cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

Received invoice payments in two installments - unable to match the balance in Bank and QB

I had raised an invoice with my customer in June 2018, however received payments in installment one in Aug 2018 and other in Oct 2018, when the final payment came in, as the invoice was showing pending in the Sales/invoice section, went there and selected the receive payment option however in QB those two transactions are still showing as uncategorized income, although it came from the customer, should i manually add to income if yes, which option and if not how much should i wait before QB accepts it as a transaction from the customer, the other issue is the balance now stands equal between bank and QB, if the payment is accepted in QB, it will show a big difference, any assistance will be helpful.

1 Comment
Highlighted
Moderator

Received invoice payments in two installments - unable to match the balance in Bank and QB

I’m happy you came to the right place, thomas_sachin.


Let me help you record the customer’s payments in QuickBooks Online (QBO).


First, I’d like to ask how you received or record the payments. If you enter it as a bank deposit, use the Accounts Receivable in the Account column. This ensures that QBO will account the payments correctly.


Once done, link the deposits to the invoice by using the Receive Payment feature.

 

Let me show you how:

 

To update the deposit:

  1. Open the deposit.
  2. Scroll down to the Add funds to this deposit section.
  3. Select Accounts Receivable in the Account column.
  4. Click Save and close.
  5. Repeat as needed.

To link the deposit to the invoice:

  1. Click the Plus sign icon, then choose Receive Payment.
  2. Select the appropriate Customer name.
  3. Check the invoice and the deposits.
  4. Click Save and close.

The payment will now show in the Customer Center listed as a deposit and it will zero out the invoice and the Accounts Receivable.

 

Here's an article for more details: How to link a deposit to an invoice.

 

That should work for you. Should you have other questions, feel free to leave a comment below. Have a great day.

undefined undefined

 

Need to get in touch?

Contact us