cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 3

Receive payment for an invoice when banking is linked to QBO

I sent a progress invoice to a customer for 50% of the estimate total. They have now paid the 50% via wire transfer and it has cleared our bank account and is now in the "for review"  column within the banking tab in QBO. How do I apply this deposit from the customer to the invoice?

Solved
Best answer 06-27-2019

Accepted Solutions
QuickBooks Team

Re: Receive payment for an invoice when banking is linked to QBO

Hello @ST11,

 

I can clarify things out for you.

 

There isn't a need to change the posting account since the deposit is not yet posted on your register.

 

What you need to do is match the deposit with the open invoice so QuickBooks will automatically create the payment for you. Therefore, there isn't a need for you to manually receive the payment.

 

Let me show you how:

  1. Select Banking from the left panel.
  2. Choose the bank where the payment was deposited to.
  3. Go to the For Review tab.
  4. Mark the deposit, then click Match under the Action column.
    matchinvoice.PNG

Once done, go to the customer's account. The open invoice is now closed and a payment is automatically applied to it.
customersaccount.PNG

 

The deposit is now posted on your bank register in QBO.

 

Should you need anything else with your invoice payment, please let me know. I'm always around here in the Intuit Community to help.

View solution in original post

5 Comments
QuickBooks Team

Re: Receive payment for an invoice when banking is linked to QBO

Hi there, ST11.

 

Thank you for posting here in the QuickBooks Community.

 

Linking deposit to an invoice is pretty easy. You'll will first need to edit the account used in the deposit into Accounts Receivable.

 

Here's how: 

 

1. On the left panel, select Accounting. 
2. Select Chart of Accounts and find the account you deposited the payment to, then click View Register.
3. Find and choose the correct deposit.
4. Select edit.
5. On Bank Deposit page, scroll down to Add funds to this deposit, then find the fund you need to edit.
6. On the drop-down arrow under Received From column, choose the appropriate Customer name.
7. In the Account column, select and click Account's Receivable.
8. Select Save and Close.

 

After that, you can follow the steps below to link it to the invoice:

 

1. At the top right, select the Plus(+) icon.
2. Under Customers, click Receive Payment.
3. Select a customer on the drop-down arrow under Customer.
4. Put a check-mark on the box beside Invoice and deposit.
5. Click Save and close.

 


For applying credit to the invoice you can check out to these articles for your references:

 


Please feel free to post again if you have other questions and concerns. We are always happy to help you. Have a good day!

Level 3

Re: Receive payment for an invoice when banking is linked to QBO

Still a bit confused....Because we have the auto bank feeds set up the payment from the customer is still in the bank 'for review' tab and it is not matched to the invoice yet so it does not show in the bank register. Do I need to match this received payment to the invoice first so it shows up on the bank register in QB before I follow your instructions?

 

OR....Is it possible to follow your steps to link the payment to the invoice first and then match the payment from the customer in the bank 'for review' tab?

 

Thank you for your help!

QuickBooks Team

Re: Receive payment for an invoice when banking is linked to QBO

Hello @ST11,

 

I can clarify things out for you.

 

There isn't a need to change the posting account since the deposit is not yet posted on your register.

 

What you need to do is match the deposit with the open invoice so QuickBooks will automatically create the payment for you. Therefore, there isn't a need for you to manually receive the payment.

 

Let me show you how:

  1. Select Banking from the left panel.
  2. Choose the bank where the payment was deposited to.
  3. Go to the For Review tab.
  4. Mark the deposit, then click Match under the Action column.
    matchinvoice.PNG

Once done, go to the customer's account. The open invoice is now closed and a payment is automatically applied to it.
customersaccount.PNG

 

The deposit is now posted on your bank register in QBO.

 

Should you need anything else with your invoice payment, please let me know. I'm always around here in the Intuit Community to help.

View solution in original post

Level 1

Re: Receive payment for an invoice when banking is linked to QBO

The bank feed came in and is trying to match to the wrong invoice -  wrong customer.

I try to match it with other invoices but the one I want is not listed.

It is already closed in the customers account.

It says it is looking to match with open invoices but qbo already closed it.

I am very confused.

Liz

Moderator

Re: Receive payment for an invoice when banking is linked to QBO

Hello there, BDT_Dog,

 

Let's review the transaction first to know why it's closed. There might be an available credit which automatically closed the transaction. Or, the invoice amount is zero.

 

Once done, follow these steps to match them:

 

  1. On the Recognized window, click the transaction to open.
  2. Select Find other records, then click the drop-down and select Receive payments to match the transactions.

I'll be here if you have additional questions.

Need to get in touch?

Contact us