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Handle down payments and overpayments

If a customer sends you more money than he or she owes, there will be an amount left over after you have applied the payment to invoices. QuickBooks keeps track of the credit amount so you can apply it the next time the customer owes you money.

If you're recording a down payment and you are doing more than one job for the customer, specify both the customer name and the job name in the Customer:Job field to make sure that QuickBooks applies the payment to invoices for the correct job.

If the payment is an overpayment, you'll want to apply as much of the payment as you can to outstanding invoices.

Enter a down payment or overpayment

To do this task

  1. Enter the payment in the Receive Payments window.

    1. Click the Received From drop-down list and choose the Customer name.

    2. Enter the amount of the overpayment or down payment.

    3. Click the Pmt. Method drop-down arrow and choose a payment method.

      The overpayment box appears where you can choose whether to leave the payment as a credit or issue a refund for this amount.

    If the payment is a down payment but there is no invoice yet, leave it as a credit to be used later so that when you have an invoice for this customer, you can apply the down payment amount.

  2. (Optional) Click the Print drop-down arrow and click Print Credit Memo to give your customer a receipt for the down payment.

  3. Save the payment.

    Save the payment.

See also

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