Account balance incorrect after invoice payment (edited)

WM Myra · June 4

A client paid his invoice. I assigned his payment to his invoice before I deposited it. Then when Simplifi updated the info from the bank, it added that amount to the Simplifi total. It looks like I took in the payment twice now. My balance was right with the bank until this deposit. How can I get the amount to not show the payment added in twice? If the answer is Undeposited Funds first before the actual bank deposit, please explain how to do that. Thanks!

Coach Jon · June 4

Hello @WM Myra,

Thanks for reaching out! To help understand what is going on here, can you please clarify whether the account balance is correct? Or did the double payment cause the account balance to show incorrectly? Additionally, did you create a manual transaction and then apply it to the invoice as a payment before the transaction cleared the bank? Please let us know!

WM Myra · June 8

Coach Jon,

The deposit caused the balance to show incorrectly. Since it was my first time recording a client payment in Simplifi (I was used to the old Quickbooks), I applied their payment to their invoice before I deposited the check. Which I realize now was the wrong thing to do…

WMMyra

Coach Jon · June 8

Hello @WM Myra,

Thanks for the reply! To confirm, were you able to get this corrected? You can edit the payment assignment and remove the payment via the steps in this article if you haven't already: https://support.simplifi.quicken.com/en/articles/11125303-how-to-apply-payments-to-invoices-in-quicken-business-personal#h_ce91c61c96

You can then link the deposit transaction and apply the payment. https://support.simplifi.quicken.com/en/articles/11125303-how-to-apply-payments-to-invoices-in-quicken-business-personal#h_b8e51904da

Let us know!

WM Myra · June 9

Coach Jon,

I was afraid at first to delete the original payment but it worked out! Simplifi and the bank now agree. Another question: Another client wrote her check for $5.00 more than the invoice which I didn't realize until after the deposit was made. Will the extra $5.00 just go on her account for the next invoice?

I'm doing ok with this new Simplifi and I like it so far but the payments and deposits are totally backwards to what I'm used to. Thanks for your patience helping me work this out!

WM Myra

Coach Jon · June 9

Hello @WM Myra,

Thanks for reaching out! I am glad things worked out! To answer your question, you cannot overpay an invoice. Any excess payment will be credited to the client and can be applied toward future payments. https://support.simplifi.quicken.com/en/articles/11125303-how-to-apply-payments-to-invoices-in-quicken-business-personal#h_dfacc26260

Let us know if you need anything else!

Account balance incorrect after invoice payment (edited)

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