How to import batch invoices in quickbooks desktop

In this tutorial we will see whether how we can import multiple invoices in quickbooks desktop.

First let me show you the current balances of customers, and here you can see that all the customers have zero balances at this point in time and here in the chart of account, you can see that its also showing zero balance under Accounts Receivables.

Tutorial Instructions:    

So, to add multiple invoices, select batch enter transactions under Accountant menu and when you click on the “Transaction Type” field you can see that we can import different types of transactions and since this tutorial is about adding invoices, I am going to select “Invoices & Credit Memos” here and here are the invoices that I want to import into quickbooks and when you look closely, you will observe that we have fewer columns on the excel sheet than the quickbooks import window. So, to customize the columns, just click on “Customize Column” button, it will open a small pop up window where you can not-only add or remove the columns but also adjust the position of columns by moving up and down.

And here you can see that the columns on excel and quickbooks window are now aligned and we conveniently import our invoices by copying and pasting. Now just copy your data and paste it into quickbooks and since I haven’t added the terms on the excel file, I can just select the concerned term and then select copy down by right clicking on it, it will copy down that term to all transactions. Now, before importing, just see the invoices if you want to make any changes and make sure you have selected “Accounts Receivables” in this field and if you are fine with the data then just click on “Save Transactions” to import them into quickbooks, here its just informing you that the transactions will be saved into “Accounts Receivables” account, just click on “Yes” to save the invoices into quickbooks.

Now its letting you know that 10 transactions have been saved into quickbooks. Now, click on “OK” and close the import transactions window and let’s go to the customers center to see whether what changes has taken place there and here you can see that all the customers are now showing some balances and in the chart of accounts its also showing the total balance under “Accounts Receivables” account. And this is how you can import multiple single line invoices into quickbooks.

How to receive and deposit payments in quickbooks

In this tutorial, we will see whether how we can receive and deposit payments in quickbooks desktop.

Well in the last tutorial, we created our invoice and send it to our fictional customer named “kristie”. And upon receiving the invoice, she forwarded us a check for the due amount. Now we have received the check and need to record it in quickbooks desktop.

Tutorial Instructions:  

First let me show you the due amount, and here is the due amount we created our invoice against in the last tutorial and when we go to the chart of account, it also shows the exact balance under “Accounts Receivables”.

Now, just click on the receive payment on the home page to go to the Customer payment  window….here as soon as you will select your customer in the “Received From” field, it will show all the invoices concerning that customer and since we have just one at this point in time, its showing that. Now, select the method your customer choose to pay you with whether its cash, credit card, e-check or check etc. then write the check number.

Well, either you can write your amount in the “Payment amount” field or you can just select the invoice here and if you won’t write the amount in the “Payment amount” field it will automatically fill that field with the invoice or invoices amount you select.

Well lets say, your customer paid you a portion of that amount like 500 out of 700 then the quickbooks apply that amount to the invoice and will inform you about the remaining balance of the invoice here in this box Where you will have two options…like keep it as under-payment or just write off the balance which I don’t want. Anyhow, exactly the same way if the customer pays more than the invoice that it will show the credit balance in this box.

Anyhow, instead of writing under or over payment I am adding the full amount to keep it simple at this point in time and I will talk about those variation in future. Now change the date you received your payment on and since I am not giving any discount and/or credit on this purchase, I am not adding them to this invoice like I said these variations will be discussed in future tutorials.

Anyhow, here on the right side the quickbooks is giving you the summery of this payment whether what payment was applied and what was the discounts or credit etc on this invoice and since there was no discounts and credits have been provided on this invoice its showing that the full payment has been received.

Now Just write your memo if you want or just click on “Save and Close” button to record that payment. Now the payment has been recorded and here you can see that the quickbooks is informing that you have a check to deposit into your bank account. Now, go to your chart of account to see whether what changes has taken place there and here you can see that it has taken the amount from “Accounts Receivables” balance and placed it into the “Undeposited Funds” Account.

Well till this point what quickbooks considers is that you have received your payment but you still have to go to your bank to deposit it into your bank account and till that point it will keep showing the balance into “Undeposited funds” account.

So in a way “Undeposited funds” account is a clearing account that will keep showing the balance until the received amount hasn’t been deposited into your bank account. Well sometimes you don’t deposit your received payment checks, instead you endorse them to make your own payments to your vendors. Well in that senior that check never hits your bank account, in  that case, the transaction will be treated differently which is an advance level topic and we will cover that in future tutorials.

 

Now, lets deposit the check into the bank account, Just click on “Record Deposit” under banking section it will open the record deposit window alongwith the window of all the checks you need to deposit into your bank account. Well since I have only one at this point in time, its showing that.

Anyhow, lets say when you open the “Record deposit” window it won’t open this small window with it then just click on “Payments” it will open that window and then just select the ones you want to deposit and click on OK. It will add the selected ones here and then change your bank account in the “Deposit to” field and date you made that deposit on moreover you can write some memo here if you want and here you can see that its taking the amount from “Undeposited Funds” and putting it into our bank account.

And since I am not taking any cash back I am keeping these fields empty and then just click on “Save and Close” button to record that deposit. Now, our deposit has been recorded and lets go the chart of account to see the changes and here you can see that the amount from Undeposited funds has been transferred to our bank account.

And when you will double click on it, it will open the bank register where you will be able to see the transaction and the total balance of that bank account and when you will go to the customer center to see the “Kristie’s” balance, it will show the “zero” balance as the check against the invoice has not-only been received but-also cleared.

Now our first payment has been received and deposited into our bank account.

How to create invoice in quickbooks desktop

In this tutorial, we will see whether how we can create our first invoice in quickbooks desktop.

 

So, to write an invoice, click on “Create Invoice”, it will open the “create invoice” window and first thing need to do, is to select your customer name in the “Customer Job” field and as soon as we selected a customer it also filled the bill to address field.

Tutorial Instructions:

Anyhow, we have many invoice templates available which we can select from according to our needs by clicking on this “Template” dropdown field. Moreover, we can even create our own invoice template and can use that for our business but at this point in time, I am perfectly fine with the provided ones and since I am going to create a services invoice, I going to use “Intuit Service invoice” template,  

Now, select a service item that has been ordered by our fictional customer named Kristie, here you can see, as soon as I have selected an item, the remaining fields have been automatically filled with the default info we provided at the time of adding item list except the quantity and lets say, Kristie, ordered two different 3d bed room designs.

Well, if you want, you sure can change the rate and description according to your need. Anyhow, just change the date, add P.O Number and Payment term, moreover, you can add a friendly customer message and Memo if needed and then click on “Save & Close” if you don’t want to create more invoices and here its just letting you know that the added transaction is more then 90 days old which we know, and just click on yes and here its letting you know that you have changed the payment terms too, anyhow, just click on yes to create your invoice.

Now your first invoice has been created and Just go to the customer center and here you can see that there is a balance showing next to our fictional customer named kriestie. Moreover, we can see all the transactions here we have done with this customer, at this point in time, nothing is being shown here and that’s just because the transaction I have added is way old, just change the filters here and you will be able to see that transaction.

Now just double click on it to open it and here you can see that its saying “Past Due” and that’s just because its a way old invoice, Anyhow, you can see its preview by clicking on the “Print” dropdown option and can save it as PDF to email it to your customer later, or you can email it to your customer right away by selecting email option, and you can attach some concerned documents to this invoice too by clicking on this “attach file option” and when we go to the Chart of account, it also shows a balance under “Accounts Receivables” Accounts Receivables is actually an industry term which is used for those from whom we the business-owners have to receive the money in returns of the products and services we sold.

Anyhow, our first invoice has been created.