Let us guide you on how to record payments and deposit your invoices in QuickBooks Online (QBO), Megzi22.
It sounds like you are looking for the two-step process to record a payment for an invoice and then record the deposit, especially when combining multiple payments. This process ensures your bank records in QBO match the actual single deposit amount on your bank statement.
We can record the customer payment (using Undeposited Funds). This marks the invoice as paid and temporarily holds the money in a holding account called Undeposited Funds. Here’s how:
- Click + New or + Create.
- Select Receive payment.
- Choose the customer from the Customer dropdown.
- Tick the checkbox for the invoice you’re receiving payments for.
- From the Deposit to dropdown, select Undeposited Funds.
- Fill out the rest of the form.
- Press Save and send, Save and new, or Save and close.
To learn more about this one, check out this article: Deposit payments into the Undeposited Funds account in QuickBooks Online.
Then, record the Bank Deposit (to combine payments). This moves the money from Undeposited Funds into your actual bank account, combining all selected payments into one lump sum that matches your bank slip. For the steps and details, refer to this article: Record and make bank deposits in QuickBooks Online.
Revisit this post if you have more questions about depositing customer payments or any QuickBooks-related concerns.
