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How To Receive a Customer Payment in Quicken Home & Business

Updated: 5/22/2012 | Article ID: GEN82518

When you receive a payment from a customer, you can use the Customer Payment form to enter the amount of the payment and specify which invoice you want to apply it.

  1. Click on Business on the top menu bar, select Invoices and Estimates, then Receive Customer Payment.
  2. Enter the Customer name from the Customer drop-down menu.
    Quicken displays any outstanding invoices from this customer at the bottom of the form.
  3. Click on an invoice or invoices due, and Quicken will track the amount of payment. Or, you can enter the amount of the payment manually.
    • Clear Payments: When you enter a customer name and payment amount, Quicken applies the amount to the oldest invoice. If you want to apply the payment to a different invoice, select the one you want by clicking Clear Payments)and then clicking the Pay column next to the correct invoice.
    • Existing Credits: Existing Credits for a customer consist of any amounts from transactions that resulted in credit to the customer, such as an overpayment or a credit memo. Quicken displays this amount as soon as you enter the customer's name. To apply existing credits to invoices, select the Apply Existing Credits check box.
    • Total to Apply: The sum of the current payment amount and the customer's existing credits (if the check box is selected). It is the total amount available to apply to invoices. Quicken calculates this amount after you enter the amount of the current payment or select the check box to apply credits. If the total includes both existing credits and a payment, Quicken applies the existing credits to open invoices first. It then applies the current payment amount.
    • Unapplied Amount: If you have Auto Apply turned off, Quicken recalculates the Unapplied Amount each time you apply part of the payment to an invoice. Initially, the figure displayed is the same as the Total to Apply amount. As you apply the payment to invoices, the Unapplied Amount field shows the difference between the Total to Apply amount and the totals shown in the Payment column. When the Total to Apply amount is applied completely, the Unapplied Amount becomes 0.00.
  4. Select the name of the account into which you want to deposit the payment.
  5. Click Enter.
 
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