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 refund from iPoint (meaning that the payment was taken through an 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, and 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, 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.