Accounting & Bookkeeping & Small Business Forum

[Jennifer]

I'm in the receive payments module. It has the total amount that was on the invoice. The amount was paid off with two payments. Total is $78000 and payments were $39000 each. I changed the amount at the top to $39000 and clicked save and new. It doesn't put the $39000 in the make deposits module and the receive payments module has a box on the bottom left saying it was an underpayment and two choices to handle it. What am I missing or doing wrong?

[Jennifer]

BUMP

[Steven W. Nye]

Sorry, Jennifer....I have no clue. Maybe someone will come along that knows the answer.

Sometimes, there's nothing 'quick' about QuickBooks.

[meyerbooya]

OK - I will answer your questions in order:

"It doesn't put the $39000 in the make deposits module "
- Is the preferences in your system set to deposit the funds into "Undeposited Funds"/"Make Deposits." It probably is not, so you will go to Edit:Preferences:Sales and Customers:Company Preferences. At the bottom of that screen you will notice a "Receive Payments" box and from here, be sure that "Use Undeposited Funds as a default deposit to account" is marked. (From QB 2006, however most versions have the same kind of preferences. If you do not see this with your version, let me know and I can look at a version that is the same as yours.)

"the receive payments module has a box on the bottom left saying it was an underpayment and two choices to handle it"
- Your first payment of 39,000 will state this as you have not received the full amount of the invoice. You will want to leave this as an underpayment. Once you have posted the next payment of 39,000, the invoice will be zeroed out and you will not have that box for that particular invoice.

I hope this helps.

[Jennifer]

You know what? I actually figured that out on my own. I guess I had to go away from it for a bit. Thanks for the response!