 QuickBooks Online 2023. Send and receive invoice with QuickBooks payment options. Get ready to earn the skills needed to boost your bank books on up with QuickBooks Online 2023. Support Accounting Instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course. Each course then organized in a logical reasonable fashion making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as excel practice problems PDF files and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Here we are in our QuickBooks Online test company file using the account and view as opposed to the business view you can toggle between the two views by going to the cog up top and switching the view down below. We're going to duplicate some tabs to put our major financial statement reports in like we do every time right click in the tab up top so we can duplicate it then as it's thinking right click in the tab up top and duplicating it again back to the tab to the middle as the one to the right is thinking reports on the left hand side we want the balance sheet one of the favorites one of the financial statement reports back to the tab to the right and we'll go to the reports on the left and this time open up the other default favorite the profit and loss otherwise known as the income statement close up the hamburger scrolling up let's change the range for the year of 2023 by going 010123 tapped well through 123 January to December 2023 and run it there it is tapping to the middle closing up the hamburger I'm going to change that range to the same that we did with the income statement 010123 tapped well through 123 January to December 2023 running it last time we tested out doing an invoice using our full process without the payment options being turned on well they were turned on but we acted like they weren't turned on and we did the full process in other words we had an invoice multiple invoices we recorded the receive payments into a clearing account and then make the group deposit now let's do the same thing with a couple invoices but we'll actually send out the invoices with the payment options and take a look at the email that would be received on the customer side of things and then once the payment is processed we'll see that hopefully the system can help us to automate some of the second steps in the process for the receive payment grouping the deposits and the deposit into our bank account so we're going to close this back out remember if I go back to the first tab that we turned on the the settings so we have our payment options by going to the settings on the left hand side and then within the settings we have the payments option will be in there and then we set up our quick books payments the result of that being if I go to a plus button up top and into an invoice notice we're experimenting here with the new invoice if you want to go to the other format of the older format of the invoice you can go to the old layout of the invoice at this point in time up here but the point being whether option we use either option we have the payment options in both of them so here's the payment options and now when someone receives the invoice they've got these nice capacities to pay us so let's populate something with these payment options now so if I add a customer I'm going to add another generic customer but this time I'm going to add an email address so that we can send it by email and attach these payment options for it so they can basically pay us as easily as possible so I'm going to go through this we'll say 27 let's make this 26 and then I'm going to go down here and say that the product is going to be I'm going to make very small invoices let's just make a 25 cent invoice here and there we have it and so we're going to send this out for 25 cents and obviously note that if you have a small dollar amount of invoices then then the interplay between the percent charge versus the amount per transaction becomes relevant so notice right here 25 cents with the 25 cent per transaction that charge is quite high whereas if you had a large transaction like a thousand dollars 25 cents I would be basically nothing let's make because of that charge let's bring it up to 75 cents I think we'll do let's do a 75 cent what all right then you've got your payment options on the left hand side now again remember you have the charges here so our basic strategy would be if I have a reoccurring customer that I have a good relationship with we would like to set up payment options between us that are optimal meaning we have the the fewest amount of charges and it's easiest as possible for us to facilitate the transactions those are the two main benefit of our payment options here right one one is that it's easy for us to receive the payment and hopefully facilitate the receive payment and the deposit and it gives the customer more easy ways to pay us the downside of course is going to be the fees related to it so if we can find an easy way for them to pay us that's the cheapest option that would be great for our reoccurring customers if we're using the payment methods the cheapest we might we might say hey look I'd like you to try to try to do a bank transfer if possible and we can turn off you know the other options just allowing the bank transfer that might be something that we want to do by default for all our customers to say hey we're going to give you this option to pay us in that format because that's the cheapest option or you might be able to say that you're going to turn everything on for new customers so that they can use whatever payment method is easiest for them to use which will probably facilitate higher turnaround and faster payments hopefully for the accounts receivable would be the tradeoff the tradeoff there all right so I'm going to turn them all on so we can check them out and then you've got this tips item here so you have the tips capacity so if you want to turn on tips manage tips settings charges here will apply to all future invoices so choose who you want to report your tips your team only you accept tips on all future invoices so you can toggle that on if you want to accept the tips on future invoices so I'll put on the tips and then everything else is basically the same this is an invoice it's going to increase the accounts receivable the other side is going to go to the revenue now we've got the view tabs up top now so here's the email view let's take a look at these so this is the email view your invoice is ready boom the email message you write will go here and then pay invoice and you've got your nice little payment options then on down below let's take a look at the pdf view here's the pdf view which is the you know default looking for the pdf and then the ways to pay down below which is nice and then the payer view so here's the payer view side of things so this is basically I believe when they actually select a payment option so if they once they get the email once they get the email it looks like this possibly they can look at it in pdf format once they get this email and say they're going to pay it then you you would think that has to take them to some landing page right which will in essence give them the payment options that you have selected now if I if I toggle this off for example let's toggle some of these payment options off you can see how they are disappearing here from the payment options so right so we'll toggle them back on there we go and then the tips here are here and so here's the tips down below so there's the tips payment option that you could see being toggled on and off on down below okay neat let's go back to the edit looks beautiful and this is going there so we're going to say save it and send it so now let's go ahead and review and send review and send okay so this is going to give us our review copy so it's going to give us our email from we've got us on or this is the email address it's going to go to send me a copy if you want to send us a copy subject new payment request so you could change the subject line and so forth if you wanted to possibly customize those default lines you can look in the settings to customizing email body once again you this is the message which is basically the default message from quickbooks if you want to meet be customizing these these messages you can go into your email settings and and put a different message if you so choose if you want something different so i'm going to go ahead and send it out send it out i'm going to do a couple uh in a similar fashion here just so we have a couple of these to be dealing with let's make another one and i'm going to tab through this and say it's going to go i'm going to go to the same customer you could test out of course multiple customers but i just want a few different payments i'll make this one for the hours and i'll make this one 50 cents 50 cents and same thing payment options everything's on i'll turn it let's turn the sales tips off this time and so there's that one and review and send so if i review and send it here's our review invoice is ready and everything looks movie b to the end so let's send it and let's do one more i'll do one more invoice and let's say this one same layout boom and the item here hours let's go this is going to be 55 cents and so there we have it we've got the print and download i get we could share a link so if i wanted to to share the link here's our link option now that we have an email address send your customer a link to their invoice skip the cluttered inbox and share a link instead your customer can download print or pay in an instant so you can copy the link down here if you so choose on the link so then i'm going to say on this side we've got save a new save and close so i think we want to do the review and send again review and send and i'm going to send that one out okay now here's the email here's the actual receiver side so your invoice is ready 75 cents balance do uh dear j customer we appreciate your business please find your invoice details here feel free to contact us if you have questions have a great day there's the message which again we could customize we've got the pain of the invoice and we added all these basically the payment options company name and and address and then you've got your your email so let's go ahead and pay it and that takes us to our landing page so we've got the 75 cents we can edit the amount if we want to pay something different possibly than the 75 cents and then you've got your waves of payment we've got the debit the credit the bank the paypal the venmo so obviously debit uh information gives us debit card uh fields credit information gives us our credit card field the banking is going to give us our you know routing number and whatnot the paypal is going to give us our uh paypal fields and then the venmo gives us our venmo fields then down below we've got the tips because on this particular one we added a tip so if i if i add the tip up top now we've got the invoice amount at 0.75 plus the five percent tip brings it on up so that's cool so that's the general idea so now we'll go through the payment of some of these invoices and and notice i'm on the landing page now for the payment and once we receive the payment then it's going to have to come back over here into quickbooks remembering that the next step is the receive payment and the deposit on our flowchart so once it's paid note the turnaround of the payment should be quite quick if we give them those payment options and whatnot and then when they pay it because everything is connected hopefully the receive payment and the batching and whatnot and taking it in and out of undeposited funds and put it into the bank account with the deposit will be more of an automated kind of process than what we did before in which case it still could be automated if you didn't have this system set up in some cases because again you might have an invoice that if you have larger invoices that are single dollar amounts that are going to tie out to a singular payment that's going to hit your bank account and the same dollar amount then you might send out the invoice they send you an electronic transfer of some kind as a form of payment through the invoice you give them but not with the quickbooks pay uh and then hopefully that would link up using your bank feeds with the bank feeds and the matching feature but sometimes that can get messed up with the fees that can mess things up which makes the amounts that tie out a little bit different and if you have that grouping issue it becomes a problem whereas here if for example those three invoices were paid and grouped together hopefully the system can see that and put it as receive payments in and out of the clearing account automatically and then deposit it as one lump sum the same amount of deposit that we would expect to see on our bank statement to make the bank reconciliation easy so that's one of the neat things about using uh this system so we'll check that out hopefully in future presentations