Hello- I am attempting to help an established business that is expanding. She receives payment only online CC or PayPal. She does an invoice for some of her charges, but others are paid to her without an invoice. (Automatic payments made online for anticipated services) It is important for her expansion that all payments paid by a customer show up in their customer account section. What would be the proper process? When she gets an email that someone has made a payment should she record the payment at that point? Right now, she just downloads her bank statements and then just categorizes them. Could she create a sales receipt at this point? She does not create any sales receipts for these non-invoiced services currently, so anything that is not invoiced does not show up in the customer account section.
Thank in advance! I am not an accountant and my brain hurts!!
You could have her create and email a sales receipt at that time as you mentioned. If she does this first she can match the transactions as they come through the PayPal/Payment feed. I am interested to see what others suggest.
Hi Nicole-YAS. Two easy solutions here if using the desktop version. An invoice or sales receipt needs to be created for an accurate record in the customer account section. That can be automated by using the memorize transaction feature. She can set the date the transaction gets entered, either ahead of time or same day the payment is made. She would still need to receive payment manually, as far as I can tell. Second option would be to use the 'create a copy' feature to duplicate past invoices/sales receipts as payments come in. Payments either way have to be deposited to the check register manually. Downloaded deposit info from her bank would then have to be reconciled with QB. Hope that helps.
For the payments where she doesnt raise an invoice, presumably these transactions appear in her banking section of QuickBooks if she has her bank account linked up. Alternatively she may upload CSV files at regular intervals. Both these methods work in the same way. Once you have the transactions in the 'For Review' section of the bank she should allocate this income as a Sales Receipt to be able to allocate a customer against it (the deposit feature will not allow you to do this).
For all the income that an invoice is raised for these can be matched in the banking section as normal.
I hope this helps if you have any questions please do not hesitate to private message me on here.