Tracking by payor

Posted by Joseph N. on May 4, 2009, 6:09 pm

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I use QB Pro to track my company's finances, except that I do not use
it for invoicing because our process management database is tied in to
our invoicing process and it all works nicely well together. That app
has an accounting function, but for several reasons I prefer to use
QB. When fees come in, they are noted first in the process database
and then recorded in QB. There's no problem tying them in to the
appropriate account(s), and I also record the payor. The payors are
on QB's customer list. The problem is that, without using the
invoicing process in QB, I cannot view all the payments from a
particular customer by going in to the customer list and looking at
the linked transactions. To put it another way, although the deposit
appears to link to the customer, it does not show up when viewed by
customer. Is there some way to work around this so I can quickly look
to see what has come in from any particular customer?

Posted by Haskel LaPort on May 4, 2009, 6:36 pm

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>I use QB Pro to track my company's finances, except that I do not use

> it for invoicing because our process management database is tied in to

> our invoicing process and it all works nicely well together. That app

> has an accounting function, but for several reasons I prefer to use

> QB. When fees come in, they are noted first in the process database

> and then recorded in QB. There's no problem tying them in to the

> appropriate account(s), and I also record the payor. The payors are

> on QB's customer list. The problem is that, without using the

> invoicing process in QB, I cannot view all the payments from a

> particular customer by going in to the customer list and looking at

> the linked transactions. To put it another way, although the deposit

> appears to link to the customer, it does not show up when viewed by

> customer. Is there some way to work around this so I can quickly look

> to see what has come in from any particular customer?

Enter the receipt as a sales receipt.

Posted by Joseph N. on May 8, 2009, 4:39 pm

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> > .... Is there some way to work around this so I can quickly look

> > to see what has come in from any particular customer?

> Enter the receipt as a sales receipt.

Thanks. That's an interesting way to go that I had not seen before.
When I tried it in the sample services QB database, it seemed like I
could not link the payment directly to an account but had to link it
to a sales item, which in turn was linked to an account; that behavior
could not be customized around. More significant is the fact that,
once the payment (sales receipt) is completed, the dollars are listed
as being in the "undeposited funds" account, instead of the account
that was linked to the item in the item list. There did not seem to
be a way at that point to change the account. Then, when I make a
deposit of that receipt into "checking," the "undeposited funds"
account is carried over into the "checking" account; there is no way
to change it--no drop-down menu. So, the basic question is, if I use
the "sales receipt" approach, how can I dictate which account the
sales proceeds will be linked to? Obviously, this is necessary for
both accounting and tax purposes.

Posted by Laura on May 8, 2009, 8:29 pm

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> > .... Is there some way to work around this so I can quickly look

> > to see what has come in from any particular customer?

> Enter the receipt as a sales receipt.

>Thanks. That's an interesting way to go that I had not seen before.

>When I tried it in the sample services QB database, it seemed like I

>could not link the payment directly to an account but had to link it

>to a sales item, which in turn was linked to an account; that behavior

>could not be customized around. More significant is the fact that,

>once the payment (sales receipt) is completed, the dollars are listed

>as being in the "undeposited funds" account, instead of the account

>that was linked to the item in the item list.

The purpose of the sales item is to specify the Income account you want to
associate the payment with.

By default, the transaction will Debit Undepositd funds & Credit {account on
sales item}.

>There did not seem to

>be a way at that point to change the account. Then, when I make a

>deposit of that receipt into "checking," the "undeposited funds"

>account is carried over into the "checking" account; there is no way

>to change it--no drop-down menu.

To change the use of the Undeposited funds go to Edit>>Preferences>>Sales&
Customers. On the Company preferences tab unchecked the "use undeposited
funds" option on the bottom of the page. This will now give you the drop
down menu on the sales receipt and Receive payments screens so that you can
select any bank account you want.

>So, the basic question is, if I use

>the "sales receipt" approach, how can I dictate which account the

>sales proceeds will be linked to? Obviously, this is necessary for

>both accounting and tax purposes.

The only thing that you are changing is account the money is deposited into.
You still need to use the Sales Item to specify what income account your
sales are posted to.

Posted by Scott on May 4, 2009, 8:43 pm