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peter
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 Posted: Sat Jul 12, 2008 3:19 pm Post subject: Problems with contras on QB Pro |
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I used previous posts to help with contra payments (many thanks to
all). The method that I went with was:
a) Making an expence account called Contra. Then making two journal
entries - one for the accounts receivable and one for the accounts
payable for the amount of the contra.
b) Going into pay bills and also receive payments and use the set
credits options to pay off the bill and receive the payment using the
contras.
Trouble is....
I realise that I made a mistake in asigning contras against the wrong
invoices/bills. This means that when I go to enter a payment against a
bill i find that it already been partly paid.
I just don't have the knowledge to work out which report to look at to
see where I've previously entered credits. Sorry, but I'm somewhat of
a newbie.
Can anybody help?
Peter |
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peter
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| Posted: Sat Jul 12, 2008 5:45 pm Post subject: Re: Problems with contras on QB Pro |
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On Jul 12, 5:07 pm, "Haskel LaPort" <QBFan...@gmail.com> wrote:
| Quote: |
"peter" <solv...@googlemail.com> wrote in message
news:039f32a0-0134-43a1-9c88-5f6ff23c38ec@m73g2000hsh.googlegroups.com...
I used previous posts to help with contra payments (many thanks to
all). The method that I went with was:
a) Making an expence account called Contra. Then making two journal
entries - one for the accounts receivable and one for the accounts
payable for the amount of the contra.
b) Going into pay bills and also receive payments and use the set
credits options to pay off the bill and receive the payment using the
contras.
Trouble is....
I realise that I made a mistake in asigning contras against the wrong
invoices/bills. This means that when I go to enter a payment against a
bill i find that it already been partly paid.
I just don't have the knowledge to work out which report to look at to
see where I've previously entered credits. Sorry, but I'm somewhat of
a newbie.
Can anybody help?
Perhaps you can help us help you. I did not memorize your previous posts
about contras and therfore have no idea what you are talking about.
Peter- Hide quoted text -
- Show quoted text -- Hide quoted text -
- Show quoted text -
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sorry, what I meant to say was a thank you to the group as previous
postings had led me to the method that I detailed above for making
contras. |
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Haskel LaPort
Guest
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| Posted: Sat Jul 12, 2008 9:07 pm Post subject: Re: Problems with contras on QB Pro |
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"peter" <solvino@googlemail.com> wrote in message
news:039f32a0-0134-43a1-9c88-5f6ff23c38ec@m73g2000hsh.googlegroups.com...
| Quote: |
I used previous posts to help with contra payments (many thanks to
all). The method that I went with was:
a) Making an expence account called Contra. Then making two journal
entries - one for the accounts receivable and one for the accounts
payable for the amount of the contra.
b) Going into pay bills and also receive payments and use the set
credits options to pay off the bill and receive the payment using the
contras.
Trouble is....
I realise that I made a mistake in asigning contras against the wrong
invoices/bills. This means that when I go to enter a payment against a
bill i find that it already been partly paid.
I just don't have the knowledge to work out which report to look at to
see where I've previously entered credits. Sorry, but I'm somewhat of
a newbie.
Can anybody help?
|
Perhaps you can help us help you. I did not memorize your previous posts
about contras and therfore have no idea what you are talking about.
|
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qbhelper@jenniferthieme.c
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| Posted: Sun Jul 13, 2008 6:08 pm Post subject: Re: Problems with contras on QB Pro |
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On Jul 12, 8:19 am, peter <solv...@googlemail.com> wrote:
| Quote: |
I used previous posts to help with contra payments (many thanks to
all). The method that I went with was:
a) Making an expence account called Contra. Then making two journal
entries - one for the accounts receivable and one for the accounts
payable for the amount of the contra.
b) Going into pay bills and also receive payments and use the set
credits options to pay off the bill and receive the payment using the
contras.
Trouble is....
I realise that I made a mistake in asigning contras against the wrong
invoices/bills. This means that when I go to enter a payment against a
bill i find that it already been partly paid.
I just don't have the knowledge to work out which report to look at to
see where I've previously entered credits. Sorry, but I'm somewhat of
a newbie.
Can anybody help?
Peter
|
The only way to unapply a vendor credit is to delete it. Your
"contras" are credits. Therefore, they will need to be deleted to be
unapplied, then re-entered, then reapplied to the correct vendor bill.
A/R credits can be unapplied by going to the invoice, clicking the
Apply Credits button, and unchecking the credit in the Apply Credits
window.
Jennifer
Signup for free QuickBooks help, delivered to your inbox:
http://www.jenniferthieme.com/quickbooks-help-free-ezine.html |
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qbhelper@jenniferthieme.c
Guest
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| Posted: Sun Jul 13, 2008 6:16 pm Post subject: Re: Problems with contras on QB Pro |
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On Jul 13, 11:08 am, "qbhel...@jenniferthieme.com"
<jathi...@gmail.com> wrote:
| Quote: |
On Jul 12, 8:19 am, peter <solv...@googlemail.com> wrote:
I used previous posts to help with contra payments (many thanks to
all). The method that I went with was:
a) Making an expence account called Contra. Then making two journal
entries - one for the accounts receivable and one for the accounts
payable for the amount of the contra.
b) Going into pay bills and also receive payments and use the set
credits options to pay off the bill and receive the payment using the
contras.
Trouble is....
I realise that I made a mistake in asigning contras against the wrong
invoices/bills. This means that when I go to enter a payment against a
bill i find that it already been partly paid.
I just don't have the knowledge to work out which report to look at to
see where I've previously entered credits. Sorry, but I'm somewhat of
a newbie.
Can anybody help?
Peter
The only way to unapply a vendor credit is to delete it. Your
"contras" are credits. Therefore, they will need to be deleted to be
unapplied, then re-entered, then reapplied to the correct vendor bill.
A/R credits can be unapplied by going to the invoice, clicking the
Apply Credits button, and unchecking the credit in the Apply Credits
window.
Jennifer
Signup for free QuickBooks help, delivered to your inbox:http://www.jenniferthieme.com/quickbooks-help-free-ezine.html- Hide quoted text -
- Show quoted text -
|
Looking at your post again, I see that you asked about how to run a
report to locate previously entered credits.
Open credits for A/R can be found by running an Open Invoice report:
Reports > Customers & Receivables > Open Invoices
Open credits for A/R can be found by running an Unpaid Bills report:
Reports > Vendors & Payables > Unpaid Bills Detail
Look along the left column for "Credit Memo" or "Credit". These have
been entered but unapplied.
Off the top of my head I don't know how to create a report for applied
credits.
Jennifer
Signup for free QuickBooks help, delivered to your inbox:
http://www.jenniferthieme.com/quickbooks-help-free-ezine.html |
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