Record payment for prior year Invoice recorded in the peachtree

It's great having you here in the Community, Mitch. I'll share information on how you can record a payment from a prior year's invoice.

Recording a payment from a prior year invoice in QuickBooks can be done in the Sales tab section. All you need is to locate the exact date for that invoice to get started.

Here's how:

1. Log into QuickBooks Online:
   • Open your QuickBooks Online account.
2. Go to the Sales Section:
   • Click on the Sales tab on the left sidebar.
   • Select Invoices from the dropdown.
3. Find the Invoice:
   • Search for the prior year's invoice that you need to record payment for. You can filter by the date or customer name to quickly locate it.
4. Open the Invoice:
   • Click on the invoice to open its details.
5. Record the Payment:
   • Select the Receive Payment option.
   • Fill in the payment details, such as the payment date, payment method, and the amount being paid.
   • Ensure that the invoice is checked to indicate that payment is for this specific invoice.
6. Save the Payment:
   • Click on Save and close to record the payment.

Please note that recording a payment on a prior year invoice can affect your financial reports, so ensure that everything aligns with your accounting records.

Therefore, please be aware of any tax implications that may arise from payments associated with prior-year invoices.

To receive and process payments in QuickBooks Online with QuickBooks Payments. Allow you to use a different payment date than the invoice date so you can record it accurately for your records.

After receiving and recording your invoice, you'll be ready to create and send customer statements in QuickBooks Online.

If there is anything else I can help you with. Aside from the recording of the invoices, please let me know by leaving a comment below. I'd be more than willing to lend you a hand, Mitch.

Invoice been recorded 2023 in other accounting software, I  just received  a payment for it.

We  are using QB Online since January 2024, I would like to record this entry (payment) -avoid to duplicate the invoice.

Thanks,

Invoice been recorded 2023 in other accounting software, I  just received  a payment for it.

We  are using QB Online since January 2024, I would like to record this entry -avoid to duplicate the invoice.

Thanks,

It's commendable that you've taken control of your invoicing, Mitch. I'm glad you've integrated QuickBooks Online into your workflow. Let me take the lead on this payment, guaranteeing accurate documentation throughout.

In QuickBooks Online (QBO), you can efficiently record payments for invoices generated in another accounting software without the risk of duplicating the invoice itself. Leveraging the Bank Deposit feature makes the process smoother.

Before proceeding, I suggest contacting your accountant for guidance on which account to use for this payment. It will ensure proper categorization based on your financial practices.

To create a deposit for the invoice payment, here's how:

1. Navigate to the + New button in your QBO and select Bank Deposit.
2. Choose the bank account in the Account dropdown where you received the payment.
3. Toggle the Date and Currency for this payment.
4. In the Add funds to this deposit section, fill out the necessary fields.
5. Under the Received from category, select the name of the customer who made the payment or hit on Add new if necessary.
6. Once completed, click on Save and close.

I've included screenshots below for your reference:

In the Memo field, you can add a note indicating that this payment is for an invoice recorded in another system, along with any relevant invoice number for your records.

For more comprehensive and detailed information about this process, I recommend reading our guide article, Record and Make Bank Deposits in QBO.

Alternatively, you can record this payment by creating a Sales Receipt for the customer. This approach effectively recognizes income and records payments without needing an outstanding invoice.

As you continue to navigate our software, I’d like to share some valuable articles on managing invoices that will empower you with tips and best practices to streamline your invoicing process and enhance your overall experience:

• Customize invoices, estimates, and sales receipts in QBO
• Set up and send progress invoices in QBO
• Send invoice reminders automatically or manually in QBO

Your financial journey deserves to be seamless and successful, Mitch. If you have questions or concerns with your invoice payments or other features of our program, please know that I'm always here to support you. Let's keep this conversation engaging and productive.