Entering payment for an invoice where the payment includes a deduction.

CarolinaSooner

How do I enter payment for an invoice, when that payment, which is automatically deposited, has been reduced by the customer for providing temporary insurance.

For example:

I invoice customer $500 for services rendered.
Customer pays the invoice with an electronic deposit of $475 which includes a line item deduction of $25 for Workers' Comp insurance provided by the customer during the invoice period.

My bank statement then shows a deposit of $475 and I want to settle the $500 invoice. I don't see how to record an expense when editing the transaction details of a deposit of payment for an outstanding invoice.

EmmaP

Hi @CarolinaSooner! Is your customer going to pay you for the full invoice amount eventually, or is $475 the final amount you will receive? You could 'write off' the remaining $25 following the steps in this Wave guide: How to write of an invoice. Doing this will mark the invoice as paid and remove it form your list of overdue invoices.