Connect with us

Hi, what are you looking for?

FIN -TECH

How To Receive Payments in QuickBooks Online

how to receive payments in quickBooks online

Disclosure: Sportshubnet is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn More.

In this post, we will check out how to receive payments(Credit Card & Invoice) in Quickbooks online.

QuickBooks is a popular accounting software that can be used to keep track of your business’s income and expenses.

Receiving credit card and invoicing payments through QuickBooks can be done in different ways depending on your company’s requirements.

If you own a business, most likely you have used QuickBooks for accounting. One of the most important things companies tackle in their day-to-day operation, is the problem of receiving money.

In this blog post, I’ll tell you how to receive money and pay particular attention to this stage, which can be an obstacle for many businesses.

In this article, we will show you how to receive payments in QuickBooks online. We’ll explain the different options available, as well as share a few tips which can help you with any problems you might encounter. So now without further delay, let’s go ahead and check out how to receive payments(Credit Card & invoice) in Quickbooks online.

How To Receive Payments in QuickBooks Online

Why Receiving Payments in QuickBooks Online Is Important

Receiving payments is an important part of the business world. It’s not just customers who are important, but also vendors and other businesses that you deal with.

If you’re receiving payments through QuickBooks Online, it makes your life easier because it allows you to track all of your payments easily.

If you want to make sure that you receive all of your payments, then QuickBooks Online is a great tool for doing this.

You can see all of the transactions that are coming in and what they are for so you know exactly what needs to be done next.

Receiving payments in QuickBooks Online is an essential part of running your business. Whether you’re processing payroll, accepting credit card payments, or collecting checks, receiving payments in QuickBooks Online can help you improve your cash flow and save time. Here’s why:

Payroll, Inventory and Receive Payments

If you’re using QuickBooks to process payroll or inventory transactions, it’s important that you receive payments from customers as quickly as possible so that those transactions are recorded in your customer accounts.

If a customer pays you with a check or credit card and then doesn’t follow through on their payment, it could result in the loss of revenue for your business.

Credit Card Processing

If you accept credit cards as a form of payment for your products or services, taking payments electronically is critical to making sure that customers are getting what they pay for and that they don’t spend more than they intended to spend.

QuickBooks can help keep track of all the information related to each transaction — such as how much was spent and when it was purchased — so that you know immediately if something isn’t adding up correctly.

Receiving payments in QuickBooks Online is a critical function. It helps you manage your cash flow, keep track of scheduled payments and generate accounting reports.

Here Are The Steps To Follow To Receive Payments In QuickBooks Online

Steps to follow to receive payments in QuickBooks Online:-

  1. Log into the QuickBooks Online Receive Payment Screen

    Click the +New button at the top of the left menu bar to open the Receive Payment screen, and then select Customers’ in the first column, and finally select Receive payment.

  2. Start finding the Open Invoice

    It is required to apply the payment received to the right customer invoice. To locate the proper invoice, choose the customer in the top-right corner of the receive payment screen.

    Each of the invoices with an outstanding amount for that customer will then see in the Outstanding Transactions section:
    Customer: Choose the customer from which you received a payment.

    Payment date: Input the date you got the payment.

    Payment method: Choose either Check or Cash as the norm of payment.

    Reference no: Cite the check number or leave it blank if cash was accepted.

    Deposit to: If this is the single check to be deposited, you can select the applicable bank account. But, if this check will be connected with other checks or cash, then you must record the payment received in Undeposited Funds.

    The amount received: Enter the amount of the cash or check received.

    Invoice detail: The invoice detail will automatically seem for all outstanding invoices once a customer is selected in field A. Many invoices will seem if a customer has more than one outstanding invoice.

    Payment: Insert the portion of the amount got in the F column to apply to all invoices listed in the G column. This will normally populate automatically but can be modified as long as the total payments are applied fairly to the entire amount received.
    When you are happy with your payment details, click the green Save and close button to record the transaction.

  3. Verify the Payment was Accurately Applied

    From the left menu bar, click over Sales and then select Customers. Now locate the customer for which you recorded payment and tap on their name.

    QuickBooks Online immediately shows a checklist of recent transactions for this customer. We suggest checking two items:
    An invoice marked Paid: Check that the invoice for which payment was received is now listed as “Paid”.
    The payment listed: Check that the payment recorded is recorded as “Closed.” If payment is listed as “Open,” it has not been applied to an invoice properly.

Conclusion

You’ve just discovered how to receive payments in QuickBooks Online. So just followed the above-mentioned steps and quickly receive payments on outstanding customer invoices.

Subscribe to NewsletterBe the first to get premium and exclusive content straight to your email box!

Inbox looking a bit bland?

Better sign up to our blog to cram it full of trending Sports, Gaming & Tech updates.

Written By

A geek, who just loves to update sports, gaming, and tech updates from around the world to the other geeks out there. A passionate sports lover, a tech geek from the mind, and a gamer from the heart. Be here.....you will not go anywhere... That's how we create content for you!

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Advertisement

Advertisement

Advertisement

Advertisement

You May Also Like

Feeling Lucky?

Enter your name & email address to spin the wheel for a chance to win exciting offers.

Translate »