How To Receive Payments to Invoices and Deposit to Bank from Undeposited Funds Account.
Click New then Receive Payment
Below you will see the Receive Payment Screen
Select your Customer by Name or find by the Invoice Number
4. Enter the Amount Received, if a partial payment is received enter the partial amount
5. Once you enter the amount of the Payment Received QuickBooks will automatically Select the Open Invoice.
6. Be sure the Deposit to Account selected is Undeposited Funds.
7. Click Save and Close
Next you need to Create the Deposit from the Undeposited Funds Account to your Bank Account
Click New - Bank Deposit
2. Enter Date Money was Received
3. Make sure the Account Selected at the top is to the Checking or Savings Account you want to deposit to
4. Select the $85 Payment you just created in the Receive Payments Screen
5. Click Save and Close
6. That's it! You can now see your Received Payment Deposited to your Checking Account.
Tip #1 - When Receiving Payments in the Bank Feed don't match the Invoice to the Downloaded Payment
QuickBooks Online is ALL ABOUT WORKFLOWS and the ORDER THEY ARE DONE.
When a Payment is downloaded in the Bank Screen QuickBooks Online uses AI (Artificial Intelligence) Technology that automatically finds a match for the downloaded transactions.
In order for your downloaded payment to correctly get applied to the Open Invoice, you HAVE TO Receive Payment First! THIS IS A MUST!
Next... Before you return to the Bank Screen CREATE YOUR BANK DEPOSIT.
Now navigate back to your Banking Screen and you will see QuickBooks Online has a Match to your Deposit Created
CHECK OUT NEXT BLOG ON HOW TO CORRECT PAYMENTS RECEIVED TO THE WRONG INVOICE!