Purpose

When a credit balance is on the accounting system's Accounts Receivable Aging for a customer, the credit balance needs to be added to Aspire, so it can be applied to an invoice when it is created in Aspire.

⚠️ Without taking these actions, there could be credit balances in Quickbooks on customer accounts that are not reflected in your Aspire system depending on how you report your refunds.


Table of Contents


In Aspire

  • Create a payment to the Opportunity or Property that has the credit balance in the accounting system.

    • A credit balance will now be available on the customer/property to apply to an invoice when it is created.

  • Send that deposit to your accounting system.


In Accounting System (QuickBooks Desktop)

  • Delete deposit sent from Aspire

  • Create a new account in accounting called ‘Credit from Accounting System’ as a liability account.

  • Create 2 journal entries in Accounting System:

    • Debit - Accounts Receivable (add customer in ‘Name’ field)

    • Credit – New account ‘Credit from Accounting System’

    • Debit – New account ‘Credit from Accounting System’

    • Credit – Accounts Receivable (add Aspire System in ‘Name’ field)

📌 Note: If you’d prefer to skip the second transaction that debits your new liability account and credits the AR account, that is an option. This will be made up with the reconciliations at the end of the month (only if you follow the steps in the EOM checklist).


In Accounting System (QuickBooks Online)

  • Delete payment in undeposited funds sent from Aspire

  • Create a journal entry in the Accounting System:

    • Debit - Accounts Receivable (add customer in ‘Name’ field)

    • Credit – Accounts Receivable (add Aspire System in ‘Name’ field)

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