When a customer pays on an invoice, receive the payment in QuickBooks Online using the steps below.
Note: In QuickBooks Online, we record a payment only when the customer was given an invoice. If you didn’t invoice your customer for an amount they paid you, you should enter a sales receipt or a deposit instead of a payment.

For a sales receipt: choose Plus Sign (+) > Sales Receipt
For a deposit: choose Plus Sign (+) > Bank Deposit

Receive Payment on an Invoice:
1. Choose Plus sign (+) > Receive Payment.
2. Enter the name of the Customer.
3. Enter the Amount, Pmt Method, and the Reference no. If recording a payment by ACH, NEFT or another direct method you can choose Add New from the

drop-down, label the method ACH or another term of your liking and make a note in the reference number field.

1. Make sure that the correct invoice is checked. You can uncheck the wrong invoice and check the correct one manually if necessary.
5. You can use a filter for a date range on the Receive Payment page to limit the number of open invoices that are displayed.
6 .Choose to either Deposit To your checking/Cheque account directly or to Undeposited funds, which will put it in the Bank Deposit screen to batch together with others.
Click Save.

If you’d like to tell the customer how much to make the payment for from their account:-

1. Choose Plus sign (+) > Receive Payment.
2. Click the Customer drop-down arrow and select the customer.
3. Under the Outstanding transactions section, click to select the invoices and/or other transactions that you would like to have QuickBooks Online calculate for the customer to pay. As you select these items the total on the payment will change.
4. Click the Pmt Method drop-down arrow and select the payment method.
5. Enter the Reference no. and Memo if applicable.
6. Choose to either Deposit To your checking/Cheque account directly or to Undeposited funds, which will put it in the Bank Deposit screen to batch together with others.
7. Click Save.

If you chose to deposit to Undeposited funds and are ready to group the payments so that they show as one deposit on the register:

1. Choose Plus sign (+) > Bank Deposit.
2. In the Select Existing Payments section, put a checkmark next to the payments that you want to group together.
3. Make sure the total looks accurate.
4. Click on Save or Print.

If you chose to Deposit To: the amount will automatically deposit into the bank account you specified. It is not possible to print a deposit summary or deposit slip when Deposit To: is used. If you need to print a deposit summary or deposit slip for a single payment, select Deposit To: Undeposited funds and follow the instructions given above for the Bank Deposits screen. Instead of checking off multiple payments, just check the one payment and click the Print button.

Partial Payments

You should record a payment even if you were paid only part of what is owed on the invoice. QuickBooks Online will keep track of the invoice’s open balance, which you can see by reopening the invoice and looking at the Balance Due line near the top of the page.

You can see all of your open invoices with their current balances by running the Customer Balance Detail report from the Reports menu.

When you receive a partial payment from a customer, QuickBooks Online will start applying the money with the first line item on the invoice and continue applying the payment until the payment has been used. There is not a way to change the order in which QuickBooks applies the money to the invoice.

Joint Payments
If you have a situation where one customer check/cheque pays for his invoice plus that of another customer, you can receive it in the following manner:

1. Choose Plus sign (+) > Receive Payment.
2. Enter the name of the first Customer.
3. Enter the Amount, Pmt Method, and the Reference no. Make sure you note the check/cheque number in the Reference no. field.
4. Make an entry in the Memo field that this payment is included in the check/cheque with (other customer’s name).
5. Make sure that the correct invoice is checked. You can uncheck the wrong invoice and check the correct one manually if necessary.
6. Choose to Deposit To: Undeposited funds, which will put it in the Deposits screen to batch together with the other payment.
7. Click on Save.

Repeat for the second customer, making sure the check/cheque number is the same and that you enter a descriptive memo. Next, group the payments so that they show as one deposit on the register:

1. Choose Plus sign (+) > Bank Deposit.
2. In the Select Existing Payments section, put a checkmark next to the payments that you want to group together.
3. Make sure the total looks accurate. The total in this case should be the amount of the joint check/cheque.
4. Click on Save or Print.

Invoice:——–

Receive Payment

Reconcile the Account

You can reconcile an account in QuickBooks Online to match the transactions on your monthly bank statement with the transactions you entered into QuickBooks Online Plus. Only accounts shown within a balance sheet are available for selection when you want to reconcile an account in QuickBooks Online. This means that only balance sheet accounts can be reconciled- for example, your “Checking” account, credit card accounts etc.
To reconcile an account in QuickBooks Online, from the Gear, click the “Reconcile” link under the “setting” heading to open the “Reconcile”

The “Start Reconciling” window offers the same “Account” dropdown list, so you can change the account if you want or need to. In the “Enter the following from your statement” section, enter a “Statement Ending Date” that matches the ending date shown within your bank statement. The “Beginning Balance” for the account appears to the right. In the “Ending Balance” field, enter the “Ending Balance” from the bank statement for the account.

If any difference regarding the transaction verified from the bank statement possibly may be “Enter service charges and interest earned, if any” section, enter any service charges or interest earned on the account into the “Service Charge or “Interest Earned” fields, respectively. Enter the date that the amount was applied to the account from the adjacent “Date” drop-down to the right. If entering bank charges, select the expense account used to track these charges from the adjacent “Account” drop-down. If entering interest earned, select the income account used to track interest income from the adjacent “Account” drop-down.

Click “OK” to start to reconcile an account in QuickBooks Online and open the “Reconcile” page or click “Cancel” to close the window.