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mailserver09
April 5, 2021
Question

Unique customer reference number for bank payment

  • April 5, 2021
  • 1 reply
  • 0 views

We have almost 500 to 600 students and would like to give each one of them unique reference number, how do I do it and while they make payments they are suppose to use that as reference and can quick book online capture the payments automatically and allocate to the students invoice from the FOR REVIEW section?

1 reply

JessT
JessT
April 5, 2021

Hi mailserver09,

 

I also like the idea of ​​assigning reference numbers to customers (students) to be used when they pay for a faster way to match transactions. However, this is currently not a feature in QBO.

 

By the way, bank transactions usually have the name of the payer/transferer, and I assume in your case that their amounts are equal to their invoices. Therefore, with payer and invoice amount details, they should detect their corresponding invoices as matches. Thus, you can simply accept the matched transactions in batches.

 

 

Another option is to create bank rules to automatically accept bank transactions as sales receipts. For example, if the bank transactions contain the name of the transferer/student in the bank details, you can set a rule that every transaction with their names will be automatically accepted as sales receipts in QBO. This is ideal if you're not doing invoices.


 

You can always go back to this thread if you have other questions about your bank transactions or student payments.

M
mailserver09Author
April 5, 2021

Thank you jessT for the reply. 

Still if the invoice amount and payment amount matches can QBO pick automatically and allocate without clicking match tab.

 

In most cases the invoice and payment is different, because some have overdue balance and pay it in one go, so I usually divide the amount manually.

 

AlexV
AlexV
April 5, 2021

Hello mailserver09!

 

Yes, QuickBooks Online has an option to automatically apply the payment transactions to the invoices. When creating bank rules, make sure to turn on the Automatically confirm transactions this rule applies to. This allows all transactions that meet the conditions to automatically added without the need to click Confirm nor Match.

 

When a single payment transaction needs to be applied to multiple invoices, this is the time we need to use the Find match option. Follow these steps:

  1. From the Banking tab, find the downloaded transaction and select it to expand the view.
  2. Tick the Find match button. 
  3. On the Match transactions window, you'll see all the transactions that can be matched. Locate the open invoices you want it to match and check their corresponding boxes.
  4. Tap Save.

 

For your reference, you can also check this link on how to handle and review the downloaded transactions: Categorise and match online bank transactions in QuickBooks Online.

 

Need to reconcile an account? Check the detailed steps in this article: Reconcile an account in QuickBooks Online.

 

I'm only a post away if you have more questions. Take care always!

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