We have received a payment that has nothing to do with us(not a customer no invoice issued). It is of course showing in our bankfeed. Will be returning how to handle ?

To effectively handle a payment that isn't linked to any specific invoices or customers, I recommend setting up a clearing account, @Flex1. I'll provide straightforward steps to help maintain the accuracy of your financial records while keeping your income and expense accounts intact.

In QuickBooks Online (QBO), a clearing account is utilized for transferring funds between accounts when direct transfers are not an option. This account usually maintains a zero balance because the amount you withdraw is equal to the amount you deposit.

Here’s how you can handle the erroneous payment using a clearing account in QuickBooks Online:

The first step is to set up a Clearing Account.

1. Log in to QuickBooks Online Account.
2. Go to Settings, then select Chart of Accounts.
3. Click on New to create a new account.
4. For the Account Type, select Bank.
5. For the Detail Type, choose Cash on hand.
6. Name the Account Clearing Account and save it.
    

    

The second step is to record the erroneous payment to the Clearing Account.

1. Go to + New.
2. Choose Bank Deposit.
3. In the Account field at the top, select the Clearing Account.
4. Record the details of the erroneous payment including the date it was deposited and the amount.
5. Click Save and close.
    

The last step is to transfer the payment from the Clearing Account.

1. Go back to + New.
2. Choose Transfer.
3. For the Transfer Funds From field, select the bank account that originally received the erroneous payment.
4. For the Transfer Funds To field, select Clearing Account.
5. Enter the exact amount of the erroneous payment.
6. Click Save and close. 

If you want to to refund the payment using the Clearing Account, here's how:

1. Navigate to + New and choose Expense, Check, or whatever form you typically use to send money.
2. Select Clearing Account as the payment account.
3. Create an expense transaction to refund the erroneous payment to the sender.
4. Make sure the refund amount matches the payment amount exactly.
5. Specify any necessary details and click Save and Close.
    

Additionally, I highly advise you to consult with an accountant to ensure that entries are correctly recorded and that your financial statements accurately reflect your business's activities.

Furthermore, I have provided an article on how to reconcile your accounts to ensure they consistently align with your bank and credit card statements.

Please let me know if you need further assistance with managing your payment or any other QuickBooks-related issues. The Community is available around the clock to help you.