What actions needs to be taken in order for an invoice to show a status of PAID?

DG96 · ‎June 27, 2020

For example, if customer transactions is being reviewed and an invoice appears to have a status of PAID, what actions have been used (e.g. using "Receive payment" option, creating a Sales Receipt, matching the open invoice within the banking centre, entering a journal, or entering a deposit).

KlentB · ‎June 27, 2020

Thanks for coming back to this thread, DG96.

The easiest and most appropriate option to mark an invoice as paid is the Receive payment. Though, entering a deposit and creating journal entry will also do the trick. You can follow these simple steps to receive an invoice payment:

Click the + New button, then select Receive Payment.
Choose the appropriate customer from the drop-down menu.
From the Outstanding Transactions section, select the appropriate invoice.
Choose a payment method.
Enter the necessary information.
You can either deposit the money to your checking account or to the Undeposited funds account.
Click Save and close to complete the process.

In case you'll need to track all invoices that are due on a particular date range, we can customize the Transaction Detail By Account report.

If I can be of any additional assistance, please don't hesitate to drop a comment below. Stay safe and have a great rest of the weekend.

View solution in original post

LieraMarie_A · ‎June 27, 2020

I'm here to help give some insights about managing invoices, @DG96.

You can use a sales receipt only when you get paid immediately. Otherwise, create an invoice and receive payment against the transaction.

Also, you can link a deposit or apply a journal entry credit to an open invoice. Once you fully paid the transaction using these actions, it will automatically mark as Paid.

Additionally, when you connect bank and credit card accounts to QuickBooks Online, it helps match and categorize your online bank transactions. You can refer to these helpful articles for more details:

Feel free to comment down below if you have additional concerns or questions. I'm always around to help.

DG96 · ‎June 27, 2020

Thank you @LieraMarie_A

In this scenario, which two from the following are the most appropriate ones when it is an invoice stating the status PAID.

"Receive payment" option,
creating a Sales Receipt,
matching the open invoice within the banking centre,
entering a journal,
entering a deposit.

KlentB · ‎June 27, 2020

Thanks for coming back to this thread, DG96.

The easiest and most appropriate option to mark an invoice as paid is the Receive payment. Though, entering a deposit and creating journal entry will also do the trick. You can follow these simple steps to receive an invoice payment:

Click the + New button, then select Receive Payment.
Choose the appropriate customer from the drop-down menu.
From the Outstanding Transactions section, select the appropriate invoice.
Choose a payment method.
Enter the necessary information.
You can either deposit the money to your checking account or to the Undeposited funds account.
Click Save and close to complete the process.

In case you'll need to track all invoices that are due on a particular date range, we can customize the Transaction Detail By Account report.

If I can be of any additional assistance, please don't hesitate to drop a comment below. Stay safe and have a great rest of the weekend.

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What actions needs to be taken in order for an invoice to show a status of PAID?