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Subject Author Date
Problems with contras on QB Pro peter 07-12-2008
Posted by peter on July 12, 2008, 11:19 am
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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

Posted by Haskel LaPort on July 12, 2008, 12:07 pm
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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?

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


Posted by peter on July 12, 2008, 1:45 pm
Please log in for more thread options
>
>
>
>
>
>
> >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. =A0I did not memorize your previous pos=
ts
> 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 -

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.

Posted by qbhelper@jenniferthieme.com on July 13, 2008, 2:08 pm
Please log in for more thread options
> 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



Posted by qbhelper@jenniferthieme.com on July 13, 2008, 2:16 pm
Please log in for more thread options
On Jul 13, 11:08=A0am, "qbhel...@jenniferthieme.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?
>
> > 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.jenni=
ferthieme.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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