How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Robert M. Your Own Question

Robert M.
Robert M., Consultant
Category: Financial Software
Satisfied Customers: 7167
Experience:  30 yrs. of computer experience in financial and marketing departments.
Type Your Financial Software Question Here...
Robert M. is online now
A new question is answered every 9 seconds

I started as a bookkeeper for a non-for-profit education corporation.

Resolved Question:

I started as a bookkeeper for a non-for-profit education corporation. It´s been challenging for me to start doing this activity, but I think I started to get a hold of all simple things related to Quickbooks 2012 for Mac.

The organization has members in it, and members pay a membership fee every month. I do invoices per month per member, which is the easy part. The difficult part is that some members have started to do direct deposit into a bank account. What I want to do is to somehow credit for their direct deposit, and then use the credit in Receiving Payments, but the system is not letting me to do that. On the top of that, the deposit is not just for the member; sometimes they pay for themselves, and for their spouses, who are also members.

I basically followed help here: http://support.quickbooks.intuit.com/support/articles/HOW12963. I was able to edit the deposit as a Split, and allocating half of the deposit towards a member, and the other half towards the spouse member. The account type is Membership Fees. When I go to Receive Payments, I don´t see a credit for the customer or their spouse, so I can´t apply the deposit that was directly made to the bank. The invoices contain items related to Membership Fees only. The support page states that ´Click Discounts and Credits, and place a check mark beside the credit amount you wish to apply.´ I don´t see any option related to Discounts and Credits. I was hoping to see the credit as ´Existing Credits´, but Existing Credits is zero.

Can you please help me with this?
Submitted: 10 months ago.
Category: Financial Software
Expert:  Robert M. replied 10 months ago.

Hi, I'm Robert and I'll be helping you with your financial software question.

 

You would want to create a credit memo for the individual and then apply the direct deposit to the credit memo the same way that you would apply a check to it.

 

then when you create invoices for their various charges you apply parts of the credit memo to each invoice.

 

this page shows how to create the credit memo

http://www.dummies.com/how-to/content/how-to-record-credit-memos-in-quickbooks-2012.html

 

this page shows how to apply the credit memo to an invoice

http://www.samarak.com/applying-credits-to-invoices-in-quickbooks/

Customer: replied 10 months ago.
Hi. Your answer is not what I expected. I found out the correct way is to use a accounts receivable account type in the direct deposit transaction, and then use a wash account to transfer credit to the spouse. The credit memo doesn't sound quite right to me. Thanks!
Customer: replied 10 months ago.
I already replied. Thanks.
Expert:  Robert M. replied 10 months ago.

there are several ways to do anything. You are the one that asked about credits and how to apply them.

 

As long as you have found a way to do it and you are happy than I am happy. The way you are using is more of an accountants way to do it creating new accounts. The way I would do it just applies the credits to the invoices without additional accounts. Both ways work. I prefer to use fewer accounts and be able to see the exact transaction easily. But a cpa would probably find it easier to understand the other way.

 

In any case if you are happy than I am happy.

If you found me to be professional and helpful I would appreciate if you gave me a good rating. If you prefer a refund please email support@justanswer.com rather than giving me a poor rating. If you do neither your money will remain with the site but I will not be paid

 

thank you

 

 

Robert M., Consultant
Satisfied Customers: 7167
Experience: 30 yrs. of computer experience in financial and marketing departments.
Robert M. and 2 other Financial Software Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Robert M.

    Consultant

    Satisfied Customers:

    2624
    30 yrs. of computer experience in financial and marketing departments.
< Last | Next >
  • http://ww2.justanswer.com/uploads/flopcat98/2009-11-02_004348_rob_suit.JPG Robert M.'s Avatar

    Robert M.

    Consultant

    Satisfied Customers:

    2624
    30 yrs. of computer experience in financial and marketing departments.
  • http://ww2.justanswer.com/uploads/DF/dfmcpa7691/2011-1-9_14443_mainprofileimage.64x64.jpg Doug Millington's Avatar

    Doug Millington

    Certified Public Accountant (CPA)

    Satisfied Customers:

    268
    Bachelor of Science Cornell University 1979 - CPA since 1981 - Certified QuickBooks ProAdvisor - 30+ years experience.
  • http://ww2.justanswer.com/uploads/BB/bbl242003/2010-12-15_24730_mr.BruceBecker.jpg bbl242003's Avatar

    bbl242003

    Accountant

    Satisfied Customers:

    182
    MBA
  • http://ww2.justanswer.com/uploads/AN/AnswerCPA/2011-9-25_161544_Photoprofessionalportraitseptia.64x64.jpg AnswerCPA's Avatar

    AnswerCPA

    Advisor

    Satisfied Customers:

    175
    QuickBooks Pro Advisor
  • http://ww2.justanswer.com/uploads/Leanne0424/2010-09-06_222047_Just_Answer.jpg Leanne Stewart's Avatar

    Leanne Stewart

    Quickbooks Pro Certified

    Satisfied Customers:

    153
    QuickBooks certified, in my own business for 7+ years.
  • http://ww2.justanswer.com/uploads/Welltor/2010-04-30_122105_welltor.jpg David Bennett's Avatar

    David Bennett

    Certified QuickBooks ProAdvisor

    Satisfied Customers:

    91
    16+ yrs exper. QuickBooks Specialist, contract accounting technician, consultant & trainer!
  • http://ww2.justanswer.com/uploads/JG/jgordosea/2012-6-7_43138_GordosVeritas.64x64.jpg jgordosea's Avatar

    jgordosea

    Enrolled Agent

    Satisfied Customers:

    75
    Three years as Expert support for Turbotax Ask a Tax Expert, Quickbooks support and use >6 yrs