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Level 1

payment and generating an automatic invoice

Hi

Is there a way to receive/apply a payment and generate an invoice all in one step in Quickbooks online? Thank you!

 

3 Comments
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QuickBooks Team

payment and generating an automatic invoice

I'm here with some information that I'm sure you'll find helpful regarding automatic invoice and payments, @SMA2020.

 

To clarify, do you have customers you invoice and collect payments regularly? You can make recurring templates to automatically create invoices, sales receipts, expenses, and other tasks you do regularly. This way, you'll save more time because you won't be entering all those transactions by hand. Creating a progress invoice gives your customers the flexibility to choose when and how much to pay, while a recurring sales receipt automatically charges a customer at a given interval.

 

Here's how to create a recurring template:

  1. Go to the Gear icon.
  2. Select Recurring transactions.
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  3. Click on the New button.
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  4. Select a transaction type and click OK.
  5. Fill in the necessary info.
  6. Click Save template.

 

You can read through our guide on creating recurring transactions for more information. It also has additional resources that I'm sure you'll find helpful with regards to editing your templates.

 

Please fill me in should you have any further questions or concerns. I'd be happy to help. Thank you for reaching out. Have a wonderful day.

Highlighted
Level 1

payment and generating an automatic invoice

We are a small non profit and when we have donations, we have previously just recorded them as a bank deposit, usually in a lump amount but assigning each line to the individual donor. Ex: Deposit $100

John Doe 50

Mary Jane 25

Sally Mae 25

However, this has created two issues:

1. when we do an advanced search for deposits and customer, we see the lump deposit amount, not individual donors gift, making it hard to print a report for what that donor gave over the course of a year.

To correct this, we can create an invoice and then receive payment and apply the donation amount to that invoice.  This is the only way I am aware of that will produce the type of donor/donation listing we are looking for.

The problem is, that this is a two step process.  I don't record anything until I have the cash in hand so to speak.  So I was looking for a way to enter a deposit and have QB create a matching invoice by a simple check of a box.  Too much to hope for?  If I did a sales receipt instead of an invoice, would it 'book' the same way?

2.  We are looking at using Salesforce within the next two weeks.  Part of the goal will be to record the donations in Salesforce then link the donations to QBO so they can auto post.  I believe they will post as a invoice pledge and then Accounts Receivable.  So I think I am going to have to go the invoice route.  Any thoughts?

THANK YOU SO MUCH.  I really appreciate any knowledge anyone can share on this.

 

Highlighted
QuickBooks Team

payment and generating an automatic invoice

Hi @SMA2020,

 

Thank you for your prompt reply, as well as sharing more details on your situation. I'll provide insight on how you can track donations in QuickBooks Online (QBO). 

 

First, I suggest you create a revenue account for these donations. Ensure the detail type is set to Non-Profit Income.

 

Next, you can create a fund donation item. You can use it every time you receive donations. Create a non-inventory item, and use the revenue account you created earlier. 

 

Let's proceed with recording the donations. You can use a sales receipt transaction if you receive the donation right away. Additional details on this process are in this article: Track funds you receive from donors in QuickBooks Online.

 

For in-kind donations, take a look at this article instead: Set up and record in-kind donations. It's a step by step guide on how to set up this type of donation in your QBO company.

 

Drop a comment below if you have other concerns. I'll be sure to get back to you. 

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