How would i categorize payments made to us for medical services performed by our medical clinic ?

Hello @donna-graceclini 

Set up an income account specifically for medical services. Go to Settings ---> Chart of Accounts ---> New and create an account under the Income category. Name it something like Medical Services Income for clear tracking. When payments are received, record them under this income account. You can do this by going to the Sales section and creating an invoice or sales receipt, then applying the payment to Medical Services Income, for example

Small tip: if your clinic offers different types of services, consultations, surgeries, etc., you can create different income sub-accounts under Medical Services Income to track each service category individually. Or if payments are made by insurance companies, you can also create a separate account for insurance payments to distinguish between direct patient payments and insurance reimbursements.

You should also categorize each payment with the correct method cash, check, or card for easier reconciliation and tracking.

This will keep your financial records organized

We'll help you categorize the payments received from the services rendered in the medical clinic, Donna.

First, you'll need to create a new account in your Chart of Accounts for tracking the payments you received. We'll gladly outline the steps to get you going:

1. Access your QuickBooks Online company.
2. On the top right corner, click the Gear icon.
3. Select Chart of accounts.
4. Click the New button and then enter the account name.
5. Select an Account type, and then choose the Detail type from the dropdowns.
6. Add a Description to add extra information about this account.
7. When you're ready, click the Save button.

Feel free to check this article for more details: Add an account to your chart of accounts in QuickBooks Online.

For categories to use when creating an account, we recommend working with an accountant to ensure it is tracked accurately inside QBO. If you don't have an accountant, I can help you find one. Feel free to visit this page: Find a QuickBooks ProAdvisor.

After setting up the account, you'll want to enter the payment inside your company and utilize the account you created in your COA. To record the payment, you can do it through entering it as an Invoice or Sales receipt.

Moreover, here's an article to help you manage accounts in your COA inside the program: Manage default and special accounts in your QuickBooks Online chart of accounts.

We encourage you to visit us or comment below if you require further assistance categorizing payments inside QuickBooks. As always, our team is ready to extend a helping hand in sorting your concerns. Keep safe.