Right now if I get a payment, it goes to my Checking account and to Accounts Receivable.
I don't want it to credit Accounts Recievable. I want it to go partially to Contracts Recievable and Interest Income.
Is there a way to not have it go directly to Accounts Receivable?
Thanks,
Tom
When you create an invoice, top center select the receivable account
When you use receive payments, top center select the receivable account
I am not sure what you mean.
If I create and invoice, I don't see anything in the top center. Same in the payment screen.
Also, I want to be able to split the payment so that part goes to one account and part to another.
Are you using the 2012?
Thanks,
Tom
Do you have the second receivable account set up? it must be of the type accounts receivable
when you have more than one a/r account set up then QB puts up the box top center of the invoice to make the selection
No I don't.
I don't understand why I would need 2 receivable accounts.
In my case, I am dealing with contracts. Some of the money goes to the receivable account and some goes to interest income. Same as your house loan. Part goes to principle (receivable) and part to interest (interest income).
Tom
You control the flow of the data by using Items.
Items link to accounts.
If the payment is split into Principal and Interest, then you need to use two items. Link one to the loan account and link the other to Interest Income.
It is not the Payment that you control.
It is the Charges that you control.
Hi! Similar question. I want to take a payement and split where different amounts go. We serve lunches and also charge tuition. A 300.00 payment likely would be 200.00 tuition, and 100.00 lunches. How do I do this?
Ann:
"I want to take a payement and split where different amounts go. We serve lunches and also charge tuition. A 300.00 payment likely would be 200.00 tuition, and 100.00 lunches. How do I do this?"
Two Items. One is named Tuition. One is named Lunch.
Again: you are not going to split the Payment.
You are going to itemize the Charges. You control this by using various Items.
How do you do this?
Are you saying, you don't invoice this (or else a payment is going to need to go to a receivables account only)?
How do I set it up as something owed so that I can split the payments between 2 list items (in her case, tuition and lunch - in my case, Loans Recievables and Interest income).
There are various types lists but they don't really match my types: Service, Non-inventory Part, Other Charge, Subtotal,Group, Discount and Payment.
Receive payments don't seem to go to any of the list accounts.
How would this work?
Thanks,
Tom
"Are you saying, you don't invoice this"
No, I am describing it is what you invoice for and not that you used an Invoice or a Sales Receipt.
Invoice = not paid at the time I enter the charges. That is the only difference between Invoice and Sales Receipt. Invoice = Not Yet Paid.
"How do I set it up as something owed so that I can split the payments between 2 list items (in her case, tuition and lunch - in my case, Loans Recievables and Interest income)."
Two items:
Tuition = Service Item, if this is your business and income to you
Lunch = Other Charge type of item, such as a Reimbursed Cost you incurred and are charging back to a customer
"There are various types lists but they don't really match my types: Service, Non-inventory Part, Other Charge, Subtotal,Group, Discount and Payment."
They meet everyone's needs. Don't be too literal; you will Name your items to meet your needs. Type just means, how you want to track this and see it on reports, such as sales by Customer Summary, with column by Item type, allows you to separate Services from other Charges.
Landlord: service = Rent, security deposit = Other Charge.
Construction: service = labor, noninventory = materials, Other Charge = building permits, garbage, etc.
School: service = tuition, class materials = noninventory.
"Receive payments don't seem to go to any of the list accounts. "
That's right. The payment is against the AR. AR is the amount due from the invoice, because you aren't yet paid.
That is why I explain: you don't control the payment; you control the data flow to the income accounts because of the Items. items are what you charged. Items are on a sales form. The sale either is paid or isn't paid. Payment is not Income.
