Receive and Categorize an Invoice Payment in QuickBooks Online

This blog will help you to resolve this issue with all the required information. To know “how to receive and categorize invoice payments in QuickBooks online“, users need to perform the below instructions.

QuickBooks introduces many new and improved features to reduce all account complexities and handle your accountancy management with more accuracy. Most users need to know how to receive and categorize invoice payments in QuickBooks Online.

How to Save the Record of all Transactions

The first thing users have to know is how to save the record of all transactions in QuickBooks Online

  • If you find your customer paid for the service or for any product, make sure you give them a sales receipt
  • In any case, if your clients/customers have plans to pay in the future and then send them invoices
    • Once customer paid their all invoices, then there is just one step to record and categorize all payments
    • Users just need to go with steps in which they get instructions on how users got all payments. If your customer use utilizes an outside payment method like PayPal or Square then there is no issue
    • Once your clients/customers are done with the payment process and then categorized into the right account.

How to Record and Categorize Invoice Payment

After receiving Payments, the user needs to know about how to record an invoice payment with the following steps.

  • Hit your click on the “Select + New” option simultaneously
  • Then choose the “Receive Payment” option
  • After that, the user needs to choose the customer name from the available options
  • Go to the “Outstanding Transactions” field; choose the “Transaction” option you would like to choose for the calculation of QuickBooks online. As per your according, select those specific items, and the total payment changes
  • Click on the “Payment method” as per the needed
  • Fill in the reference number and Memo if it is necessary
  • There are two options available either you can deposit the cash to a checking account or to just un-deposited funds
  • Then click on Save and close.

How to Run Group Payments together into a Single Record

If you want to make group multiple payments together just because you deposited certain payments do it with checks at banks but all at once, and then use the Un-deposited Funds account. The user must know that he/she uses only if all bank records merge with multiple payments shown as a single record.

How to Record the Partial Payments?

The user has an option to record only that part of the payment which is owned and keep navigation mode on to track an invoice’s open balance. To record the partial payments, the user needs to follow the below steps

  • Enter your click on the “Select + New” option at once
  • Next click on the “Receive Payment” option
  • From the drop menu, choose the customer name and select the “Payment Method”
  • Fill in all required information such as reference numbers. Enter the Memo section if it is applicable
  • Enter the “Amount Received” section and choose the “Amount of the payment” option
  • Hit your enter on the “Outstanding Transactions” option and select that particular payment, you need to apply for the payment
  • User can deposit money with a checking account option or also has an option to choose an undeposited funds account
  • Then click on save and close and you are done with this process

How to View the Remaining Balance?

  • Firstly, the user needs to re-open an invoice
  • Then the “Balance Due Line” option will appear on your screen
  • Then, drop your click on the “Reports”
  • After that, go to the “Find Report by name” section and enter Customer Balance Details as per what they asked
  • And choose “Run Report” and you are all done with this process.

The above information is enough to know about how the user can easily receive and categorize invoice payments but still if any query confuses you, without any second thought. QuickBooks Consultant team is always welcome to help its customers with 24-hour active service.