1. Home
  2. Quicken Personal Finance
  3. How to handle questionable receipt.

How to handle questionable receipt.

I received a check in payment of four invoices. Three of the invoices were clearly in payment of invoices issues. One of the invoices, although coded in their description to the correct service provided, and although in an amount that would likely be one of our invoices, did not contain an invoice number I recognize.

Since the accounts recivable receive payment function throws up invoices issued and expects payments to be applied to them, how could one use the receive payment function and throw the questioned payment into some sort of suspense while this is being investigated?

Thanks. John.

Reply to
jnttsh
Loading thread data ...

ASSUMING that you've got an "Undeposited Checks" account (which has been recommended here multiple times by multiple people), the easiest procedure would be to just deposit the check to your bank with a category of "Undeposited Checks" ... and DON'T record it against the invoices YET.

When the matter is resolved, post what's appropriate and either create/edit an invoice for the additional amount OR write a check for the difference.

db

Reply to
danbrown

Dan,

Thanks for the suggestion. I have seen the Undeposited Checks account suggestion. I think your suggestion is great.

BTW, I figured out the problem. In this case, what the vendor did was to create (I think) a transfer internal to their accounting system in order to allocate 1/2 of our invoice to a different project on their books. When I temporarily took over the Quicken system a few weeks ago, I noticed that checks from them, for one project to which we bill, showed the same invoice payment twice but for 1/2 the amount of the total invoice. We provide services to two projects and I figured out that was their way ofallocating 1/2 to one project and 1/2 to another. It seems they just changed the way they do it internally but for the same reason. I plan to confirm this by phone Monday but I'm pretty sure this is what's happening. I'm going to also offer to simply send a separate invoice to that project.

In any event, I like your idea and think it will work just great. Thanks so much for the help.

John.

Reply to
jnttsh

I must admit that, when I'm responding to posts, I don't pay attention to WHO asked the question (unless it's in the same thread) ... so when I mentioned the U-C account, I didn't realize that you and I had "conversed" previously.

Glad you got your issue figured out.

db

Reply to
danbrown

Thanks again Dan. I actually am using your advice (I think) in a different way. I was just wrestling with the issue of a transaction showing the aggregate deposits instead of each individual check when multiple checks are deposited on the same deposit slip.

I am working it through but I think your U-C account will do the trick.

I appeciate your expanding my thinking on this.

John.

Reply to
jnttsh

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.