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rajatpaypal07me
February 6, 2021
Question

Hi, I am new in this platform. To check how this platform works, I added a few invoices and then added "receive payment" against those invoices

  • February 6, 2021
  • 1 reply
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Hi, I am new in this platform. To check how this platform works, I added a few invoices and then added "receive payment" against those invoices and linked to a certain account where they should be deposited. But the problem is in my journals or other reports, those payments are appearing as accounts receivable (A/R). I thought there will be a mention of which account they got deposited to in the statements or journal. I needed it that way for various reasons. Could you anyone help me with this or let me me how to solve this? Many thanks.

1 reply

RenjolynC
RenjolynC
February 6, 2021

I'll provide details about the journals, rajatpaypal07me.

 

When creating an invoice, Accounts Receivable is the account used when a customer purchases your goods or services but does not pay for them at the time of purchase. 

 

After receiving the payment, the transaction journal will display the amount as a credit in the Accounts Receivable account and a debit to the bank or if you use the Undeposited Funds account.

 

You can open the transaction journal on each transaction to know the affected accounts.

 

Here's how:

 

  1. Go to Sales > Customers.
  2. Select the customer's name and open the invoice or receive payment.
  3. Click More located at the bottom and choose Transaction journal. This will open a journal report where you can see the invoice is posted.

Please see this sample screenshot for a visual reference:

 

 

You can also read this article for more details about recording an invoice: Create invoices in QuickBooks Online.

 

I'm just a post away if you need more help with your account. Take care and stay safe.

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