What account do I credit when entering cash payments?
What account do I credit when entering cash payments?
To enter cash payments in QuickBooks, you can create a bank deposit or receive a payment in the invoice. Refer to these steps to get this done right away.
Create a Bank deposit:
- Go to the +New menu and select Bank Deposit.
- In the Account dropdown, choose the account you want to put the money into.
- From the Add funds to this deposit field, enter the info of the cash payment.
- Hit Save and close when done.
To receive a payment:
- Select the +New button and click Receive payment.
- Choose the customer name.
- Pick Cash as the Payment method.
- Click the invoice under the Outstanding Transactions section.
- Hit Save and close one finished.
Also, to get a list of all payments and invoices for each of your customers, you may pull up the Invoices and Received Payments Report.
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