Recording invoice payment to line of credit

Hi there, @jbgaines04.

Glad to have you here in the Community. I'm here to help share some information about tracking the invoice payments that are sent directly to your loan company.

At this time, being able to track the payments that were sent directly from your loan company into your QuickBooks Online isn't an option for us. This is because your loan company is capable of keeping all their bank transactions. However, if you have the list of the invoices, you can manually keep track of those amounts that needs to be paid to your loan company. 

I'd encourage you to visit our QuickBooks Online Blog to be updated with our latest news, updates, and product improvements that would be beneficial to you and your business.

Lastly, I've included here some helpful articles about recording customers payments in QuickBooks Online for your future reference:

• How to record a customer payment.
• How to Record Bank Deposits in QuickBooks Online.

This should keep you moving today.

Please know that you've got me here in the Community if you have any other questions with recording invoice payments by leaving a reply below. I'd be pleased to help. Have a great day!

Hello and thanks for responding.  For a point of clarification I was asking how to track payments sent from my customer to the loan company?  However, your correct my loan company does track payment.

Invoice to customer- customer sends payment to loan company - loan company send money to me

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@jbgaines04 wrote:

When our customer pays invoices the funds do not come directly to my company instead the customer sends the money to the company that finances my payroll.  Once the loan company receives payment from my customer they deduct money and deposit the rest into my banking account.  My problem it looks like I'm getting paid twice, one by my customer and again by the loan company.  Is there a way to show that invoice payments are sent directly to the loan company?

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Receive the customer payment and deposit to the cash account

from the cash account make a payment to the loan company

transfer the balance to the bank account

download banking and match

Hello,

  Yes, as it was described above you would need to deposit payment to the cash account, see attached. And then make a transfer (using transfer funds feature):  

1. Select the Plus icon (+) on the Toolbar.

2. Under Other, select Transfer.

3. From the Transfer Funds From drop down list, select the bank account that the funds are coming out of.

4. From the Transfer Funds To drop down list, select the bank account the funds are being deposited into.

5. In the Transfer Amount field, enter the amount being transferred.

6. Edit the Date.

7. (Optional) Enter a description of the transfer in the Memo field.

8. Select Save and close or Save and new.

The funds are transferred as you specified.

Hope that helps.
Polina