QuickBooks for Mac 2014 User’s Guide 112
To handle down payments and overpayments:
1 Enter the payment in the Receive payments window. Caution: If you're recording a down payment,
and you are doing more than one job for the customer, be sure to specify both the customer name
and the job name in the Customer:Job field. This ensures that QuickBooks will apply the down
payment to invoices for the correct job.
2 For an overpayment, apply as much of the payment as you can to outstanding invoices.
3 Note the leftover amount in the Unapplied Amount field. If the payment is a down payment and
there is no invoice yet, the entire payment amount is displayed in the Unapplied Amount field.
QuickBooks holds the unapplied amount with this customer's name so that when you do have an
invoice for this customer, you can apply the down payment amount.
4 (Optional) Click Print Credit Memo to give the customer a receipt for the down payment or
overpayment. The credit memo is for your customer only. It does not become part of your financial
records in QuickBooks.
Applying a discount for early payment
When you enter a customer payment for an invoice, the Receive Payments window has a “Discount Info” button.
You can use this button to give the customer a discount if your payment terms include a discount for payment
before the due date. Even if the customer has sent you a payment for the full amount of the invoice, you can apply
a discount.
Note: To apply discounts to statement charges, go to the Accounts Receivable register for the customer and use a
Discount item.
To apply a discount for early payment:
1 Enter the customer's payment in the Receive Payments window.
2 Click the line of the invoice to which you want to apply the discount.
3 Click Discount Info.
4 (Optional) Change the amount of the discount. QuickBooks calculates a suggested discount amount
based on your payment terms with the customer and the payment date.
5 Enter the name of the account you use to track the discounts you give to customers.
When you’ve applied payment to the wrong invoice
If you apply a payment to the wrong invoice, you can correct the error by editing the payment transaction.
To correct the application of a payment:
1 Open the accounts receivable register.
2 Double-click the payment transaction you want to change.
3 Correct the error in the Receive Payments window.
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