I have a bank transfer from our sister company, I have open invoices that I need to apply this money to. The transfer has cleared as a bank deposit on bank feeds. Do I delete the deposit from the register and then go receive payments against the money? What are the steps to receiving this correctly
Hi Brenda, in order to apply payments to open invoices you must use the receive payments window. Therefore, I would delete the deposit and go into the receive payments window and mark the invoices that the wire transfer is for. You can also indicate the payment method as a wire. Be sure to put the deposit date so that it will match up with your bank statement. This will make it easier to reconcile QuickBooks with your bank account.
We have a step by step video tutorial on how to receive payments, check it out:https://fitsmallbusiness.com/how-to-receive-payments-in-quickbooks-online/.
All the Best-
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