QuickBooks plays a significant role for the bookkeepers when they find customers making entries for their payments without applying the same to their accounts payable. Learn steps to delete unapplied payments in QuickBooks.
Unapplied payments mainly imply that you have performed the operation of receiving a payment yet it isn’t attached to an invoice.
Let’s understand in detail. Read on!
What are Unapplied Payments in my QuickBooks account?
In simple terms, unapplied payment means that the payment is received, however, it is not attached with any particular invoice.
For accountants, if any particular client made an entry for their specific payment, however, he/she did not apply the same to their accounts payable, then it is Unapplied Payment. Here QuickBooks plays a major role.
Why QuickBooks Display the Particular Unapplied Payments?
It might be confusing for you to understand the reason why QuickBooks show unapplied payments even after the credit memo, along with journal entry, and different payments are in place.
Here’s a list of possibilities for the appearance of unapplied payments in my QuickBooks account:
- The occurrence of unapplied payments can take place when the credit memos may not be linked to the particular invoice.
- Unlinked journal entries can again be a main reason for the advent of unapplied payments.
- Any other payments, which might not be linked to the particular invoice, can be the reason for unapplied payments.
Thus, even if the credit memos, journal entries, and other payments are in place, if they lack connectivity to the particular invoice, QuickBooks will show unapplied payments. For future use, it is recommended that you link up the invoice with credit memos, journal entries, and other payments to the particular invoice to avoid such an occurrence.
This article will provide you with a step-by-step procedure to delete or remove the particular unapplied payments from QuickBooks.
How to Delete Unapplied Payments in my QuickBooks account?
After you have finished removing the invoice for which the unapplied payment was made. You have to create a sales receipt for the payment after which you can delete or remove unapplied payments in my QuickBooks account.
Follow the given steps to delete unapplied payments in my QuickBooks account:
Step 1: Open the QuickBooks desktop and go to the Sales menu.
Step 2: From the Sales menu, select the Customers tab.
Step 3: Now you have the select the customer name for which the payment needs to be deleted.
Step 4: Find the Transaction List tab.
Step 5: Click on Payments from the Transaction List tab.
Step 6: Click on the More option at the bottom of the page.
Step 7: Select the Delete option and confirm by hitting Yes.
You can successfully remove the particular unapplied payments from QuickBooks by following these simple procedures.
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How do I Apply for Unapplied Payments in my QuickBooks account?
You are required to make an invoice in order to apply for an unapplied payment.
Follow the steps given below to apply for an unapplied payment:
Step 1: Under the Customers heading, create an invoice.
Step 2: Enter all the required details to successfully match the invoice and the unapplied payment.
Step 3: Click on the particular Save option.
Step 4: From the top right-hand corner, select Receive Payments.
Step 5: Try and locate the Credit section.
Step 6: Click on Unapplied Payment.
Step 7: Finally, Save the particular changes made and then click on the Close button.
What to do after I find and also fix Unapplied Payments in my QuickBooks account?
Once you have finished finding and fixing the particular unapplied payments in my QuickBooks account, you can simply run your report in which these payments might be causing issues.
In this way, you can efficiently have a check if you are having any problems or issues in the report associated with unapplied payments.
Apart from issues concerning unapplied payments, it acts as a check on any other problems that might be existing in the report. You can then fix any issue that occurs or connect with the QuickBooks helpdesk for assistance.
How do I Delete Unapplied Payments in my QuickBooks account?
To delete the unapplied payments in my QuickBooks account, you have to run the unapplied payment account and then remove it from there itself.
Perform the following steps to do so:
Step 1: Open the QuickBooks desktop and click on Accounting from the menu appearing on the left side of your screen.
Step 2: Now go and select the particular Chart of Accounts option on the top.
Step 3: In the search bar, type in Unapplied Payment.
Step 4: Locate the Action column and click on the Run Report link.
Step 5: You have to specify the Report period where the payment might be belonging.
Step 6: Using the Group by option, filter out and select Transaction Type.
Step 7: Now hit Run Report.
Step 8: You have to search for the required transaction and click on the Payment link.
Step 9: Click on More at the bottom of the Receive Payment window.
Step 10: Select the Delete option from the menu and click on Yes to confirm the deletion.
What is Unapplied Payment Income in QuickBooks Online?
QuickBooks Online automatically creates two sets of accounts for unapplied payments. These accounts are created if you report on a cash basis and they cannot be deleted or altered.
The two types of accounts that are created by QuickBooks Online are:
Unapplied Payment Income
Unapplied Bill Payment Expense
Unapplied Payment Income refers to that account in which the income that you receive from payments made by the customers on a cash basis is not applied to any of the sales forms. In short, it refers to the situation where the income remains undeclared on the sales form even after you have received the money.