Linking Transactions - Accounting Software Secrets
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Linking Transactions

Linking Transactions

Linking Transactions

If a previous payment, overpayment, journal entry or credit memo has been entered for a particular customer:job, it will appear next to existing credits in versions 2001 and prior in total. For those versions, check the box to apply the credits to invoice. This procedure will also work if the amount received is zero but the invoice and credit need to be linked.  With 2002 and higher, several warning messages may appear if an invoice is chosen but the payment received is zero.  Acknowledge the error and continue to set the credit against the invoice. It is possible to see the credit amount invoice by checking “Show Discount and Credit Information”

To check for this issue before financial statements or open balance customer statements are issued, the best report is Open Invoices, customized as of report date.  Using the advanced button on the display tab as illustrated below is crucial.  By default the report is Current (faster) which means that the report looks at all transactions that are currently unpaid and then only includes those that are dated the date of the report or before.  What is needed is to review the list of all open transactions as of the date of the report, regardless of if they have since been paid or not.

With version 2005 there were several enhancements to make “linking” transactions more efficient including the ability to apply a credit when creating an invoice and apply a credit to an invoice when saving the credit memo.

More information on this topic


Credit Memos

Receiving Payments and Discounts