Receiving

Hi there, @schand4462. Thanks for getting back to us. Allow me to chime in and share information when recording payments in QuickBooks Online.

For the two different types of payments, you may use an invoice or a sales receipt. Creating an invoice is a transaction record issued to request payment for a product or service. On the other hand, a sales receipt is a transaction record that is issued at the time of sale to verify the provided product or service. For multiple payment methods, you need to specify the amount received for each type of payment. This allows you to accurately record and track the different payment types for your records.

For customers who have a 30-day payment term, you can still utilize the Receive Payment feature in QuickBooks. Once they make the payment, you need to record it to link it with the invoice and balance your accounts.

Here's how:

1. Select + New icon and click Receive payment.
2. From the Customer dropdown, choose the name of the customer.
3. From the Payment method dropdown, select the payment method (credit card, debit, PayPal, Venmo, or ACH bank transfer).
4. From the Deposit dropdown, pick the account you put the payment into.  
5. In the Outstanding Transactions section, select the checkbox for the invoice you're recording the payment for.
6. Enter the Reference no. and Memo if needed.
7. Hit Save and close.
   
   

For detailed instructions, see this article: Record invoice payments in QuickBooks Online. It also contains information on how to record partial payment for your invoices.

I've added these great resources about undeposited funds, recording bank deposits, and how to personalize your sales forms in QBO: 

• Deposit payments into the Undeposited Funds account
• Record and make bank deposits
• Customize invoices, estimates, and sales receipts in QuickBooks Online

Please feel free to leave a comment below if you need anything else or follow-up inquiries about handling payment transactions in QBO. I'm just around to help. Keep safe always.