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jf18
Level 1

How can I switch the status of an invoice that has been paid from "Viewed" to "Deposited" manually?

 
1 Comment 1
LauraAB
QuickBooks Team

How can I switch the status of an invoice that has been paid from "Viewed" to "Deposited" manually?

Hello jf18,

 

The invoice Status column on the Invoices tab in QuickBooks Online's Sales section is a useful tool for keeping track of what invoices have been sent to and seen by your customers, as well as which invoices have been paid and had the funds deposited. I'll help you work through these options so you can register the payment received by the customer as deposited.

 

Since the invoice is currently on the Viewed status, that means that a payment hasn't yet been recorded in the books. To record the payment, you can select Receive payment right from the Invoices tab, or select the +New button in the left menu and choose Receive payment.

 

When you're entering the received payment, here's an important thing to keep in mind: where that payment is being received to. On the Receive Payment window, you'll notice a Deposit to field. QuickBooks might default this to the Undeposited Funds account, but you can change it to whatever bank account you need. By choosing a bank account, you'll be able to register both the payment and the deposit in one step. If you choose the Undeposited Funds account, the Status column on the invoice will read Paid, and an extra step is needed to get the funds to where you want them to be.

 

When you've allocated funds to the Undeposited Funds account, here's how you can deposit the funds to the account you'd like afterward.

  1. Select the +New button in the left menu.
  2. Choose Bank deposit.
  3. Choose the Account for where you want the funds to go.
  4. Select the funds you'd like to deposit there.
  5. Click Save and close.

It might seem like the Undeposited Funds account is an unnecessary option that only creates extra steps, but there are specific reasons you might want to use this kind of account. Check out the following article to learn more about it and why you might use it: What’s the Undeposited Funds account?

 

Whether you're depositing to the bank account right away from the Receive Payment window or using the Undeposited Funds method, once the funds have been allocated to a bank account, the invoice Status column will show Deposited.

 

For your reference, here's our article about recording invoice payments: Record invoice payments in QuickBooks Online

 

Give me a shout if you have further questions.

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