Receiving Payments in QuickBooks Online

Receiving Payments in QuickBooks Online

It’s perhaps one of your favorite activities in QuickBooks Online: recording money that comes in.  Are you doing it right?

Your days of matching paper checks to paper invoices are over. QuickBooks Online excels at keeping your accounts receivable organized. No more digging through piles of forms and hand-stamping PAID on your customer bills and statements. No more trying to write small enough in your register so you can identify the origins of deposits.

You do, though, need to know how to get to payment screens—there are multiple ways—and which form to complete for each remittance. Here are the three types you’ll deal with most often.

Receive payment on an invoice

When payment comes in on an invoice, you can get to the right screens in any of several ways.

Click the + (plus) sign in the upper right corner. Under Customers, select Receive Payment. In the upper left of the window that opens, select the correct customer by clicking the down arrow at the end of that field to open the list

Make sure the Payment date is correct. Open the Payment method list and select from Cash, Check, Credit card, etc. If there’s a Reference no., like a check number, enter it in that field. The default value for Deposit to is Undeposited Funds. Leave that active, and enter the Amount received in that field.

When you select a customer’s name in the Receive Payment window, a list of unpaid invoices will appear at the bottom.

If the customer has multiple outstanding invoices, QuickBooks Online will put a checkmark in front of the oldest one(s). You can change this if you need to by clicking to uncheck the box and click in the box in front of the correct one.

Tip: If you want to isolate invoices from a specific date range, click the arrow next to Filter.

When you’ve specified where the payment(s) will go, add a memo and/or attachment if you’d like and select either Save and Close or Save and New in the lower right corner.

You can also record payments on invoices from other screens in QuickBooks Online. For example, click Transactions in the left vertical navigation bar and select Sales to open the list of sales transactions. At the far right end of every line that contains an unpaid invoice, you’ll see a link to Receive payment. Click it, and the payment screen will open with the name and amount already filled in. Another option: With an invoice open, click Receive payment in the upper right corner.

Receive payment at the time of the sale

When a customer pays you immediately for products and/or services, there’s no need to create an invoice. You’d instead use a sales receipt. Click the + sign in the upper right and select Sales Receipt under Customers.

Tip: If you click the small diagonal arrow when it appears next to an option, the site will open the screen in a separate window.

Fill in the fields at the top like you did on the Receive Payments screen.

Use a sales receipt in QuickBooks Online if you receive payment at the same time you provide a product or service.

Complete the lower half of the sales receipt by selecting the products and/or services sold from the drop-down lists. Then click the links at the bottom of the screen to print or email the receipt.

Receive a down payment or retainer

If a customer gives you money as part of a down payment or a retainer for work to be done or products to be delivered, you can enter it on the Receive Payment screen without connecting it to an invoice. If you’re prepared to create a record of the specific charges, though, you can use an invoice form and categorize the payment as a deposit. There are other ways to receive payments from customers in QuickBooks Online, like creating credit memos or using a mobile payment device. However you do it, your bookkeeping needs to be precise, or you’ll run into problems down the road. If this is a topic that creates some uncertainty, we can go over the whole concept with you and outline your options. You work too hard for your money to risk applying it incorrectly –or worse, losing it to an accounting error.

There are other ways to receive payments from customers in QuickBooks Online, like creating credit memos or using a mobile payment device. However you do it, your bookkeeping needs to be precise, or you’ll run into problems down the road. If this is a topic that creates some uncertainty, we can go over the whole concept with you and outline your options. You work too hard for your money to risk applying it incorrectly –or worse, losing it to an accounting error.

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Hire a Beauty Salon Bookkeeping Team to Manage Your Salon Business

Hire a Beauty Salon Bookkeeping Team to Manage Your Salon Business

Hiring a Beauty Salon Bookkeeping team to manage your bookkeeping, payroll, and tax preparation for your Salon business will give you more time to work on your salon business.  Running a successful salon requires more than pampering your customers.  It also requires careful financial planning, guidance, management, and tax strategies to reach a successful profitability.

Every small business owner questions outsourcing certain aspects of their business.  As any business owner, a salon owner best spends their time directly with their customers.  When unable to manage all of the financial responsibilities of their day-to-day business.  It’s obviously a good time to outsource the bookkeeping process.

Why Hiring a Beauty Salon Bookkeeping Team is the Right Choice?

Whatever type of salon you own, a bookkeeper can help you support your salon business by handling your bookkeeping tasks and back office procedures.  A bookkeeper will help you manage your salon books:

  • Provide a full review of your Salon business and manage your books.
  • Setup stylist and other employees status.
  • Determine percentages of sales and booth rental rates for independent contractors.
  • Setup your tax and payroll obligations.
  • Provide monthly finance reporting – balance sheets, profit and loss statements, bank reconciliation.
  • Help you determine between a cash method or accrual method of accounting for your business structure.
  • Support your expansion goals and help you secure financing.
  • Provide small business advice – including tax and audit support.

We will work to Maximize the profitability of your Salon Business based on the services, the products your salon business sells.

If you’re looking for help managing your books, we provide salon business cloud bookkeeping programs to match any salon or franchise salon business requirement.

Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.

~Tilman J. Fertitta

Your main goal is to get clients in the door and provide them with a great experience.  Let STAC Bizness Solutions help you with your Salon Bookkeeping obligations.  If you’re looking for help managing your books, we provide cloud bookkeeping services customized to match your business needs.  Here is more information on our salon business bookkeeping services.


Looking for a QuickBooks Expert?

QuickBooks ProAdvisor Houston Tx

Working with a QuickBooks ProAdvisor is the best way to learn how to use QuickBooks to help your business grow and flourish. You won’t find a better way to get the support you need anywhere else.

As a small business owner, we realize that you may not have the budget to hire a QuickBooks expert. If you’re looking for a more economical way to get set up on QuickBooks, we provide cloud bookkeeping programs to match any business requirement. Here are our Quickbooks ServicesQuickBooks SetupQuickBooks Training, and QuickTune-up.

You can feel confident in knowing that our STAC Bizness Solutions team are Certified QuickBooks ProAdvisors. Meet Our Team.

If you would like to learn about all the benefits that STAC offers, just give us a call and we’ll provide you all the details. Call us at (844) 424-9637.

Hire a QuickBooks ProAdvisor

To schedule an initial consultation with us, please click the button below.

How to Find a QuickBooks ProAdvisor Perfect for Your Business

How to Find a QuickBooks ProAdvisor Perfect for Your Business

QuickBooks ProAdvisor Houston TxSo you need to know how to find a QuickBooks ProAdvisor. First of all, let’s learn the top things to know so you can choose the right one for your company.

A QuickBooks ProAdvisors is a bookkeeper, accountant, or CPA who has proven to be trained and certified in QuickBooks products by passing a rigorous training process developed by Intuit, the company that developed QuickBooks.  There are a number of reasons why you may want to hire a QuickBooks ProAdvisor, whether it’s setting up your books, training you and your staff, or managing the day to day bookkeeping.

Benefits of Hiring a QuickBooks ProAdvisor?

  • Experts in QuickBooks Desktop and Online Software, QuickBooks Setup, QuickBooks Training, and Management.
  • QuickBooks ProAdvisors are the first to be notified of all product updates, alerts, and discounts.
  • QuickBooks ProAdvisors have access to a dedicated customer service team within the Intuit support team.

Advisors implement their own policies. One might talk with you briefly before establishing a relationship, but the program is designed for you to develop a long-term connection. QuickBooks ProAdvisors have access to a tremendous variety of resources to serve clients, and it’s best to get together and create a plan for using them.

Still not sure about converting to QuickBooks? Read Why use QuickBooks?

How to Find a QuickBooks ProAdvisor?

Working with a QuickBooks ProAdvisor is the best way to learn how to use QuickBooks to help your business grow and flourish. You won’t find a better way to get the support you need anywhere else.

As a small business owner, we realize that you may not have the budget to hire a QuickBooks expert. If you’re looking for a more economical way to get set up on QuickBooks, we provide cloud bookkeeping programs to match any business requirement. Here are our Quickbooks ServicesQuickBooks SetupQuickBooks Training, and QuickTune-up.

You can feel confident in knowing that our STAC Bizness Solutions team are Certified QuickBooks ProAdvisors. Meet Our Team.

 

If you would like to learn about all the benefits that STAC offers, just give us a call and we’ll provide you all the details. Call us at (844) 424-9637.

Hire a QuickBooks ProAdvisor

To schedule an initial consultation with us, please click the button below.

Cloud Bookkeeping Is The Best Solution Today

Cloud Bookkeeping Is The Best Solution Today

Most people refer to the term “Cloud Bookkeeping” as Online bookkeeping or web-based bookkeeping, albeit with a few key differences. Today, we’re going to take a look at what exactly the cloud bookkeeping paradigm entails and why you too should be getting on the bandwagon. For starters, cloud bookkeeping software can be accessed via the internet, irrespective of your location. The greatest advantage of this software is the flexibility to save and store your company’s accounts securely on the “cloud”. The tech allows access all your bookkeeping details from anywhere around the globe as long as you have access to a reliable internet connection and a smart device with you.

Not only does cloud bookkeeping greatly facilitate access, but also helps to keep you up to date with the latest on the business market. It helps to set your company to a path that is all about getting optimal profit. As the title says, let’s take a look at why cloud bookkeeping is the way to go, although we’ve already gone on quite a bit about that.

EASE OF ACCESS

There is no doubt that the greatest benefit of cloud bookkeeping is the ease of access. Yes, online bookkeeping is all about using the World Wide Web! With this amazing software, you and your employees can get easy access to all the business and financial records over the internet and at any time. This gives you the flexibility to manage bookkeeping at any time without being stuck at one destination. Now you can easily manage your financial records while traveling and while attending to major business deals.

MUCH CHEAPER

Yes, this is true! Cloud bookkeeping can help you save money, irrespective of the size and scale of your business. It truly is the most cost-efficient way to go! The first plus point is that you don’t need to pay extra on the cost of hiring a bookkeeper. Since all you details and important business transactions will remain on the cloud, you can easily update them and keep a check on all your records.

It also helps you save on IT expenses. With this impressive tech and the many solutions available today, you don’t have to upgrade your office equipment – every piece of bookkeeping information is secure on the cloud. All the records automatically back up over the internet and you don’t need to spend any money on frequent software upgrades.

INCREASES YOUR PROFIT

What about all the invoices you forgot to send and never followed up on? You might have gotten the money, but your bank shows that your financial status is touching the red light. Maybe you weren’t able to pay some bills on the right time and now you have excessive penalty fees charges? This is when cloud bookkeeping comes in as the savior! It tells you all about the invoices that you may have missed out and helps you keep a record of all the payments that you may have omitted. You can efficiently follow all your records and turn your losses in to bigger profits!

Cloud bookkeeping is the new evolving technology that has incredible features that you can enjoy over the cloud. Now you can secure all your financial records and take your business to greater heights of success!

Hire a QuickBooks ProAdvisor

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