Sometimes you'll see a different balance in Chronicle that in QuickBooks. Most often, this will be a zero balance in QuickBooks while an outstanding balance remains for the job on the receivables list and the accounting panel in Chronicle. The problem is that a payment or credit exists in QuickBooks that has not been applied to the invoice in QuickBooks. For example, if a job has a $5,000 invoice in QuickBooks, and if you then add a $5,000 payment in QuickBooks, QuickBooks will tell you that the customer has a zero balance. However, since Chronicle is concerned with the standing of each job, and since a customer could have multiple outstanding invoices for different jobs, Chronicle doesn't regard any job's invoice as paid until the QuickBooks payment is actually applied to the invoice. So, when you find zero balance customers in QuickBooks that are still showing balances in Chronicle, you can be reasonably certain that the problem is related to the payment or credit not being applied to the appropriate invoice.
Unapplied payments is a common problem, so we recommend that you periodically check for this situation.
To check for this situation in QuickBooks, go to the Reports menu, highlight Memorized Reports, highlight Customers, and click Open Invoices. Any customers that appear on this report with a zero balance have unapplied credits.
When you go to the Receive Payments option and pick this job, you see a screen like this:
Notice that the two invoices have no payment listed, and that the bottom right lists Unused Credits that equal the value of the invoices. (You would have the same problem if an amount was listed in the Unused Payment line.)
To correct this, click each invoice line, click Set Credits (or Auto Apply), and click Done on the credit application screen that comes up. When you are done, the Unused Credits line should show $0.00. If you were to rerun the Open Invoices report, you should find that this customer is no longer listed because, now that the credits are applied, the invoice is no longer considered open. After Chronicle next links to QuickBooks, the Accounting panel and the Receivables list will be correct there.
Please sign in to leave a comment.