AboutLinda Saltz, CPA, QBalance.com Expertise QuickBooks best practices, troubleshooting, accounting, tax
We have over 70 pages of website content about QuickBooks tips,
running a business, tax and business startup at http://www.qbalance.com
Experience Accountant and CPA over 20 years. Specializing in accounting software for over 12 years, Certified QuickBooks Pro Advisor, QuickBooks seminar instructor since 1997.
Producer of www.QBalance.com over 100 pages devoted to QuickBooks help and support
and training for small business owners in tax and accounting issues.
Question It seems that Quicken HB does NOT offer the ability to select a specific previous overpayment (credit) so that it can be applied to a current invoice. Seems that Quicken bunches all previous credits together into one lump sum and then applies them FIFO to whatever invoices are selected for payment. This is no good for us. How can we select a specific credit to apply?
Thanks much for your assistance.
Answer Hi Tom,
I do not use Quicken home and business, I am a QuickBooks Guru and I use Quicken for my personal finances.
For a software to accomplish what you want to do, it would have to include a pop-up window listing each credit separately so that you could check it. If your Quicken does not automatically open to such a window, you probably will NOT be able to accomplish this. You can check to see if there is a setting that would help you. Go to preferences (Edit menu > preferences) and look for any options involving invoicing.
QuickBooks Pro would be an alternative software for you as it does permit you to specifically identify a credit with an invoice.
It will upgrade your existing Quicken as well, but it does make a bit of a mess. At the bottom of my webpage http://www.qbalance.com/quicken_or_QuickBooks.htm has a list of to dos when converting the file.
Hope this helps,
Linda Saltz, CPA
Advanced Certified QuickBooks Advisor
www.qbalance.com
