what is the workflow in 2024 for receiving a payment in QBO when there is a payment fed through the bank and how to avoid duplicate sales?

It’s great to connect with you today, Seng. Let’s dive into your questions about managing payments in QuickBooks Online (QBO) and ensure we find a solution that works for you.

When a payment is received and automatically fed through your bank, QBO will attempt to match it to existing invoices. It is an excellent feature for streamlining your accounting.

When conducting the matching process, QBO will propose a payment for validation if it corresponds to an outstanding invoice. It is crucial to examine and confirm these matches thoroughly.

To prevent duplicate sales entries:

• Always ensure that you only accept the matched payment once.
• If you see a payment that matches an invoice, confirm the match instead of manually entering the payment again.

If your client is experiencing issues with invoices being nullified, it can be due to incorrect matching or entry of payments. Ensure payments are correctly linked to the corresponding invoices. If a payment is added manually after matching, it can lead to irregularities in your reports.

Additionally, there are several ways to categorize transactions from your bank in QuickBooks. Once you receive a customer payment, you can match it to the corresponding invoice created in QBO. If you have not recorded any transactions for that payment yet, you can enter them in the For Review section on your Banking page. It ensures everything stays organized and accurate.

To match the payments to invoices:

1. Go to the Transactions menu and select Bank Transactions.
2. Select the bank account where the payments are posted.
3. Choose each payment and select the Match option.
4. Review the transaction and ensure it has the same amount.
5. Hit Match.

For more details, see this link: Categorize online bank transactions.

Furthermore, visit this page to reconcile your accounts with your bank and credit card statements to ensure your records are accurate.

Thank you for discussing your payment process in QuickBooks with me today. Let me know if you have other questions about matching payments in QuickBooks. I want to ensure your books are accurate.