How to use QuickBooks Payments to receive payments

Introduction

This tutorial will guide you through using QuickBooks Payments to simplify the process of receiving payments from your customers via invoices. By following these steps, you’ll learn how to add payment options to your invoices, view your deposits, and manage your financial records effectively.

Step 1: Add a Payment Option to an Invoice

To enable your customers to pay online through QuickBooks Payments, follow these steps:

1. Open QuickBooks: Log into your QuickBooks account.
2. Create or Edit an Invoice:
   • Navigate to the "Sales" section and select "Invoices."
   • Click on "New Invoice" or choose an existing invoice to edit.
3. Add Payment Options:
   • Look for the "Payment options" section within the invoice.
   • Ensure that the box for "Online payments" is checked. This allows customers to pay using credit/debit cards or bank transfers.
   • You may also want to specify the payment methods you accept.
4. Save the Invoice: After adding the payment option, save the invoice. Your customer will now see the option to pay online when they receive the invoice.

Step 2: View Your Deposits

After you start receiving payments, it's important to track your deposits. Here’s how to do that:

1. Access the Dashboard: From your QuickBooks home screen, navigate to the "Dashboard."
2. Select "Reports":
   • Click on "Reports" from the left-hand menu.
   • Search for the "Transaction List by Date" report or any other relevant report that shows your income and deposits.
3. Filter Your Reports:
   • Set the date range for the transactions you want to review.
   • Look for entries categorized under QuickBooks Payments to see detailed information about your deposits.
4. Analyze Your Data: Review the report to ensure that all payments are accounted for and that your records are accurate.

Step 3: Set Up Instant Deposits

If you want to receive your money faster, consider setting up instant deposits. Here’s how:

1. Go to Account Settings:
   • Click on your profile icon and select "Account and Settings."
2. Navigate to the Payments Tab:
   • Find the "Payments" section and click on it.
3. Enable Instant Deposits:
   • Look for the option to enable instant deposits. Follow the prompts to set it up.
   • Note that there may be fees associated with instant deposits, so review the terms carefully.
4. Save Changes: Ensure you save any changes you make to your settings.

Conclusion

By following these steps, you can effectively use QuickBooks Payments to streamline your invoicing and payment collection process. Remember to add payment options to your invoices, keep track of your deposits, and consider setting up instant deposits for faster access to your funds. For further learning, explore QuickBooks' additional resources and tutorials to deepen your understanding of the platform.