QuickBooks tries to be intuitive, but there are so many options that sometimes it’s confusing to try even simple things. One example is how to receive payments in Quickbooks Online, and recording deposits.
In this video I explain how to receive payments and record deposits in QuickBooks Online, and I do it in under 3 minutes.
Receive Payments in QuickBooks
Step 1: If they paid with card or ACH, there should be a transaction posted to your bank transactions screen automatically. Check there first.
Step 2: If the client paid with cash or check, find the customer who owes money by going to SALES and INVOICES on the left-side menu. Identify the customer whose payment you are receiving and click RECEIVE PAYMENT.
Step 3: Confirm the amount they paid, the method they paid with, and the date you received the money (going into ‘undeposited funds’). Then click SAVE and CLOSE. And you’re finished!
Making Deposits:
Step 1: On the upper left in the menu, there is a plus sign with the word ‘New’ next to it. Click NEW, then BANK DEPOSIT (under ‘OTHER’)
Step 2: Select the payment from the list below of money you have received (into undeposited funds). Confirm the date you deposited the money into the bank, and click SAVE AND NEW (OR SAVE AND CLOSE).
Congratulations, you did it.
Or Have Me Do It For You
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To see an earlier post where I talked about making and sending invoices, click here.