When to log a payment received into bank?

im new to quickfile
i havent yet added bank feeds but i will be doing asap

i have invoiced a client.
they paid a small cash deposit towards the job.
i looged this as a payment, and i sent this via emial.
the customer has now paid in full via a bank transfer.

do i now log a payment to that invoice for the remainder and mark it as paid via bank?

now assuming i had setup bank feeds,
so i log it manually as above,
and then when the bank feed shows up tag it again?
or do i wait for the bank feed, then tag it, and reduce the amount of things actually done in quickfile?

thanks

I’d suggest that you don’t log payments from the invoice side against a bank account that has an automated feed, but instead tag the transactions when they appear on the feed. Logging payments from an invoice will create pre-tagged transactions in the selected bank account, if you do that on an account with a feed you’ll end up with duplicate transactions and have to delete the untagged one.

So in your example you’d create the invoice manually, “log payment” for the cash deposit to your petty cash bank account, but for the balance you would wait until it shows up in the feed, then tag as “payment from a customer” - you’ll have to use the “pay down multiple invoices” route because the transaction won’t exactly match the invoice total.

great thanks for the help

This topic was automatically closed after 7 days. New replies are no longer allowed.