To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.

Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm. 

We’ll use the +New button to find Jeff’s invoice.

Click the "+New" button, then select "Receive payment".

In the Customer field, select "Jeff's Jalopies". 

*His outstanding transaction will appear below.*

In the Payment method field, select "Check".

If you knew the check number, you could enter it in the Reference no. field.

Ensure that "Undeposited Funds" is selected in the Deposit to field.

Under Outstanding Transactions, click the "checkbox" to indicate that the invoice is being paid.

Outstanding Transactions
 Filter   All
	
DESCRIPTION
	
DUE DATE
	
ORIGINAL AMOUNT
	
OPEN BALANCE
	
PAYMENT
	Invoice # 1022 (10/11/2023)	11/10/2023	81.00	81.00	
< FirstPrevious1-1 of 1NextLast >
Amount to Apply
	
$81.00
	

Amount to Credit
	
$0.00
Clear Payment
Memo

To find Kathy’s invoice, we’ll use the Sales Center.

From the left navigation bar, hover over Sales, then select "Invoices".

Find Kathy’s invoice on the list, then click "Receive Payment" in the Action column.

Repeat Steps 4 - 6 to record the payment.

Now, let’s deposit those two checks into the Checking account.

Click the "+New" button, then select "Bank deposit".

Click the "checkbox" for each of the two payment transactions.

Select the payments included in this deposit
	
RECEIVED FROM 
	
DATE
	
TYPE
	
PAYMENT METHOD
	
MEMO
	
REF NO.
	
AMOUNT
	Cool Cars	11/02/2023	Payment	
			1,675.52
	Freeman Sporting Goods:0969 Ocean View Road	11/02/2023	Payment	
			387.00
	Jeff's Jalopies	11/28/2023	Payment	
			81.00
	Kookies by Kathy	11/28/2023	Payment	
			75.00
1-4 of 4
«‹1 ›»
Select all Clear all 
Total 2218.52
Selected Payments Total 156.00
Add funds to this deposit
	
#
	
RECEIVED FROM
	
ACCOUNT
	
DESCRIPTION
	
PAYMENT METHOD
	
REF NO.
	
AMOUNT
	
	1		
	
		
		
	2		
	
		
		
Add lines Clear all lines 
 Track returns for customers
Memo
	
Other funds total $0.00

Cash back goes to
 
Cash back memo
 
Cash back amount

Total $156.00

QuickBooks

QuickBooks is a widely-used accounting software developed by Intuit, designed to simplify financial management for businesses of all sizes. It provides a user-friendly platform for tasks like invoicing, expense tracking, payroll processing, and generating financial reports. QuickBooks automates many financial processes, making it easier for businesses to monitor their financial health, prepare taxes, and manage cash flow. With its various versions and integrations, QuickBooks caters to the needs of freelancers, small businesses, and larger enterprises, offering a flexible and comprehensive solution for efficient accounting and financial management.

app.qbo.intuit.com

fastandeasyqbo.com

Scenario: Great news! You just received two checks in the mail. One is from Jeff’s Jalopies, and the other is from Kookies by Kathy. Both are paying off their outstanding bills in full. You now need to mark their invoices as paid and deposit the money in the bank.

In this exercise, you are going to practice two different ways to find the invoice. This is just for demonstration purposes. You can record a payment either way.

2.10 Receiving & Depositing a Payment

+ New Button

Sales Center