Categories
Customer Center Customers Invoice Receive Payment

How to handle early payment discount taken to an invoice when a customer pays on time? Example: 1% 10, Net 30 or 2% 10, Net 30

In ideal accounting process, I would think handling discount taken by the customer would be part of “Receive Payment” form screen. They will have the additional line to enter discounts given to the customer as negative amount entered and thereby would match customer payment amount.

Since QBO Receive Payment screen is unable to handle this specific transaction, you will need way-around approach. No doubt, it is unnecessary and time-consuming steps to handle such a simple customer payment transaction.

You will need to create a CREDIT MEMO for early discount taken by the customer. See photo#3 for reference.

For one-time, you will also need to create new GL account for “Discounts given” (see photo 1) and new Service item for “Early Payment Discounts” (see photo 2).

Once you’ve created Credit Memo, go to Receive Payment screen, apply for payment against the open invoice as well as apply subtract early payment discounts to match customer payment. See photo#4 for reference.

See screenshot photo#5 for reference to how it will show Discounts given in P&L.

See screenshot photo#5 for reference to how it will show Discounts given in P&L.

Need better way to handle discount taken by customer, add to QuickBooks Online Feature Requests here:

http://feedback.qbo.intuit.com/


 

Photo#1

Open new GL Account
Open new GL Account

Photo#2

Create new Product Item for Early Discounts Taken
Create new Product Item for Early Discounts Taken

Photo#3

Create Credit Memo
Create Credit Memo

Photo#4

Receive Payment Screen
Receive Payment Screen

Photo#5

Profit & Loss with Discounts Given
Profit & Loss with Discounts Given

 

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Categories
Invoice

I have an invoice that was created for $500 and we were paid actually $900. Looks like it has now closed out another invoice. How can this be corrected?

You will need to change automatically apply credit setting OFF.

To do to this:

From the Home page screen
Select the Company Gear (top upper corner)
Select Company Settings under Settings header
Select Advanced
Under Automation, change automatically apply credit setting to “off”
Change automatically apply bill payments to “off” as well
Save
See screenshot photo for reference

Not sure how you’ve recorded $900 payment. You may have it try it out like delete/void payment, receive payment again to fix it. Again, I do not see your books from here.

Automation Apply Credit Bill Payments
Automation Apply Credit Bill Payments
Categories
Customer Center Customers Customers Center Invoice

How can I see if a Customer has opened/viewed an Invoice in new QuickBooks Online?

Select the blue navigation bar on the left

  • Select Customers Center
  • Locate Customer and click “Open Invoices” under Pending Invoices column
  • Under Status column you will notice either “Open (Viewed)” or Open (Sent)”
  • That’s your confirmation if the invoice has been viewed or not.
  • See attached screenshot photo below for reference.
Invoice Open Viewed Sent
Invoice Open Viewed Sent

This is one of the coolest features available in new QuickBooks Online.
Another cool feature is when customer opened the Invoice, on the side bar, it will put a stamp indicating what time customer viewed the invoice. Customer can also reply to your email from the same “Send a message” box.

Customer Send a Message Box
Customer Send a Message Box

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Categories
Customers Invoice Sales

How do I add a client purchase order onto my invoice, ie how do I show this on the invoice is there a custom column?

Sales Form Content - Custom Fields
Sales Form Content – Custom Fields

In new QBO, they’ve up to three custom fields selections available to customize invoice layout.
You can pick one field for Client Purchase Order Number.

From the Home page screen

  • Select the Company Gear (located top upper corner)
  • Select “Company Settings” under Settings header
  • Select “Sales” under Settings”
  • Select “Sales Form Content”
  • Select “Custom Fields”
  • This is where you add Client PO No.
  • Save and Done
  • See screenshot photo below for reference

Categories
Customer Center Customers Invoice

I accidentally sent out a batch of invoices by email. How to figure out which ones got sent in new QuickBooks Online?

From the Homepage screen, go to the blue navigation bar on the left

  • Select Transactions
  • Select Customer
  • Select Gear (Not the company gear located top upper corner. This one is located in the right middle corner next printer and excel icons)
  • Select “Email” and “Status” from the dropdown selector
  • See screenshot photos below for reference
verify invoice email 3
verify invoice email 3
verify invoice email 1
verify invoice email 1

verify invoice email 2
verify invoice email 2

New QuickBooks Online Plus – How to enter various expenses in new QBO?

QuickBooks Online (QBO) Tutorial – Customer Invoice, Sales Receipt, Receive Payment, Bank Deposit

Categories
Invoice

How to display Discount field after Subtotal on an Invoice in new QuickBooks Online Plus?

In QBO, you can show discount (percent or $ value) after subtotal. See attached screenshot photo 1 for reference.

You will need to change discount setting on under Sales form content. See attached screenshot photo 2 for reference.

  • From the homepage screen, go the company gear (located top upper corner)
  • Select Company Settings
  • Select Sales under Settings
  • Select Discount ON under Sales form content heading
Discount field after Subtotal
Discount field after Subtotal

Discount field after Subtotal
Discount field after Subtotal






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Categories
Company Gear Company Settings Custom Form Styles Customer Center Customers Invoice

We need to pay Sales Commissions based on Sales Invoices paid date. How to run a Customer Sales report that will tell me exactly what invoices were paid in a specific date? 

To do this job, you can run “Sales by Customer Summary” report.
You will need to customize the report to show daily sales and change to cash basis.
If you are using custom fields for sales rep on the Invoice, you can match the sales by Sales Rep as well.
See attached screenshot photo1, photo2 and photo3 for reference.

qboe-customize-sales-summary-by-days1
qboe-customize-sales-summary-by-days2
qboe-customize-sales-summary-by-days3

Categories
Invoice

I would like to apply a percentage discount on just one item in my invoice. How can do it?

There is no way to set up a discount for a fixed amount at this time. This option for a % with subtotal is badly needed in new QuickBooks Online.

I Suggest sending in your QuickBooks Online Feature Requests here:
http://feedback.qbo.intuit.com/

Categories
Invoice Recurring Transactions

How do I stop any recurring invoices in QBO?

To stop a recurring transaction from recurring, you will either need to delete the recurring transaction, or edit the schedule so that it will not be regenerated.

Here’s how to do it:

  • First, click the gear in the upper right of your Home screen.
  • Choose Recurring Transactions from the menu.
  • Click the recurring transaction to select it.
  • If you’d like to just Delete the recurring transaction, click Delete at the top of the list.
  • If you’d prefer to retain the template and change the schedule, click Edit at the top of the list.
  • Change the type to read either Unscheduled or Reminder.
  • Click Save template.

 

#QuickBooks Online

 

Categories
Estimate Invoice

I accidentally created an Invoice rather than an Estimate. How to change it to an Estimate?

There’s no way to convert that Invoice to an Estimate.
QuickBooks Online doesn’t have a mechanism in place to create Estimates out of Invoices. You’ll have to manually create the Estimate and delete the Invoice.

 

#QuickBooks Online