Unapplied Credits in Accounts Receivable | CLEARIFY - Page 1

There are many reasons they exist.

Lots of these come from mistakes and lack of understanding how the QuickBooks application works, but in some cases they arise from an intentional client business process.

For example, a contractor who recieves payments from an insurance company and the propery owner during the course of a damage repair job. Rather than creating invoices for each payment received they let them sit in the account unapplied until the project is completed and then create a final invoice and connect all the payments to it.

Currently there is not a way to report on these accumulated payments that have not yet been applied through QQube since it uses the QuickBooks cash basis logic that a payment isn't cash unless it is applied.

I'm sure others can come up with ideas of where this information could be useful, but just at the very basic question of "Do unapplied payments exist, for what customer:job, what amounts, dates, etc.?" for accounts receivable maintenance this would seem to be valuable. Obviously, this can be seen directly in QuickBooks, but not tied together with other aspects of the data using the QQube.

We have added an unapplied payments field to job costing in QQube Version 5

Thanks Uncle Chuck!!!