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Chapter 4. Invoicing and Collecting Income > Receiving Payments for Invoices

Receiving Payments for Invoices

You've received a check from a customer! Now you need to record the payment and indicate that the invoice has been paid. Doing so clears your accounts receivable account and places the funds in an undeposited funds holding area in your QuickBooks file until you deposit the funds. When you actually deposit the money, the undeposited funds account is cleared and cash is increased.

Receive Payments for Invoices

Select Receive Payments from the Customers menu.

Enter the customer's name

Enter the payment method.

Confirm the date on which the payment is received.

Enter the amount received.

Enter the check number or other applicable reference number.

Verify that the amounts are applied appropriately to the outstanding invoices by checking the invoices in order of how the payment will be applied.

Indicate whether the amount is to be deposited immediately or grouped with other undeposited funds.

Click a save option.


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