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Frequent Explorer *

Receiving invoiced payments paid with BACS

Hi

 

First month of QBO and have 1st payment to receive .... If it is paid straight into main bank account by BACS do i just pick that account on the receive payment page and not bother with undeposited funds in between?

 

Does it then need matching ?

 

Thanks Kev

Solved
Best answer 10-02-2018

Accepted Solutions
QuickBooks Team

Re: Receiving invoiced payments paid with BACS

Hello and welcome to the QuickBooks Community kevh!

 

You certainly don't need to use the Undeposited Funds account if you have the correct Bank on your QuickBooks Online already. When it comes to matching transactions this something you do not necessarily need to do however this can be handy for when you are reconciling your accounts.

 

Please let me know if you would like anymore help with this. :)

3 REPLIES 3
QuickBooks Team

Re: Receiving invoiced payments paid with BACS

Hello and welcome to the QuickBooks Community kevh!

 

You certainly don't need to use the Undeposited Funds account if you have the correct Bank on your QuickBooks Online already. When it comes to matching transactions this something you do not necessarily need to do however this can be handy for when you are reconciling your accounts.

 

Please let me know if you would like anymore help with this. :)

Frequent Explorer *

Re: Receiving invoiced payments paid with BACS

Thanks Edward for your quick reply.

 

All invoices pretty much B2B so should all work this way.

 

Just to warn you I have a few more starting off questions to post too ;)

 

Thanks Kev

 

 

 

 

 

 

Intuit

Re: Receiving invoiced payments paid with BACS

Hi, @kevh

 

Welcome to the UK QB Community! :smileyvery-happy:

 

I would love to know more about what you do & what you use QBO for. Are you a small business owner or are you self-employed? 

 


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