How should payments received from customers that are downloaded from the bank be handled since payment has to be applied toward the invoice before deposited into the bank?
Great question. When payments are downloaded into QuickBooks from your bank, QuickBooks will try to locate an open invoice by matching the customer name, amount and/or date. If it can’t find a match, you can actually click on the transaction and manually match it up with the right invoice. I created a video tutorial on how to manage downloaded banking transactions and I’ve included the link below:
Best of luck,
Crystalynn Shelton, CPA
315 Madison Avenue, 24th Floor
New York, NY 10017
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