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June 1, 2021
Question

If an invoice is already paid,how do i ''press'' paid?

  • June 1, 2021
  • 1 reply
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1 reply

June 1, 2021

Hi there niacoutras,

 

Making sure your transactions are properly recorded makes a difference in how your books balance out and how the data is recorded. In QuickBooks Online, there are a number of ways you can record income from your customers, and I'd be happy to go over recording payments so that you know your options.

 

Invoices are a two part transaction: the entry to show the amount owed by the customer for service rendered or a product received and then the payment entry itself. In QuickBooks, this is broken down into the Invoice and Record Payment features. To record a payment against an invoice, all it takes it going to the +New button in the left menu and choosing Record Payment, which will bring you to where you can enter the information needed. Here are a couple of helpful articles about working with invoices.

Another thing to keep in mind when you're working with income transactions is which kind would be best to use. For instance, if you have a situation where the product or service and the payment are exchanged at the same time, a sales receipt may be more appropriate. Here's an article that goes over these options, as well as one about sales receipts.

If you're ever in doubt about what type of transaction to use, an accountant is a great resource to consult. They have the training to know how these kinds of transactions can impact your books and which would be best for you to use based on your situation. To work with an accountant directly in QuickBooks Online, you can invite yours on as a user via the My Accountant tab to give them access to your books. The great thing about that tab is, if you don't already have an accountant connected and would like to search for one, you can take advantage of the Find a pro to help button to research QuickBooks-savvy accountants near you.

 

Let me know if that helps clear how how to record payments against your invoices and receiving payments in general! I'm here to help however I can.