Aug 11 ā¢ #ļøā£ News
š” QBO Tip: How Invoices & Payments Work š”
If you send invoices through QuickBooks Online, thereās a two-step process to make sure your books (and reports!) stay accurate:
1ļøā£ Record the Invoice This shows the amount your customer owes you and increases your Accounts Receivable (A/R) balance. Think of it as āmoney promisedā but not yet in your bank.
2ļøā£ Record the Payment When the customer pays, you record that payment against the same invoice. This reduces your A/R balance and increases your bank account balance in QBO.
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Why it matters: If you skip step 1 or 2, your A/R account will be wrongāand your Balance Sheet might not match reality. This can make it look like customers owe you more (or less!) than they really do.
š Keeping invoices + payments recorded correctly = clean reports, confident decisions, and no āwhere did that money go?ā moments.
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š” QBO Tip: How Invoices & Payments Work š”
