How to Record Payments from Customers in QuickBooks Premier

Recording customer payments promptly and accurately is key for healthy cash flow. QuickBooks Premier provides versatile tools to track customer payments whether they pay at the time of invoicing or on terms. Follow these best practices to ensure you enter customer payments correctly.

Record Payments Upon Invoicing

If a customer pays at the time of invoicing, simply select the payment method and enter the amount while creating the sales receipt or invoice. QuickBooks will automatically apply the payment to that transaction.

Payment methods like cash, check or credit card integrate seamlessly during invoicing. Record these real-time payments as they occur.

Enter Online Payments

For customers paying bills online through ACH or payment links, download transaction activity from your bank and import the payment records into QuickBooks.

Mapping the bank file columns to QuickBooks’ fields enables efficient batch payment entry rather than manual data entry.

Apply Payments to Invoiced Balances

For customers paying outstanding invoices on account, apply the payments to the open invoices in QuickBooks.

On the ‘Receive Payments’ screen:

- Select the open invoice(s) to apply the payment to
- Confirm the payment amount applies fully to the open balance
- Avoid overpayments unless the overage should be a credit

Proper payment application reduces invoicing errors.

Allow Customer Credits  

If a customer overpays or returns items, track the resulting credit balance in QuickBooks.  

On the ‘Receive Payments’ screen, select:

- Assign the credit to the customer's account
- The account will show negative open balance
- Apply to future invoices as needed

Credits provide flexibility for customers.

Accept Down Payments

If you receive deposits in advance for large orders, accept these down payments in QuickBooks to reduce open accounts receivable.

On the 'Receive Payments' screen:

- Enter the payment to the customer account 
- Classify as a deposit to track separately
- The deposit will deduct from final invoice balance

Prepayments improve cash flow.

Handle Bounced Checks

If you receive notice that a customer's check bounced, reverse the payment in QuickBooks to restore the invoice balance.

- Locate the original payment 
- Choose 'Edit' and convert to a bounced check
- The invoice will reopen so you can collect funds

Follow up promptly on any bounced checks.

Record Cash Register Sales

For retail companies, integrate your point-of-sale system with QuickBooks Premier to record cash register transactions. This will post payments to correct customer accounts.

Batch Enter Recurring Payments 

If customers make recurring payments for subscriptions or installments, use the ‘Recurring Transactions’ function to batch enter recurring payments instead of manual entry.

Establish Payments On-Time

Encourage customers to pay on time by clearly communicating due dates on invoices and sending reminders as needed. Reward on-time payment with discounts or bonus rewards points.

Send Statements

Email monthly statements to customers to provide an easy reference of open invoices and account status. Statements demonstrate professional follow-up.

By recording customer payments fully and accurately, you optimize accounts receivable performance. Leverage QuickBooks Premier’s versatile payment processing tools and automation to build efficiency. With real-time visibility into customer accounts, you can proactively follow up on overdue invoices. Mastering customer payment entry in QuickBooks enterprise support number maximizes cash flow and improves customer satisfaction.

In addition to recording individual customer payments, it is important to periodically reconcile overall customer accounts. This ensures any discrepancies get resolved in a timely manner.

Review all open transactions for each customer account at least monthly. Follow up on any past due invoices by sending statements, emails or making reminder calls. Investigate any credits on accounts to determine if they should still remain.

Look for inconsistencies between your accounts receivable records in QuickBooks Premier and your actual customer interactions. If you notice a payment is missing or an incorrect credit exists, research the reason for the discrepancy and make correcting entries as needed. 

Having open, transparent communication with customers facilitates the reconciliation process. Provide statements they can review and leverage customer portals where available.

The goal is to have your QuickBooks accounts receivable balances perfectly match real-world customer activities. This prevents small issues from accumulating into major problems. Develop consistent reconciliation habits to stay synchronized.