Almost all of my invoice payments are sent to a digital wallet, WISE, similar to paypal. How do I go about "receive payment" in QBs?

Hi dimitris-lpgroup.

Entering your invoice payments in QuickBooks Online is a great way to track what invoices have been paid and which have not. I'd be happy to help you with properly recording your invoice payments.

In order to record your payments against an invoice I recommend watching this tutorial video on how it's done in QuickBooks Online. Once the payment is received towards the correct invoice in full it'll show as closed going forward. 

If you have any questions let us know and we'd be happy to help.

Hi Nick,

I've gone through that tutorial. In this case, what I'm asking is would I treat WISE (the digital wallet that is receiving payments) as another bank? Something I could create in my chart of accounts.

Then, once I receive payment, I would click on Deposit to -> WISE (account I created in chart of accounts)?

Thanks,

Dimitri

Hi again dimitris-lpgroup.

If Wise is the same as PayPal you can treat it the same when importing transactions and syncing it. I recommend reaching out to your accountant on if you should create a new account for this in your Chart of Accounts If you don't have one you can find one in your area by going to: My Accountant>Find a pro to help. You can follow these steps on how to sync your bank to QuickBooks Online:

1. Go to Bookkeeping and select Transactions.
2. Select Banking (Take me there) and select Connect account.
3. Select your bank and sign in to your account.

I recommend using the URL address when searching to link the two together or you can just manually upload the transactions by following this article. 

Once that's done you can receive payments to the new account if you were advised to make one. 

If you have any questions let us know and we'd be happy to help.