Categories
Credit Memo Customer Center Customers Journal Entry Receive Payment

How can I transfer unapplied credit from one customer to another in QuickBooks Online

A case may occur when a customer wants to apply credit balance to an affiliated company’s open invoice.

EXAMPLE:

Customer (Mark) has a $500 credit balance. Customer (Martha) has a $500 Open Invoice. They like to clear the accounts by applying $500 credit from Mark’s account to $500 Open Invoice of Martha’s account.

One easy way to handle transfer credit from one customer to another customer is to write a Journal Entry in QBO.

Click on the screenshots below to enlarge them

Customers Page
Customers Page

Customer Mark's Account with $500 Unapplied Credit
Customer Mark’s Account with $500 Unapplied Credit
Customer Martha's Account with $500 Open Invoice
Customer Martha’s Account with $500 Open Invoice

 

To create a Journal Entry

From the home page screen, click Create+ sign

  • Click Journal Entry tab under Other heading.
  • Enter the date.
  • On the first line, from the Account drop down list, select Accounts Receivable (A/R).
  • In the Debit field, enter the unapplied amount being transferred. Example:$500.
  • In the Memo field, note the reason for the Journal Entry. Example: credit transfer to Martha’s account.
  • From the Name drop down list, select the customer name that credit is being transferred from. Example: Mark
  • On the second line, from the Account drop down list, select Accounts Receivable (A/R) again.
  • In the Credit field, enter the credit amount (same as debit amount). Example:$500
  • In the Memo field, note the reason for the Journal Entry. Example: credit transfer from Mark’s account.
  • From the Name drop down list, select the name of the customer that the credit is being transferred to. Example: Martha
  • Click Save.
Journal Entry
Journal Entry
Mark's Customer Page after Journal Entry
Mark’s Customer Page after Journal Entry
Martha's Customer Page after Journal Entry
Martha’s Customer Page after Journal Entry

 

The final step is to Receive Payment on both customer accounts so that it will show “Paid and Closed” customer status

From the home page screen, click Create+ sign

  • Go to the Customers tab and click Receive Payment.
  • Select the customer (example: Mark).
  • Make sure that the credit and Journal Entry are checked at the left (make no other entry on the Receive Payment form.)
  • Make sure “Amount received” show zero amount.
  • Click Save.

Follow the same “Receive Payment” steps as above for the customer (Martha).

Screenshot 2015-08-23 14.18.55
Receive Payment (Customer Mark)

Screenshot 2015-08-23 14.19.23
Receive Payment (Customer Martha)

Screenshot 2015-08-23 14.20.43
Customer Mark’s Page with Paid and Closed Status

Screenshot 2015-08-23 14.20.52
Customer Martha’s Page with Paid and Closed Status

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Categories
App Apps Navigation

A comprehensive guide to Sync PayPal App with QuickBooks Online

“Sync with Paypal” app is for importing PayPal transactions into QuickBooks Online. All import will directly post into Quickbooks, eliminating the need for any double or manual entry. This is quite different from connecting bank accounts and downloading new bank transactions in QuickBooks banking center (transactions > banking). Since it directly posts without your review or approval process, you will have to rely on certain specific reports later in QBO.

This is a well-tested app. It is very easy to setup. It is FREE for all QuickBooks Online customers (up to 100,000). Sync with PayPal is currently available in the United States only.

Before you are ready to click “Get App Now” blue button, let’s analyze more and see if this app is right for your business.

This app is ideal for:

  • Service-based businesses where you do not invoice your customers.
  • Product-based businesses where you do not track inventories in QBO. Also, customer invoicing is not involved.

This app is not ideal for:

  • Businesses tracking inventories in QBO
  • Businesses need to invoice to receive payment
  • Companies with QBO plus plan and tracking class and location
  • Companies using PayPal mainly for purchases
  • Companies have several PayPal accounts and transfer funds between those accounts

Key Features:

  • Importing sales transactions
  • Importing purchase transactions
  • Importing bank transfers
  • Importing Paypal fees and posting it to proper account
  • Importing sales tax and posting it to proper account

Key Benefits:

  • Automatically importing customer payment information and filling out “Customer Information” screen in QBO. Big time saver.
  • Automatically creating Sales Receipt with properly filled out fields. Bank feeds cannot do that yet. You may be able to create Sales Receipt from a bank feed, but not automatically creating Sales Receipt. This is a huge time saver. Most importantly, think of it as if someone is doing behind the screen a great bookkeeping job for you for FREE. You cannot beat that price.

Click on the screenshots below to enlarge them
customer transaction page

customer information

sales receipt

One more thing before you can click “Get App Now” blue button, you will need to do some homework in QBO.

  • Decide income account you want to use for sales transactions. Review and set up new accounts to Chart of Accounts if needed. That is the income name (& account if enabled) you will see it later in the Profit & Loss Report
  • You will also need to enable Sales Tax rate and agency settings (if applicable and not done yet). Left navigation bar > Sales Tax > Sales Tax Center > Related Tasks (right side) > Add/edit tax rates and agencies. In QBO, for sales tax, they use default account setting. So, there is no need to create Sales Tax Payable Account. It does it automatically once you have Sales Tax Agency setup done.
  • Note: See step#7 for default account for reference.

If you currently connect your PayPal account through QuickBooks bank feeds (Transactions > Banking), it is IMPORTANT to:

  • Make a note of last downloaded transaction date
  • Review “New Transactions” column. Make sure all downloaded transactions are posted into QuickBooks. You should see “No transactions to process” note.
  • Make sure to disconnect it before installing the Sync with PayPal app to avoid duplicate entries.
    • To disconnect: From the home page screen > Left blue navigation bar > Transactions > Banking, click the PayPal card at the top of the page, click the pencil icon, click Edit account info, select the checkbox “Disconnect this account on save,” and click Save.

Let’s review the process part to get this app now.

To get this App from QBO:
From the home page screen

  • Left blue navigation bar
  • Apps
  • Featured
  • Choose “Sync with PayPal” (with PayPal logo)
  • Click “Get App Now” blue button (upper right)
  • Your authorization to Start using sync with PayPal with QuickBooks will start
  • You will need to login to your PayPal account once
  • The whole process takes less than ten minutes (with careful app settings review)

Step#1
sync with paypal

Step#2
step2

Step#3
step3

Step#4
Grant permission to Intuit
grant permission to intuit

Step#5
Review Your App Settings
stop

STOP! DO NOT CLICK “CONNECT” BUTTON YET. Now, it’s time to review your settings from date range to selection of various accounts to post. This is the most important part of the whole “Sync with PayPal” process!
You can download transactions just once. There is no batch actions to fix it once it is already posted into QBO.

  • Decide transactions date range setting
  • Review “App Settings” one by one

Review Your Settings

Step#6
Past Transactions

  • Click “Change” link under “Past Transactions”
  • Select Date Range
  • You can import your past transactions for up to 18 months. You can import from here just once. Select date range carefully. Note: Do not select up to today’s date. Always up to yesterday’s date.

change past transactions

Step#7
App Settings

PayPal Account – PayPal Bank (default)

  • Choose one from the list if already using PayPal

Sales – Paypal Income (default)

  • Choose one from the list for income account

PayPal Fees – PayPal Fees (default)

  • Choose one from the list if you already have preferred merchant fees account

Sales Tax – PayPal Sales Tax (default)

  • Do not use default one. Use from the list you are using or newly created, the one with correct tax agency name.

Payment Method on Transactions – PayPal (default)

  • Give them some credit for giving you free app. If not, you can use other payment method

PayPal Customer > All Details
Three to choose from

  • Do not track – no customer selection: It will create Sales Receipt with no customer selection (blank “choose a customer” field). If payment received is from sales, it’s better not to select this one.
  • Integration Default – All Sales assigned as one customer: This one is perfect if you do not want to track sales by customers like daily sales type of record
  • All Details – Sales Receipt with entered fields on Sales Receipt form: This one is perfect for customer tracking and running various meaningful sales reports.

change app settings

You may have noticed that the following transaction types are not mentioned:

  • Bank Transfer
    It will automatically create “PayPal Funds Transfer Account” and transfer the funds to that account. Since it is coming out from the PayPal account, you should see as negative amount on the balance sheet ( or bank register). So, on the banking center (bank feed), when you see money coming in from PayPal account, you will have to choose this “PayPal Funds Transfer Account” rather than actual PayPal Bank account to clear the balance. If you are entering manually, enter as bank transfer (create + sign > other > bank transfer)
  • For shipping charges from Sales Receipt, it will automatically create PayPal Shipping as Item and also post to Shipping Income account.
  • For Purchases – everything goes to Uncategorized Expense (default) accpunt. No choice here. From there, you will have to manually categorize expenses to proper accounts. You will see more details below on how to handle it.
  • In case you own multiple Paypal accounts and you are transferring money from one PayPal account to another PayPal account (not bank transfer), it may create sales receipt and will record as income. That is incorrect. You will need to pay attention to that type of transactions and handle it appropriately on your books. Be warned!

Step#8 and Final
you are all set

Once they appear in QuickBooks, you will need to run the following reports (or more) for review:

  • Account Quick Report for PayPal Bank Account
    Left navigation bar > transactions > chart of accounts > PayPal Bank Account > Action > Run Report (pull down arrow next to view register).
    This quick account report should show all transactions (sales receipt, expense, transfer) type.
  • paypal bank account
    Note: Customized report with few columns removed.

  • Account Quick Report for PayPal Funds Transfer Account
    Left navigation bar > transactions > chart of accounts > PayPal Bank Funds Transfer Account > Action > Run Report (pull down arrow next to view register)
    You really need to pay attention to this account. This account should end up with zero balance once transactions are added from the bank feed for “money-in”.
  • paypal funds transfer account
    Note: Customized report with few columns removed.

  • Uncategorized Expense Account
    Left navigation bar > transactions > chart of accounts > Uncategorized Expense Account > Action > Run Report
    You will need to run this report on a regular basis. You may want to customize this as your own report.
    To customize, run this report > change “Transaction Dates” to “All Dates” > select “Run Report” > select “Save Customizations” button > Name of custom report = PayPal Uncategorized Expense > share with other users if needed > OK

    Now, it is time to categorize these expenses to appropriate accounts one by one manually until they are all gone. “This report contains no data”. Yes, that’s what you want to see!

  • uncategorized expense

  • Next time you want to run this report again, it comes in very handy. Will save you time.
    Left navigation bar > reports > my custom reports > select PayPal Uncategorized Expense under Name column > click it and categorize to appropriate accounts.

    my custom report for paypal uncategorized expense

 

#QuickBooks Online

 


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Categories
Customer Center Customers Invoice

Is there a way to check the status of emailed Invoices “sent” and “viewed” by customers?

Yes. To see which invoices were sent and viewed by clients:

From the home page screen

  • Left blue navigation bar
  • Click Transactions
  • Select Sales
  • Click Filter
  • Under Type select Invoices
  • Click Apply

Under the column Status* (between total and action), invoices that have been sent electronically are labeled Sent.
–  (Open Sent) labeled for recent Invoice payment not due yet
–  (Overdue Sent) labeled for invoice past payment due date
–  (Open view) labeled for invoice actual viewed by client
*In case STATUS column is blocked adjust column-width a bit.

You can click any actual invoice and under activities at bottom, sent and viewed (if viewed by client) will have date and time information.

Click on the screenshots below to enlarge them
sent viewed

sent activitites

sent viewed activities

 

You can also receive an emailed copy of each invoice you send out.

To do this:

  • Click the Company Gear Icon (upper right corner)
  • Select Company Settings
  • Select Sales
  • Click Messages
  • Check the box Email me a copy
  • Save

 

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Categories
Credit Memo Customer Center Customers

How can I record a credit memo to a member (customer) and also have it record an expense?

Example: My Club charges $200 monthly dues. Member bought $30 office supplies with receipt. How to record in new QuickBooks so it will show $170 Net amount due on Customer’s account screen.

My Club charges monthly dues.

  • Create Invoice for $200 as a regular invoice

 When members purchase things for the organization/club

  • Create Credit Memo

What’s Product/Service code to use on Credit Memo?

  • See attached screenshot for reference. In this example, member buying office supplies. Creating credit memo will record office supplies as expense and will show credit on the Member’s account.

With these two transactions, it should show Net amount as OPEN (Invoice as open and credit memo as unapplied) on Customer account screen (see photo#2).

office supplies

members buying

helpful video2

Helpful video

How can I record a credit memo to a member customer and also have it record an expense

Categories
Invoice QBO QuickBooks QuickBooks Online QuickBooks Online QBO

How do I search for my Invoices by the Customer PO number in new QuickBooks Online?

From the home page screen

  • Select “Search Transactions” icon (magnifying glass, top middle screen)
  • Select “Advanced Search”
  • Search = Invoices
  • Change “Customers” default to “Custom Field” assigned for Customer PO Number (It could be Field 1 or Field 2 or Field 3)
  • Select “Search” button
Magnifying Glass
Magnifying Glass

How do I search for my Invoices by the Customer PO number in new QuickBooks Online


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Categories
Invoice

I like to create Customer Invoice in new QuickBooks Online. But, is it possible to skip tab field from customer to invoice date to product column.

There is no way to change the order that the tab key takes from field to field. You will just need to move tab field manually.

To add this new feature request, add your voice here:
http://feedback.qbo.intuit.com/

Categories
Customer Center Customers Customers Center Uncategorized

How do i find the date the invoice was sent to Customer/Client in new QuickBooks Online (QBO)?

From the home page screen

  • Select the blue navigation bar on the left
  • Select Customers/Clients Center
  • Select Customer/Client
  • Filter to show “Open Invoices”
  • Click the Invoice Sent link under Status column

Another way is to add “Last Delivered” columns under Transactions list. Select small gear icon (middle-right corner, just under Create new blue button)
See screenshot photos for reference.

Transactions Status Activities
Transactions Status Activities

Transactions Last Delivered Status
Transactions Last Delivered Status
Categories
Customer Center Customers Customers Center Print Checks Refund Receipt

How to write a refund check to a customer against already issued credit memo? I do not see any options for applying the credit or printing a refund check.

I am trying to write a refund check to a customer against already issued credit memo, but I do not see any options for applying the credit or printing a refund check.

It involves two steps process to write a check and apply the credit memo against that issued check to a customer.

Step # 1
Write a check (create + sign > select Check under Vendors)

Two critical information to fill out > choose a payee, in this case Customer > Account = Account’s Receivable (A/R)

Write check for customer refund
Write check for customer refund

Step # 2 Receive Payment to clear refund and check in customers’ account

Go back to Customer’s Center > Locate the Customer > You will notice 2 open invoices notice under “Pending Invoices” column > Under Action column, select “Receive Payment” > You will notice both Check and Credit with net zero amount here > Save and Close. Done.

Receive payment to clear customer credit and refund
Receive payment to clear customer credit and refund
Categories
Bank Deposit Bank Register Banking Customer Center Customers QuickBooks Payments

How do I see if a customer/client has paid their invoice by credit card in new QuickBooks Online?

How do I see if a customer/client has paid their invoice by credit card in new QuickBooks Online?

Intuit QuickBooks Payments Login Screen
Intuit QuickBooks Payments Login Screen

Assuming you have opened merchant services with Intuit QuickBooks payment account, to check and verify the customers credit card payments you’ve received

You can visit

https://merchantcenter.intuit.com

  • Go to Activity
  • Select Reports
  • Select Deposits
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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