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Cath_R
Level 3

Received Payments

Hello,

I am a little confused regarding Bank Feeds and Customer payments!

 

When I receive a payment from a customer and it's been deposit into our account, do I receive the payment first by going to customers and receive payments or do I go to the Bank Feeds center and add/match the payment to existing transaction? 

2 Comments 2
ChristieAnn
QuickBooks Team

Received Payments

Hi there, Cath_R.

 

Welcome to the QuickBooks Community. Let me share details on how to manage customer's payments and ensure you can record them accurately in QuickBooks Online.

 

Yes, you'll have to record first the amount by going to the Receive payments section and choosing the customer's invoice. Then, select the specific bank account the same as where the entry was deposited.

 

Here's how:

 

  1. Choose + New. Then, select Receive payment.
  2. From the Customer dropdown, click the name of the customer.
  3. From the Deposit to dropdown, select the account you put the payment into. 
  4. From the Outstanding Transactions section, choose the checkbox for the invoice you're recording the payment for.
  5. Fill in the other necessary field.
  6. Click Save and close.

 

I attached a screenshots below for visual references:

 

IN1.png

 

in2.PNG

in3.PNG

Once done, you can now go to the Banking page and match the transactions. You may refer to this article to see the steps on how to perform the process: Categorize and match online bank transactions in QuickBooks Online.

 

Lastly, you can open this article on how you can reconcile your accounts so they always match your bank and credit card statements and to avoid discrepancies: Reconcile an account in QuickBooks Online.

 

Add a comment if you have further questions about managing your customer's payments in QuickBooks.  I'm always here to help to assist you and have a good day!

Cath_R
Level 3

Received Payments

Thank you so much for the reply back and the information you provided. 

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