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August 1, 2024
Question

Can I receive an invoice payment that was made by a third party? We invoice one party and their affiliate pays the amount due. I'm using QB online.

  • August 1, 2024
  • 1 reply
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I received the payment as usual. Then I put the deposit under the payors name. Is this correctly done?

1 reply

August 1, 2024

You're on the right track with your invoice payments, Kim.

 

In QuickBooks Online (QBO), after incorporating a third-party app into your account, you'll be able to receive invoice payments made through the app. This integration streamlines the payment process by allowing you to manage all your invoice payments within your QBO account, providing a convenient and efficient way to handle transactions from third-party sources.

 

However, if you meant the categorization under which your payment will be classified, I suggest seeking advice from your accountant as this involves your books. If you don't have an accountant, know you can get one by scanning this webpage: Find a QuickBooks ProAdvisor.

 

In the event of the recording process and classification of your invoice transaction, you can refer to this article: Categorize online bank transactions in QuickBooks Online.

 

After that, you can start reconciling your books. This process helps ensure accuracy between your bank statements and QBO accounts. You can gain insights and step-by-step guidelines through this material: Reconcile an account in QuickBooks Online.

 

Don't hesitate to return this thread if you have additional questions about your invoice payments in QBO, Kim. I'll be at your assistance as soon as I get your reply.