How an Invoice Was Paid in QuickBooks Online
As a small business owner or accountant, keeping track of your finances can be a daunting task. QuickBooks Online is a popular accounting software that can help you manage your finances efficiently. One of the essential features of QuickBooks Online is the ability to track customer payments and identify how an invoice was paid. In this article, we will guide you through the process of identifying how an invoice was paid in QuickBooks Online.
Understanding Payment Statuses in QuickBooks Online
Before we dive into how to identify how an invoice was paid, let’s first understand payment statuses in QuickBooks Online. When you create an invoice in QuickBooks Online, it will have one of the following payment statuses:
- Unpaid: The invoice has not been paid yet.
- Partial: The invoice has been partially paid.
- Paid: The invoice has been paid in full.
- Overdue: The invoice is past due and has not been paid yet.
- Pending: The invoice is awaiting payment.
How to Identify How an Invoice Was Paid in QuickBooks Online
Identifying how an invoice was paid in QuickBooks Online is a straightforward process. Follow the steps below:
Step 1: Navigate to the Invoice
The first step is to navigate to the invoice you want to check. Go to the “Sales” tab and select “Invoices.”
Step 2: Check the Payment Status
Once you’ve opened the invoice, you can see the payment status of the invoice in the upper-right corner of the screen. If the invoice has been paid, you will see the word “PAID” in green letters.
Step 3: View Payment Details
To view the payment details, click on the invoice number. This will take you to the “Invoice details” page.
Step 4: Check the Payment Method
On the “Invoice details” page, scroll down to the “Payment” section. Here, you can see the payment method used to pay the invoice. If the invoice was paid using a credit card or bank transfer, you will see the last four digits of the card or bank account used for the payment.
Step 5: Check the Payment Date
In the “Payment” section, you can also see the date the payment was made. This information can help you reconcile your accounts and keep track of your cash flow.
Benefits of Identifying How an Invoice Was Paid in QuickBooks Online
Identifying how an invoice was paid in QuickBooks Online has several benefits:
- It helps you keep track of your accounts receivable and cash flow.
- It allows you to reconcile your accounts more efficiently.
- It helps you identify any discrepancies in your payments.
Common FAQs
Q1. Can I edit an invoice that has been paid?
A1. Yes, you can edit an invoice that has been paid, but you cannot change its payment status. The payment status will remain the same even if you make changes to the invoice.
Q2. How can I check if an invoice has been partially paid?
A2. To check if an invoice has been partially paid, you can follow the same steps as checking if an invoice has been paid. The payment status will show as “Partial” instead of “Paid.”
Q3. Can I delete an invoice that has been paid?
A3. No, you cannot delete an invoice that has been paid. You can only void the payment and delete the invoice.
Q4. Can I accept payments in currencies other than USD in QuickBooks Online?
A4. Yes, QuickBooks Online supports multiple currencies, and you can accept payments in various currencies.
Q5. Can I get a report of all my paid invoices?
Yes, you can get a report of all your paid invoices in QuickBooks Online. Follow the steps below:
- Go to the “Reports” tab.
- Select “Customers & Receivables.”
- Choose the “Transaction List by Customer” report.
- Set the date range for the report and filter it by the payment status “Paid.”
- Click “Run report” to generate the report.
This report will show you all the invoices that have been paid within the selected date range, along with the payment method and payment date.
Conclusion
Identifying how an invoice was paid in QuickBooks Online is a simple process that can help you manage your finances efficiently. By following the steps outlined in this article, you can easily check the payment status, payment method, and payment date for any invoice in QuickBooks Online
FAQs
Q1. Can I edit an invoice that has been paid?
A1. Yes, you can edit an invoice that has been paid, but you cannot change its payment status. The payment status will remain the same even if you make changes to the invoice.
Q2. How can I check if an invoice has been partially paid?
A2. To check if an invoice has been partially paid, you can follow the same steps as checking if an invoice has been paid. The payment status will show as “Partial” instead of “Paid.”
Q3. Can I delete an invoice that has been paid?
A3. No, you cannot delete an invoice that has been paid. You can only void the payment and delete the invoice.
Q4. Can I accept payments in currencies other than USD in QuickBooks Online?
A4. Yes, QuickBooks Online supports multiple currencies, and you can accept payments in various currencies.
Q5. Can I get a report of all my paid invoices?
A5. Yes, you can generate a report of all your paid invoices in QuickBooks Online by following the steps outlined in the article. Learn more