I have a customer that will be making automatic payments on an outstanding invoice every week for the next year (the same amount each week). Is there a way to set that up to occur automatically and still reflect that it is coming off of the invoice amount due? I have found I can either manually put it in as a "receive payment" each week or I can set it up as a deposit and set it up to be recurring but then it doesn't reduce the amount owed on the invoice. I need to be able to do both.
I do not need to know about recurring CREDIT CARD payments, just a recurring payment that goes directly into my bank and I just need to be able to account for it in my Quickbooks software. It will be happening once a week for the next year and I would really like to have it show up in my memorized transactions AND reduce the amount owed on the invoice that already exists. If you could advise how to do this, I would appreciate it.
At this time, the option to automatically transfer the payment directly to your bank when creating recurring payments isn't available. Setting up recurring payments only allows you to automatically get the payment from your customers' credit card account.
I can see how beneficial it is for you and your company to have this option. However, what we can consider right now is to manually deposit the payment to your bank account when you receive it.