u/Thomato_Yorke

SOLVED

Hi all - a little confused on how best to handle this one.

We had a client pay an open invoice using credit card through the paynow link on our invoice. The amount was $70k and for some reason, it was paid in several chunks in a single day, 5 payments totalling $70k. Not sure if they processed it that way or if QB had a limit on how much they could make in a single payment or what.

Regardless, it marked the invoice paid based on those card payments. Separately, when the payment hit our bank, it was as a single entry for the full $70k (not the 5 small payments) and now the invoice is cleared from AR, and QB recorded those incoming 5 payments, but I still have the $70k bank deposit to record, but no open AR to book it to. It defaulted to undeposited funds and is showing as a ($70k) on AR.

How do I best clean this up?

I always find the QB autopayments cause weird issues like this. Have had other ones in the past, but for a former client, so I don't recall what the fix was and can't look at history to follow the same method.

Would appreciate some advice here. Thanks!

EDIT -

Thanks all for the replies, I was able to sort it. I applied the incoming bank transaction to the Undep funds entries, and treated that extra $70k payment as a duplicate. I zeroed it out and all ties out now. The issue is when QB autobooks CC payments, you don't need to manually create an Accept Payment against an invoice. We've never used the QB autopay features before, so was just unfamiliar.

Thanks again for the replies.

Hey all - I am about to apply for my 1st card. I'm approved for an Amex Gold Card, but want to make sure it's a smart choice for me.

General details -

46m, ~$130k/yr wages, plus some ETFs/investments which bear modest gains. I have $0 debt.

I've always done pay as you go with debit cards, but want to improve my credit. I applied for a Capital One card 3 years ago and was offered a very low spending limit of only $300/mo due to low credit history.

I instead signed up for a Chime Card (backed by Visa) - it works like a prepaid credit card. I fund a checking account and use the card against that, but the purchases are credit affecting rather than debit charges. My credit score is good (726 - FICO via CapitalOne).

It's been 3 years and I'm ready to get a better card than Chime. My usage is daily/monthly expenses--groceries/general, dining out, bills, rent, etc and I'd always pay in full at end of month. Essentially I'd treat it like my debit card, but pay via credit then pay it off from checking on due date.

As for benefits--I do like to travel, so travel rewards might be nice, but so would cash back. I'm open to whatever. Not really sure what is "better."

Is Amex Gold smart for my use case? Or is there something that better fits my scenario? I could try applying for Cap One again, but I have a feeling they'd still offer me a low spending limit. The Gold Card has no preset spending limit and looks like I'd be able to use it as I want--to pay all general expenses and then fully settle at end of month, and to build my credit history as such.

Note - I did search the forum first for "first time card" posts and read them, but most of them seem to be college kids or similar, and the recommendations were tailored for that. As I'm older, make decent money, and would like to approach improving my credit more aggressively, I thought it better to ask.

Thanks in advance, all!