if you transfer money to youself what should you put on quickbooks

There are a diversity of means to record or process a credit card payment so that it will show upwards in your QuickBooks Online.  This article volition discuss using Sales Receipt, Receive Payment and Banking concern Eolith to record client payments. It volition likewise discuss how payments received from customers using the Intuit Payment Network service will get entered into QuickBooks Online.

Process a Credit Card Payment through the Sales Receipt Option

A sales receipt is useful when in that location is no invoice for the customer in QuickBooks and yous don't want to create one.

1. Choose "+" icon > Sales Receipt.
2. Enter the name of the Customer.
3. Enter the Payment Method.   If the client is paying by credit card, an option to Enter Credit Carte du jour Details will pop upwards.  Click this to enter the customer's credit card information.

   

4. Choose to either Deposit to your checking business relationship directly or to Undeposited funds, which volition put the payment in the Banking concern Deposit screen to be recorded every bit a deposit later.
5. Fill in the details for the sale including Product/Service, Quantity, Rate and Amount.
6. Click Save

Process a Credit Carte du jour Payment through the Receive Payment Choice

1. Choose "+" icon > Receive Payment.
2. Enter the proper noun of the Client.
3. Enter the Amount, Payment Method, and the Reference #.  If recording a payment by ACH or some other straight method you tin choose + Add New from the drib-down. Create a name for  the method (ACH, Transfer, etc).

   

4. Brand sure that the right invoice you lot want to apply the payment to is checked in the Outstanding Transactions window. Yous can change which invoices are checked if necessary.
5. Choose to either Deposit to your checking business relationship straight or to Undeposited funds, which volition put it in the Bank Eolith screen to be recorded as a eolith later.
6. Click Salvage.

Recording a Eolith of Entries in Undeposited Funds

1. Choose "+" icon > Bank Deposit.
2. Choose the depository financial institution the deposit was sent to.
3. In the Select Existing Payments section, put a checkmark side by side to the payments that y'all want to group together every bit one deposit.
4. Brand sure the total is correct.
5. If additional funds were combined with the funds from Undeposited Funds, record the boosted items in Add together New Deposits.  You will need the Received From, Account, Payment Method and Corporeality.
6. Once the Total matches the amount of the deposit that went to the bank, click Save.

Partial Payments

Even if a client only pays function of their balance owed, QuickBooks Online will go along track of the open rest due on each invoice.  Y'all can come across what is owed by each customer individually past clicking on the Customer Proper noun from the Customer Listing.  Open a specific invoice by clicking on information technology and looking at the Residuum Due line near the elevation right of the page.

Additionally, you tin can meet all of your open up invoices with their current balances by running the Client Balance Detail report from the Reports menu.

Joint Payments

If y'all have a situation where one payment needs to be applied to invoices recorded under ii unlike customers, you can book the payment in the following style:

1. Choose "+" icon > Receive Payment.
2. Enter the name of the first Customer.
3. Enter the Amount, Payment Method, and the Reference #.   Make sure you note the check number in the Reference # field.
4. Brand an entry in the Memo field that this payment is included with payment from some other client.
5. Make sure that the right invoice is checked. You tin can change which invoice is checked if necessary.
6. Choose to Deposit To: Undeposited funds, which will put it in the Deposits screen to batch together with the other payment.
7. Click on Salve.

Repeat these steps for the second customer'southward invoice.  Make certain the check number is the same  every bit the starting time customer.  Side by side, group the payments so that they bear witness as 1 deposit on the annals:

1. Choose "+" icon > Banking concern Deposit.
2. In the Select Existing Payments section, put a checkmark side by side to the payments that you want to grouping together.
3. Make sure the total is correct.
4. Click Save.

Intuit Payment Network

If you're using the Intuit Payment Network (IPN) to invoice customers with a pay now link, QuickBooks Online will automatically update when the payment is received.  For example: you e-mail your customer an invoice for $twenty. Your customer responds with an online payment for $20 from a bank business relationship. Here'due south what will happen in QuickBooks Online:

• A Receive Payment transaction for $xx volition exist recorded and automatically applied to the invoice.  "IPN" will appear in the Payment method field.
• A deposit for $19.50 will announced in the bank business relationship you lot define.  Your customer pays no fees to transport you an online payment.
• The $.fifty flat fee that Intuit Payment Network charges for payments received from banking concern accounts is coded to the account Bank Charges.

Note: Sometimes the Receive Payment transaction and the deposit transaction are entered in QuickBooks Online on unlike days.

The benefit of having transactions automatically entered for you lot when you utilize the IPN is really nice.  Non only will you salve yourself time just your customers as well.  They will appreciate the ease of being able to pay you electronically.

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Source: https://www.enixassociates.com/articles/quickbooks-online-how-record-and-process-credit-card-payments

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