Hi Hope all is well, can I ask a question, if you have banking feeds set up, and you receive a payment from a customer, If you click the OK button in Xero, does that mark the invoice as paid in xero, Or do you have to go the the invoice and mannualy mark the invoice as paid.
Also the same with payments, do you wait to see the payment going out in the bank rec, or manually make the invoice as paid
Hi Gary, if you navigate to the Sales tab and click on “Awaiting payments” it will bring up a list of unpaid customer invoices. Select the invoice your customer is paying for, display the invoice and enter the payment details at the bottom. When you save that payment, the invoice will be marked as paid automatically, your accounts receivable balance will be reduced and your cash account (checking) will increase.
I’m not sure if you are aware, but we have a step by step video tutorial that walks you through this process. I have included the link here: https://fitsmallbusiness.com/receive-payment-xero-course/
All the Best-
Crystalynn Shelton, CPA