their books, then due to the normal time delay in answering one's e-mail I think using the telephone is a much better way of reaching out for assistance.