How to Record and Receive Customer Payments in QuickBooks

Recording the payments of the customers is one of the most important accounting tasks. Based on the situation, you can […]

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Recording the payments of the customers is one of the most important accounting tasks. Based on the situation, you can select from different ways to do it, with the help do QuickBooks online. A sales receipt is the best place to begin.

Once you invoice a client and record the particular transaction in QuickBooks, it stays as an open or an unpaid invoice.

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Steps to Record and Receive Customer Payments in QuickBooks

In order to record and receive a customer payment in QuickBooks, you need to follow the steps given below:

Step 1: Go to the Home page and in the Customers panel, select Receive payments and click it.

Step 2: In the particular Receive Payments dialog box, from the displayed Received From the drop-down, choose the customer who sent the payment.

Step 3: In the Amount section, enter the particular amount.

Step 4: In the given Date field section, search for the payment date and type it.

Step 5: Now, in the Payment Method drop-down list, choose the payment form.

Step 6: All the next fields rely on the payment type you got. Fill it as has been asked.

Step 7: In the Memo option, enter any note you require to record the particular payment. Like, late.

Step 8: Make sure that the payment is linked with the right open invoice. QuickBooks then auto-applies payment that has been received. A checkmark pops up next to the invoice chosen for payment. Select the checkmark and click it in order to deselect an invoice. Select the empty box beside an invoice to choose it.

Step 9: Select Save and Close.

Recording Partial Payment for a Particular Invoice

Step 1: The first step is to choose the +new button and then choose Receive Payment.

Step 2: Now, choose the customer name from the particular Customer drop-down menu.

Step 3: Choose the amount that has been given as a payment from the Deposit drop-down menu.

Step 4: Choose the checkbox from the particular invoice to record your payment.

Step 5: Add the amount, which has been paid by the customer in the particular Amount Received section.

Step 6: Finally, click the Save and Close option.

Recording Payment only for a Single Invoice

Here are the steps to record payment only for a single invoice

Step 1: The first step is to choose the New Button and click it, and then click Receive Payment.

Step 2: Now select the customer name from the particular Customer drop-down.

Step 3: Now, select the payment manner from the given Payment Method Dropdown.

Step 4: Select the account where you kept the payment from the given Deposit dropdown.

Step 5: Choose the checkbox for the particular invoice for which you have to record the payment from the Outstanding Transaction option.

Step 6: Once it is done, add the Reference number along with the Memo if needed.

Step 7: Finally, hit the Save and Close button.

In this article, we have given step-by-step information related to record and receiving customer payments in QuickBooks.

If you are new to QuickBooks, this may seem difficult for you. However, it is best recommended to hire the services of a professional.

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What are the Different ways to Record Transactions in QuickBooks Online?

Here are some of the ways to record transactions:

During the time of sale, when a customer has paid for a particular product or service, it is on you to provide them the receipts to authenticate the purchase.
If the customer is not paid right away or if the customer intends to pay in the coming days then you must send them the concerned invoice.

What are the Problems that come up When the Payments are not Registered into QuickBooks Online?

There are some popular problems that usually come up when some payments are not registered in the QuickBooks in the right manner, such as:

The amount which the customers owe will be wrong if the payments are applied in the wrong way.
If the payments are not linked with the right invoice, the invoice will display an outstanding, although the customer has already paid for it.
Payments have been received; however, they are recorded as deposits in the wrong manner. Sales receipts are registered as income.

How can I be sure that the Payments are Registered in the Right Manner?

When recording the process is over, then, in order to make sure that the payments are recorded in the right manner, search for open invoices. When you get a payment from any customer, then authenticate to check whether the particular customer is having an open invoice or not. In case it is, then record the payment received. If the customer lacks any open invoice, recording the particular payment of the sales receipt is important.

Note: Sales receipts can be used only while receiving payments, and for that payment, invoice has not been generated.

How to Review the Undeposited Funds Accounts in QuickBooks?

In order to clear out the payment that has been on the list to get deposited, it is recommended to review the undeposited funds account.

Here are the steps to do it:

Step 1: Navigate to the Accounting menu and choose the Chart of Accounts.

Step 2: Look for Undeposited funds account on the list that is displayed.

Step 3: Choose the Account history. Now review the undeposited funds account in QuickBooks Online.

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Supported Entities/Lists

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Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

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Bill Payment
Purchase Order
Item Receipt
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Banking Transactions

Check
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Transfer Funds
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Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

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Employee Payroll
Wage Items

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Vehicle Mileage

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

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How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

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To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

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Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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