I just upgraded from QuickBooks Self-Employed to QB Online. I migrated my data. I have three invoices showing up as open (unpaid). I already recieved payment for two of these. One was paid through QB and the other was a paper check I deposited.
I am trying to link the bank deposit to the invoice. The Recieve Payment funciton is new to me. But when I try to make a new recieve payment, QB says I don't have any open invoices from the client. When click receive payment next to the invoice, then type in the date and account from the Banking register for the deposit, QB says no matching transactions found.
Am I doing something wrong or is something a little strange with the migration of the data from QBSE?
Hi there, @jlh503.
Allow me to share some information about deposits in QuickBooks Online (QBO).
The Deposit field on the Invoice page will reduce the total invoice. The deposit is placed in the Undeposited Funds account in which has not been associated with the actual account yet. We'll have to create a Bank deposit to do that.
Let's create a bank deposit to put the funds into the actual bank.
Check out this link to help you create customer payments: Record customer payment in QuickBooks Online
I will wait for your response, so I can help you further. Use the Reply button below to connect with me again. Have a good one!
Let's get the job done, @jlh503.
Thank you for providing concrete details of your concern and for following the steps outlined by my colleague. Let's edit the deposit so this will be linked to your customer's invoice. Refer to these easy steps below:
Once done, apply it as a credit to the invoice:
Check it here for more info: How to link a deposit to an invoice.
Also, to get a list of all payments and invoices for each of your customers, you may pull up the Invoices and Received Payments Report. Then, customize it so it will only show the info you need.
If you need further assistance in linking the deposit to your invoice, please feel free to post a reply below. I'm always here to help you. Have a good one.
Let's review your invoice payments and get those transactions completely deposited, VA26.
I appreciate the screenshot you've provided. Undeposited Funds is a holding account that tracks payments received from customers that have not been deposited to your bank account.
You'll need to record a bank deposit to move the money to your savings or checking account. Let me walk you through the process:
To know more about this process, you can take a look at this article: How to Record Bank Deposits in QuickBooks Online. It contains more details about managing invoice payments as well as links to help you with your future task.
This should get you moving today, VA26. Don't hesitate to let me know if I can be of additional assistance while working in QuickBooks or if you need more help with depositing your invoice payments. I'm always here to keep helping. Have a good one!