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QuickBooks Tips Blog

QuickBooks Tip: How to Send and Receive Payments for Invoices

Posted by Alex Viau on Jun 21, 2013 7:15:00 AM

The invoicing function in QuickBooks I frequently find misused, ignored, or the process is just never followed through to the end. Misusing the invoicing function and the items lists
associated with it can lead to a disaster in your chart of accounts. Ignoring the invoice function can lead to a complete misunderstanding of what you're actually due from your customers. And not following the process can lead to a massively inflated accounts receivable when you may have already recognized the checks from your customers as income. However following the basic invoicing flow as will follow can simplify your day to day and year end. For the example we'll say we're a web designer named Tim who just bought QuickBooks and needs to invoice his customer for his first job which was priced out to be $1,000.

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Topics: QuickBooks Tips, QuickBooks Tips Blog, Accounts Receivable, QuickBooks Invoicing, quickbooks AR