Quick! I need a Quickbooks Wizard!
May 27, 2008 7:04 AM Subscribe
Feh. I'm straightening out the accounts of a not-for-profit as a volunteer and putting them onto Quickbooks. Before I got my hands on their books, someone paid the same bill twice. How do I enter two checks for one bill and still take the credit on a future bill?
One bill paid with two checks. This was done before they had Quickbooks. I'm entering the data since 1/1/2008 so that they can have a clean set of numbers for their annual reporting this year.
I entered the bill into Quickbooks. Applied the first check to that bill. Now I have a second check to enter and no bill to apply it to.
I could enter it as a credit but that wouldn't supply an entry that could be used in the account reconciliation. Frustrating.
Any ideas, oh Quickbook wizards?
One bill paid with two checks. This was done before they had Quickbooks. I'm entering the data since 1/1/2008 so that they can have a clean set of numbers for their annual reporting this year.
I entered the bill into Quickbooks. Applied the first check to that bill. Now I have a second check to enter and no bill to apply it to.
I could enter it as a credit but that wouldn't supply an entry that could be used in the account reconciliation. Frustrating.
Any ideas, oh Quickbook wizards?
Someone else double-paid your organization or someone in your organization double-paid someone else?
posted by winston at 11:52 AM on May 27, 2008
posted by winston at 11:52 AM on May 27, 2008
Response by poster: Our organization paid someone else twice. A utility company to be precise. Electric bill was paid with two separate checks.
posted by jeanmari at 12:09 PM on May 27, 2008
posted by jeanmari at 12:09 PM on May 27, 2008
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Later, reconcile it as a 'credit' on a future invoice. [The 'help' menu will step you through this].
If a future invoice is either unlikely or doesn't occur, issue a cheque back to them (preferred in my book, credits are so ephemeral).
My account keeping is so much better than anyone else's - [not trying to big note myself here but…] - I say this because I have had to correct clients and suppliers accounts occasionally, sometimes reviewing a couple of years of transactions.
Issuing a cheque is always easiest and avoids confusion for both parties.
It's good PR too - Hey! you paid me twice, here's your money back, thanks for your future business.
posted by tellurian at 7:41 AM on May 27, 2008