QuickBooks: Apply Payments to Invoice the easy way. Step by step guide.


QuickBooks: Apply Payment to Invoice

Unmatched payments can cause multiple errors in accounting reports which QuickBooks users rely a lot on. Legal problems can be encountered due to unmatched payments. Here’s an article to help you to avoid such a fatal mistake.

In order to proceed with matching payments to invoices, it is important to first create an invoice. If you have a previously created invoice then you can skip these steps.

  1. Go to Invoice under Create (+)
  2. Create the invoice by writing in the customer name, selecting the date for invoice and entering the billing address. Users can edit the Product/ Service along with their rates from the invoice window.
  3. Save the invoice.

Follow these steps to apply payments to specific invoices:

  1. Click on the invoice,
  2. Click on the Receive Payment This you can find on the upper right hand side of your display screen.
  3. There will be a section for Credit. Under it choose the option where it says unapplied payments.
  4. Click Save

For applying payments at the time of transaction simply link the invoice at the time you are recording the payment. This will help with better organization of data. In case your payments do not match, you will always encounter discrepancies in reports created in QB. Payments can be analyzed through myriad reports one of which is Accounts Payable report. Make sure to send payments to Accounts Payable only after applying them on an invoice. Once this process is completed, you will be able to generate an AR report easily.

Hope you were able to resolve your query related to “How to apply payments to invoice within Quickbooks”. If you have any further issues you might have, you can get support at Qbpro. To talk to our Quickbooks proadvisors you can call our toll free helpline number.