Frequently Asked Questions

Here are answers to Frequently Asked Accounting Questions.


Can I Switch from RFP A/R to RFP Liability?
Yes, you can! First a little background. When the Request for Payment system was first developed, we built it using the Accounts Receivable model. As we started working with Community Members we realized we could build an even better mousetrap and viola! RFP Liability was born! So, now you want to switch to the new and improved RFP process. Here are the steps you’ll need to take.
  1. Go to Settings > Module Settings > Proposals > Accounting. Here you’ll want to change two settings on the far right at the bottom of the screen.
    1. Place a check in the Push RFP as Invoice checkbox.
    2. Place a check in the RFP Invoices use Customer Liability Model instead of unapplied credits checkbox.
  2. Go into QuickBooks and create a Service Item called RFP-Liability or something similar. Note: Keep in mind this has to be called something different from your old RFP item. Also, this is a customer-facing item, so make sure the item is called something that makes sense to your customers.
    1. Make sure the item is set as non-taxable.
    2. The associated account should be an Other Liability account, something like “Customer Deposits.”
  3. Go to iPoint > Settings > QuickBooks > Items
    1. Click the blue Get Items from QuickBooks button – if you are prompted to get an updated list of items from QuickBooks, answer Yes.
    2. Once the synchronization is complete you will see the QuickBooks Inventory Item Sync screen. Find the RFP item you created in step #2 above.
    3. Place a check in the Select box next to the new RFP item.
    4. Click Import Selected Items from QuickBooks button.
  4. Verify the import occurred by going to your items module and finding the new RFP item. Note: When you sync a Service Item from QuickBooks into iPoint, iPoint will label that item as a Labor Item.
  5. Now go to Settings > QuickBooks > Chart of Accounts (tab)
    1. In the third column labeled Link to Items from iPoint Library, find the Request for Payment dropdown and change the value from your old RFP item to the new RFP Liability item you imported in step 3 above.
    2. You will notice that the old PMT item used in the RFP A/R process is no longer available – That is because RFP invoices are now traditional invoices and don’t need the old payment process.
  6. Finally, go back to Settings > Module Settings > Proposals > Accounting (tab) and set any other RFP options you need.

In a perfect world, you would have closed out all of your old RFP A/R jobs so that everything works as an RFP Liability job. But we all know this world isn’t necessarily perfect! The truth is, you can run both A/R and Liability jobs in iPoint simultaneously.

When you open a Sales Order, click the Options button and then choose the Advanced tab. You will notice a couple of new options available here.

  • Do Not Use RFP – check this box to use the basic line item billing method.
  • Use RFP WITHOUT Liability – this box will use the old RFP A/R process, and will be checked on any outstanding RFP A/R jobs that were still active when you switched to Liability.

It’s important to understand that any single sales order can only use one billing methodology. You are not able to combine Line Item and RFP Liability, or RFP Liability and RFP A/R, for example.

How do you remove an item that has been delivered?
Follow these steps:
  1. Open the invoice and find the delivered item you want to delete.
  2. Click the Delivered box that shows the quantity delivered. This opens a Transaction Details window.
  3. On the left side under the Product Request section, click on the red Return link
  4. Select an inventory location to return the product to.
  5. Enter the quantity of the product being returned.
  6. Click the Return button.
  7. Enter the reason for the return in the pop-up window.
  8. Returned product is now marked as “Allocated” for this job. If you want to delete the item completely, continue on.
  9. Click the red Remove button next to the allocated item you want to delete.
  10. Again, select the warehouse location where the item is physically being returned to
  11. Enter the quantity of the product being removed.
  12. Click the green Remove button.

Your product inventory has now been fully removed from the invoice. Note that this does not remove the sale line from the invoice. You’ll have to do that by clicking the trash can icon on the invoice next to the line you want to delete.

How do you handle an overpayment on an invoice?
When a customer pays more than the invoice they received, there are a couple of different ways to enter this into iPoint depending on the accounting method your company has adopted.

Standard and RFP-Liability invoices

  1. Open the Accounting module
  2. Select Payments
  3. Click the New button
  4. Enter the payment details, including customer, method, amount, date, and any other notes.
  5. Choose the invoice(s) being paid from the list by placing a checkmark in the box near the invoice date.
  6. The payment will be applied to the invoice(s). Any balance remaining of the payment will be displayed as a Payment Not Applied
  7. Click the Save or Save & Close buttons.
  8. The payment not applied will remain on the customer’s account and can be applied to future invoices.

RFP-A/R invoices
If you are using the RFP-A/R accounting method (as defined in Settings > Module Settings > Proposals > Accounting tab) then the process is a bit different because payments applied to RFP invoices are actually creating an A/R deposit against an estimate in QuickBooks on the customer’s account rather than paying off an invoice directly.

If the payment is paying multiple RFP invoices:

  1. Open the RFP invoice from the Accounting module. Note this is not the payment screen.
  2. At the bottom of the invoice, click the green New Payment/Credit button
  3. Enter the payment details. HOWEVER, only apply the amount of the payment that is not greater than the Payment Request.
  4. If the remaining balance is for other existing RFP invoices repeat steps 1-3 above. Continue doing this until the payment is completely applied to RFP invoices.
    • As a rule of thumb, if check #12345 was used for three different RFP invoices, enter the check number as 12345a on invoice #1, 12345b on invoice #2, and 12345c on invoice #3. This will help you reconcile your deposit easier in QuickBooks because you can match the check number together to equal the total actual check.

If the payment received is for an amount greater than the RFP sent to the customer

  1. Delete the original RFP invoice in iPoint and the corresponding estimate in QuickBooks.
  2. Recreate the RFP invoice in iPoint for the amount of the payment.
  3. Apply the payment to the RFP invoice using the green New Payment/Credit button at the bottom of the invoice.
  4. Alternately, you could create a second RFP invoice for the difference between the amount of the payment and the amount of the original RFP.
  5. Then follow the payment steps outlined in paying multiple RFP-A/R invoices section above.

The customer has paid for multiple RFP-A/R invoices in one payment. How do I enter that in iPoint?
One of the drawbacks of using the RFP-A/R accounting method is that you cannot automatically apply a single payment to multiple RFP-A/R invoices. So what do you do when that situation arises? You’ll enter the correct amount on each invoice manually with the total of all invoices matching the total of the payment.

Let’s look at this example.

Open Invoices

  • RFP-A/R Invoice #12345 = $4,000
  • RFP-A/R Invoice #34556 = $3,000
  • Service Invoice #77777 = $129.95

Customer payment

  • Check #888 = $7,129.95
  1. Open invoice 12345 and enter a manual payment of $4,000. In the check reference field, type 888A. (The A signifies that this is part of a bigger payment. You might also enter a comment so you’ll remember what you did later.)
  2. Now open invoice 34556 and enter a manual payment of $3,000. Reference check number 888B. (The B lets you know this is a second part of the original payment.)
  3. Finally, open service invoice 77777 and enter the manual payment of $129.95 with check number 888C.
  4. Now, when you sync the paid invoices to QuickBooks, they will all be paid and reference the correct GL accounts.
  5. When you record your bank deposit in QuickBooks, you’ll have three checks (888A, 888B, and 888C) that correspond to the single check #888. Just be sure you grab all three of those check numbers when you make your deposit.

What happens when I sync stuff to QuickBooks?

The iPoint software is, among other things, a project management tool and as such, there is limited financial reporting that takes place in the program. The majority of the reports run in iPoint deal with Project Accounting, telling you about the financial health of the jobs you run. To get a full picture of your business’ health, we rely on QuickBooks to do financial reporting.

iPoint shares customer, vendor, and item data with QuickBooks which has no impact on the financial aspects of your business. iPoint also synchronizes transactions to QuickBooks. These transactions are only a part of your financial statements. So let’s take a look at the transactions you create in iPoint and understand how they affect the QuickBooks financials.


  • Because credits and debits are sometimes confusing, we’ll tell you if this (Increases) or (Decreases) an account value in parenthesis.
  • [ We’ll state the type of account and which financial statement in brackets ]

Purchase Orders

A purchase order is a document stating that you are agreeing to pay a vendor for specific goods at a specific price. A purchase order itself has no impact on your financial statements other than an indication of an upcoming liability. The transaction authorized by a PO results in two financial transactions.

Item Receipts – This is completed on a purchase order in iPoint and increases the number of items you have in inventory. Here’s what happens in QuickBooks.

  1. Debit (Increase) Inventory [ Asset – Balance Sheet ]
  2. Credit (Increase) Accounts Payable [ Liability – Balance Sheet ]

Accounts Payable – When you buy stuff you have to pay for it! Vendors will typically send you an invoice for the goods they sold you. Those invoices are matched up with Purchase Orders to ensure that you are getting what you ordered and for the amount you agreed on. The actual payables are entered directly in QuickBooks and are matched against the Item Receipts that were synced from iPoint.


Invoices are the way you collect money from customers for the goods and services you provide. These can take on a number of different forms and each invoice type affects the financials a bit differently. So let’s take a few minutes to review what happens with each type of invoice when it is pushed to QuickBooks.

Line Item Invoice

  1. Debit (Increase) Accounts Receivable [ Asset on the Balance Sheet ]
  2. Credit (Decrease) Inventory [ Asset on the Balance Sheet ]
  3. Credit (Increase) Sales Tax Payable [ Liability on the Balance Sheet ]
  4. Debit (Increase) Cost of Goods Sold [ Income Statement (P&L) ]
  5. Credit (Increase) Income [ Income Statement (P&L) ]

Summary Invoice

  1. Debit (Increase) Accounts Receivable [ Asset on the Balance Sheet ]
  2. Credit (Increase) Sales Tax Payable [ Liability on the Balance Sheet ]
  3. Credit (Increase) Sales [ Income Statement (P&L) ]

Request for Payment – Liability

  1. Debit (Increase) Accounts Receivable [ Asset on the Balance Sheet ]
  2. Credit (Increase) Customer Deposit [ Liability on the Balance Sheet ]
    NOTE: These should only be pushed to QuickBooks once you have a payment applied. Otherwise, your Accounts Receivable can appear doubled when the related Delivery Invoices are synced.

Request for Payment – Accounts Receivable

  • RFPs push as an estimate to QuickBooks, so no financial impact occurs

RFP Delivery Invoices

  1. Debit (Increase) Accounts Receivable [ Asset on the Balance Sheet ]
  2. Credit (Decrease) Inventory [ Asset on the Balance Sheet ]
  3. Credit (Increase) Sales Tax Payable [ Liability on the Balance Sheet ]
  4. Debit (Increase) COGS [ Income Statement (P&L) ]
  5. Credit (Increase) Income [ Income Statement (P&L) ]
  6. Credit (Increase Expense (Labor) [ Income Statement (P&L) ]


Making money is why you are in business, right? And payments are how we recognize that transfer of money from customers to your bank account. You will take all your payments directly in iPoint and apply them to the various invoices you’ve created. Then all of that information syncs over to QuickBooks and where it impacts the financials of your company.

On very rare occasions, you might receive payments directly in QuickBooks instead of in iPoint. But those payments can be synced back into iPoint so your records are all intact.

How do iPoint transactions impact QuickBooks financials?
Financial Statements

For the most part, every transaction you sync from iPoint to QuickBooks deals with either inventory or accounts receivable. Obviously, if you are taking payments from customers, you can also directly affect the cash accounts. Transactional entries are typically found on the Balance Sheet and that is where you will find all the things iPoint syncs to QuickBooks.

At the end of the day these transactions also affect the Income Statement, often called the Profit & Loss Statement, by taking the cash left over after collecting payments from customers and deducting vendor expenses and costs.

As an overview, there are three primary reports most people look at to determine the financial health of a company.

  • Balance Sheet – This is the report you run that shows the value of your assets (cash, buildings, equipment, inventory), liabilities (the obligations you have to your employees, vendors, and lenders), and equity (the difference between what you own and what you owe.)
  • Income Statement – Also referred to as the Profit and Loss Statement, this report shows how much money your company is making.
  • Cash Flow Statement – This shows the flow of cash, duh!. We’re talking about the cash used for operations, investing, and financing your business.

It is important to understand that many of your financial statement transactions DO NOT occur in iPoint. Payables, payroll, many expenses, and business charges are entered directly into QuickBooks. (For example, there is no place in iPoint to enter bank interest or rental income.)

The best way to reconcile iPoint to QuickBooks is:

  1. In iPoint run the Invoice Summary report (found in Reports > Invoices > Invoice Summary)
    1. If you are using the RFP accounting method, be sure to filter your report to only include Standard & Delivery invoices.
  2. In QuickBooks run the Profit & Loss Detail report
  3. Make sure the two reports cover the same time period.
  4. These two reports should match. If they don’t, see the troubleshooting section below.
    NOTE: If your company has income that is entered directly into QuickBooks (like rental property income, bank interest, or advertising revenue), these two reports won’t match.

Income Reconciliation Troubleshooting

Oh No! Your QuickBooks Profit & Loss Detail report (the income section) and your iPoint Invoice Summary report don’t match! How do you find the errors?

  1. Make sure the date range on both reports is the same.
  2. Make sure that all invoices and delivery invoices during the date range have been synced from iPoint to QuickBooks.
  3. Verify if there is any non-job related income that was entered into QuickBooks. If so, deduct that amount from the QuickBooks P&L Detail.
  4. If the time period is still out of balance, shorten the date range and repeats steps 1-3 above. For example, if you were comparing the year’s transactions, try comparing each month. Many times you can find one specific month that is incorrect.
  5. Once you find the month with the error, try rerunning the reports for a week at a time and keep narrowing the date range until you find the specific day(s) with errors.
  6. Now compare each transaction on each report until you find what is different.

How do you process finance charges deducted by a finance company?
Accounting Finance FeesAccounting Finance Fees

If you use a financing company that pays you directly for purchases made by your customer, chances are they will short pay the invoice, withholding the finance charges. How do you deal with that in iPoint?

Finance charges are an expense, and as such we don’t enter them in iPoint, because all payables are entered in QuickBooks. So here is the process.

  1. Sell the customer a $1,000 widget.
  2. Finance company pays $970 (withholding $30 finance charges)
  3. Enter the full payment in iPoint against the customer’s invoice in iPoint
  4. Sync the payment to Quickbooks
  5. In QuickBooks, create a deposit using the $1,000 payment that came from iPoint
  6. Manually add a second line to the deposit
    1. Received From: Your customer’s name
    2. From Account: pick an Expense account, probably “Finance Charge Expense”
    3. Amount: Enter the finance charge as a negative amount
  7. Your deposit will now reflect $970 – the amount the finance company paid you.
  8. Your Finance Charge Expense account will track all the finance charges you incur.

Why should I wait for the payment to be received before pushing RFP Liability invoices to QuickBooks?
Show Me The Money!

A Request for Payment is not an invoice!

Wait! What!?!?!?

The dictionary defines an invoice as, “a list of goods sent or services provided, with a statement of the sum due for these; a bill.” An RFP does not define goods or services that the customer has purchased. Instead, it is a request for the customer to send us money, usually for a specific phase or portion of the job.

Unfortunately, however, QuickBooks doesn’t understand this process, so a Liability RFP looks like an invoice to QuickBooks. When you push an RFP Liability request, QB does two things.

  1. It creates an invoice stating that your customer owes you money (which is kinda right).
  2. It dumps the money into your liability account, even though you haven’t yet received the cash, (and that ain’t right)!

So, by waiting to push your payment request to QuickBooks until you have received the payment, you won’t be overstating A/R and you won’t be dumping a deposit into your Customer Deposit Liability before you have cash in hand. iPoint has been designed to help with this process in that we won’t let you push the RFP Liability invoice into QB until you have cash in hand. Yes, there is a way for you to override that, but why would you want to? After all, we accountants want accurate details, right?!?!

When should delivery invoices be generated?

First, it is helpful to understand exactly what a delivery invoice does. Pushing a delivery invoice to QuickBooks
  • Adjusts inventory
  • Recognizes revenue
  • Relieves (uses) customer deposits
  • Calculates sales tax liability

So the answer to the question becomes, “How often do you want your financial statements to reflect the business you conduct?” At a bare minimum, you should process delivery invoices as frequently as you have to pay sales tax. If you are a monthly taxpayer, you should process monthly delivery invoices for all sales orders. If you only pay quarterly sales tax, you can process your delivery invoices on a quarterly basis. But, as we stated, this is the bare minimum.

Adjusting inventory, recognizing revenue, and relieving customer deposits affect the financial statements of your company. So to have more accurate statements, you will likely want these details entered on a more frequent basis. And these adjustments may differ based on the quantity of business your company generates.

iPoint best practice is to create delivery invoices once a week. Friday afternoon is a great time. That way you capture all of the work that has been completed during the week. Make it part of your weekly routine. Or maybe, you’d rather process delivery invoices first thing Monday morning so that you capture work your staff did over the weekend. Either way, make a regularly scheduled time to generate delivery invoices for all your sales orders.

And we’ve made it easy for you by creating a button to generate all delivery invoices for all sales orders where product has been delivered.

What is the best way to issue a refund when using RFP billing?
Job is done and paid! You got everything closed out and now it’s time to move onto the next…

But WAIT! Your customer wants to return that last wing-a-ding and get a refund for it. What is the best way to issue this refund inside iPoint when using RFP billing?

What situation might cause iPoint to create a negative RFP?

Typically, a negative RFP balance is not ideal. About the only instance you’ll see iPoint create a negative RFP is for a change order to remove product or labor from the original sales order. The total of the change order is a credit back to the customer, resulting in a negative change order.

Using RFP-Liability

1. Create the negative RFP. iPoint will prompt to turn it into a credit memo
2. Push the Credit memo to QB
3. Option 1: CM is giving a a refund from iPoint (meaning that the payment was taken through a iPoint feature and the CM wants to refund the whole amount)

  • Navigate to the payment and click the Refund CC option.
  • This will zero out the payment and make a balance on the invoice
  • Sync the payment.
  • Go to the invoice and apply the credit from the Credit memo
  • This will zero out the balance of the invoice
  • Sync the invoice and the Credit memo

4. Option 2: CM is giving a partial refund from an iPoint payment or they are refunding a payment not taken through an iPoint feature (partial or full)
* Follow refund process for Quickbooks Online or Quickbooks Desktop explained here.

Using RFP-AR

Requests for Payment cannot be a negative balance amount.

  • This is because QuickBooks cannot accept a “negative estimate.” Remember all RFP invoices push to QuickBooks as an estimate.
    And, an RFP invoice cannot become a credit memo.
  • The reality is that iPoint will let you create a negative RFP but, when you try to sync it to QB, you will notice that the green dot is displayed indicating that the RFP has already been synced (even though it hasn’t).
  • Click on the QuickBooks button to sync anyway and you will find that the Push Payment Request button is missing completely.

How do you fix this? How can you send your customer a negative change order?

  • The simplest solution is to include multiple billing lines, the negative change order as well as another progress payment or change order. Just be sure the resulting RFP total is a positive number. you need to combine the negative RFP with positive RFPs.
  • If the negative RFP is the last and final RFP on the job, then offset it with a positive charge item on the RFP invoice to get the results to $0. Then in Quickbooks issue a refund to the customer for the balance on their account.

What is the best module to invoice from?

Invoicing > Best Practice > DashboardInvoicing > Best Practice > Dashboard

We often get the question, “Where is the best place to invoice from?” The best practice for invoicing is to always invoice from the highest “level” in iPoint. Meaning, from left to right in the iPoint Dashboard. Invoicing properly from the proper module will provide the most accurate tracking methods, along with providing the proper information summary reports for the customer.

Sales Order > Billing TabSales Order > Billing Tab

Sales Order

If the job is part of a Sales Order, you should ALWAYS invoice from the sales order. There are many different accounting methods that can be applied to Sales Orders, that cannot be used in other areas of iPoint. For more information on invoicing from a Sales Order, Click Here.

Project DetailsProject Details


If there is no Sales Order, for instance, a Service Project, or a Time and Materials Job, you should invoice from the Project Details Page. For more information on invoicing from a Project, Click Here.

Work Order > InvoicingWork Order > Invoicing

Work Order

If there is no Sales Order OR Project, you can invoice directly from a Work Order. This should be rare and only used for one day, or very simple jobs that will not be completed over several Work Orders. Best Practice is to have every Work Order associated with a Project, however, there are exceptions you may have. For more information on Invoicing from a Work Order, Click Here.

Dashboard > InvoicesDashboard > Invoices

Invoice Directly

If there is no Sales Order, Project or Work Order, you can simply create an Invoice from the Invoices Module. This is typically ONLY used in Point-of-Sale transactions. If you have a retail storefront and sell products directly to customers, you will use this process. For more information on Invoicing, Click Here

Can I use a double-window envelope for my invoices?
seeing double

Are you wasting money on return address labels or time on addressing envelopes by hand? Did you know you can set up your invoices to print so they can be used with double-window envelopes? You can!

To change the invoice settings to the double-window template, go to:

  1. Settings module
  2. Module Settings
  3. Invoices tab
  4. Under Invoice Envelope Selection, click the Double Window radial button

double window settingDouble-Window Invoice Setting

Now when you print an invoice, your business return address will be located in the upper-left corner, allowing both the return address and mailing address to line up with the windows of a standard double-window envelope.

double window settingInvoice with Double-Window Invoice Setting

In single-window invoice setting, which is the default setting, your company address is located in the top-center of the invoice and your logo is located in the upper-left corner.

single window invoice setting exampleInvoice with Single-Window Invoice Setting

Last modified: 1 Sep 2020

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