QB Issue Resolution:

Based on what you’ve shared, I have two options to fix your problem. First, you can edit the invoice paid in January so that it will show the customer has an existing credit.

 

I’ll guide you how:

  1. Go to Sales tab.
  2. Click Customers and select the name of the customer.
  3. Choose the invoice for January.
  4. On the Actions drop-down arrow, click View/Edit.
  5. Enter the correct amount of the invoice.

When done, invoice will show the balance due and the amount of payment at the upper right part of the page. Also, you can enter it manually by adjusting the February invoice amount.

 

Here’s how:

  1. Go to the Sales tab.
  2. Select Customers and click the name of the customer.
  3. Open the invoice for February.
  4. On the Amount column, enter the over payment amount.
  5. On the Message on invoice box, enter a note that the adjustment was made because of an overstated amount last January.

I’ve also added an article for your future reference: Enter and apply credit memos and delayed credits in QuickBooks Online.

 

Resolution for Issue 'Thank you for taking time to consider my scenario. I have searched the forum for a similar problem since im sure its not uncommon but haven’t found the needed solution. I am a consultant and bill my customer monthly for hours worked. My January invoice was sent and paid as well as February invoice sent before a mistake in the January hours was noticed. My customer plans to reduce payment on my February invoice to offset the overstated hours in the January invoice. How is the best way to record the correction to January invoice amount and have the reduced payment in February satisfy the invoiced amount? Does this require two extra entries? One against both invoices? Thank you!' available: Yes (Solved).
Source: Intuit Community forum.

Thank you for taking time to consider my scenario. I have searched the forum for a similar problem since im sure its not uncommon but haven’t found the needed solution. I am a consultant and bill my customer monthly for hours worked. My January invoice was sent and paid as well as February invoice sent before a mistake in the January hours was noticed. My customer plans to reduce payment on my February invoice to offset the overstated hours in the January invoice. How is the best way to record the correction to January invoice amount and have the reduced payment in February satisfy the invoiced amount? Does this require two extra entries? One against both invoices? Thank you!: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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