Everytime that a customer makes a payment, you must be able to record those payments in order to track how your business is going and if your customers are up to date in making these payments and if follow up or demands should be made to make them pay.
In Quickbooks, receiving payments from customers are made easy by choosing a command on the Customers menu to record their payment. In order to do this are the following steps:
On the Menu choose Customers, then click on the Receive Payments. This will display the Receive Payments Window. From here you will a box “Received From” which asks you to identify the customer paying you. Enter the date, amount, reference number, payment method, credit card number and its expiration date on the boxes provided. Then, on the Receive Payments window again, choose the invoice the customer pays by clicking on the list.
Enter any credit memos to the invoices as you apply the payment and click on the Discounts and Credits button. Apply the credit on the open invoice and click Done. On this window as well, click on the “Deposit To” drop down list where you can record that you would want to batch the payment for later deposit. If you are on online payment click the “Get Online Payment” button to receive online payment information for your customer. Click on Save and Close to save your payment information.