Receive Payments in QuickBooks Online Accounting Software

This accounting software gives you options for how you are paid.

Looking for an Accounting Software?

A good online accounting software package is one that allows you to do your job properly and efficiently. One of the most important components is a way to automatically record cash payments from customers and clients. After all, getting money is a key factor in staying in business.

QuickBooks Online Accounting Software Makes Receiving Payments Easy

QuickBooks Online allows you to fully integrate your cash receipts system to record payments on your behalf.

When it comes to recording payments from customers and clients, QuickBooks Online offers three different options. It’s that flexibility that makes QuickBooks Online a premiere online accounting software. Let’s take a look at these three options closely to help identify which option or options best suit your needs.

 

Invoice Payment Option

Invoicing is a useful tool for a business owner if your customer wants to pay at a later date. You can generate invoices automatically with your QuickBooks Online account.

Online payment options give your customer the convenience of paying from their personal device. They can skip writing, mailing and/or delivering a check. Online payments are also beneficial to you because they usually result in quicker payments by customers.

Procedurally, this option is as easy as learning your ABCs. Once you have confirmed payment with your bank, you will go into the invoicing system. Then locate the previous invoice or invoices you were given payment for. You will click on the “received payment” field at the end of the invoice row recording the payment. When looking for the invoice, you can use the filter option that will let you quickly search for the right invoice. You just type the invoice number, customer name/ID, payment status, etc.

It’s that easy. Also, you will find that customers and clients typically pay invoices quicker when they can do so online.

 

Point of Sale Payment Option

If you run your small business as a “cash on demand” or point of sale business, you’ll charge customers for your goods or services immediately. You will want the ability to issue a sales receipt to your customers or clients.

QuickBooks Online makes the sales receipt process easy. To prepare a sales receipt for payments, you will start by locating the “Sales Receipt” function on your computer screen. Then click the +New button. A blank sales receipt form will pop up. Depending on how the business operates and what information you feel is important for bookkeeping purposes, you can customize the input screen. If you have questions regarding how to customize that window, we are always happy to help.

Once you have your form on the screen, you will fill out the pertinent information. Make sure to review it, save it, and then you can print or email the sales receipt to your customers.

 

Mobile Payment Option

One of the advantages of using an online accounting software is it can come with access through a mobile app. QuickBooks Online is compatible with most mobile operating systems, including Android and iOS.

If you prefer to run your point-of-sale transactions through your mobile app, you’ll find the process to be similar to the standard point of sale payment option listed above.

Again, you would start by locating the Sales Receipt function on your mobile app. The screen that will appear is slightly different than the standard option, but it can also be customized. From the blank input screen, you will input the information, review it, save it, and send it to the customer via email or another mobile option.

Using a Credit Card Reader

If you use a credit or debit card reader, you can integrate the system with your QuickBooks Online account. This will make it so that the sales receipt is automatically recorded when you swipe the customer’s card. This is bookkeeping made simple.

 

Thinking About QuickBooks Online for your Accounting Software?

If you need help navigating this QuickBooks function or setting up your system, please do not hesitate to reach out to us. We are more than happy to help you get things up and running. Visit, QBO Services – The Barklee Institute to learn more about our QuickBooks Online Setup services.

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