Know How to record a customer payment in QuickBooks with the help of QuickBooks support

How to record a customer payment in QuickBooks

With the help of this article, the QuickBooks support team will guide you how you can record payments in QuickBooks. QuickBooks Online lets you record the advance payment made by your customer for any product or service supplied.

Note: payment can only be recorded once an invoice is issued to the customer. If an invoice is not issued you can enter a sales receipt or a deposit instead of recording a payment.

To create sales receipt:

Go to the toolbar and select sales receipt by clicking on the plus icon (+).

To create deposits:

Go to the toolbar and select bank deposit by clicking on the plus icon (+).

How to Record the invoice payment?

To generate accurate Income and Receivable reporting of a paid invoice you can record the invoice payment. Follow the steps given below to record an invoice payment:

  1. Go to the toolbar and select receive payment by clicking on the plus icon (+).
  2. From the drop-down menu select customer name.
  3. Choose the transaction to be calculated From the Outstanding Transactions section. There will be a change in the payment total once the items are selected.
  4. Choose the method of payment.
  5. A user needs to put the applicable Reference no. and Memo.
  6. The money can either be deposited to your checking account or to the undeposited funds’ account.
  7. Click on Save and Close. This will record your invoice payment.

How to make Group payments deposited in the Undeposited Funds account?

The Undeposited Funds account is a “temporary holding” account for funds which are to be deposited in the future. If undeposited funds account is chosen to deposit the payment, follow the steps given below to group the payments to be shown as one deposit on the register.

  1. Go to the toolbar and select bank deposit by clicking on the plus icon (+).
  2. Mark all payments to be grouped together from the select payment option with a check.
  3. Ensure the accuracy of the total amount shown.
  4. Click on Save and Close.

If one of your bank accounts is chosen, the payments will be deposited automatically to the specified bank account.

 How to record partial payments?

Payment should be recorded even if the partial amount of the invoice is paid. A track of the invoice’s open balance will also be created in your QuickBooks. Follow the steps given below to record partial payments:

  1. Open the invoice for which the payment is made.
  2. Observe the Balance Due line.
  3. Click on Reports from the left menu that appears.
  4. Enter customer details In the Find report by name field to get the required report.
  5. Click on Run report.

Note: you cannot change the order in which the money is applied to the invoice by QuickBooks. QuickBooks online applies for the money in the first line and continues until the payment of the invoice has been used.

How to Record joint payments in QuickBooks?

In case, the customer pays an invoice with that of another customer, you can receive the payment in the following manner:

  1. Go to the toolbar and select receive payment by clicking on the plus icon (+).
  2. Enter the customer name.
  3. Enter the required Amount, Payment method, and the Reference no in the respective fields.
  4. Fill the Memo field with other customer’s name to show that this payment is included in the check with another customer.
  5. Ensure that the invoice is correct and checked. Manually uncheck and check the correct one, if necessary.
  6. The money can either be deposited to your checking account or to the undeposited funds’ account.
  7. Click on Save and Close.

Repeat the same steps for another customer. Ensure that your check number is correct and you enter a descriptive memo. The Next step is to; group the payments to be shown as one deposit on the register:

  1. Go to the toolbar and select bank deposit by clicking on the plus icon (+).
  2. Mark, all the payments to be grouped together with the check From the Select payments included in this deposit section.
  3. Ensure the accuracy of the total amount that appears. The amount should be the total amount of the joint check.
  4. Click on Save and Close.

In this way, you can record customer payment. If you face any trouble while creating the record or if you have any queries related to payments, you can contact QuickBooks technical support team @ 1(877) 227 2303.

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