 QuickBooks Online 2023 QuickBooks Payment Links Get ready to earn the skills 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 view as opposed to the business view You can toggle between the two views by going to the cog up top switching the view down below duplicating some tabs to put our financial statement reports in like we do every time Right clicking the tab up top to do so duplicate that is right clicking the duplicated tab to do so again duplicate that is tapping to the left as the one to the right is thinking reports on the left hand side We want to open up the balance sheet as it's thinking tabbing to the right reports on the left this time the profit and the loss to P and the L the income statement close on the hamburger Just double checking the range up top from 010123 tab 123123 tab and run it Let's tab to the left close up the hamburger same range up top the range it needs to be the same 010123 tab 123123 and run it to refresh it That's the setup process that we do every time back to the tab to the left we turned on our QuickBooks payments we did so by going to the cog up top settings and then going to the payments Setting up our payments which allows us when we have a new item up top we typically think of the payments being connected to the invoices Because it gives us those nice payment options allowing a customer to be selecting these payment options the ones that they prefer although the downside being the fees related to the payment options Now we might have a situation where we want to send like a link to them because a link could be useful that we don't even have to give an email to their email We might send it to their phone or something like that or you know give them the link in some other way shape or form now we saw when you made an invoice that there's a way to get a link So if I was to make an invoice for example pour a lamp low we're going to say let's say we had an invoice for like 0.74 cents And then if I hit the drop down here I can share the link so this is one way that you can get a link send your customer link to their invoice This will then give them a link you know to an actual invoice as opposed to the other link format we can make which will basically make like a sales receipt type of form So you can skip the clutter of inbox and share an invoice link instead your customer can download print or pay it in an instant Movie B to the end I'm going to close that out that's one way you can do it you can copy the link down here and put that where you want to put it But the invoice note is going to make an increase to the accounts receivable what if you want to skip that all together you just want to have a link that's going to be a sales receipt So in other words if I close this out and I look at my little forms over here you'll recall that this is a flow chart from the from the desktop view version But I'm just looking at the flow chart which is basically the same for pretty much all accounting systems and whatnot so If you had this the sales cycle the most simplified sales cycle you'll remember is if you had gig work if you had gig work or something And you were just getting paid by like YouTube and they just deposit money into your account every once in a while Then when it comes through with the bank feeds you might just record the bank deposit as revenue and you don't have to send out an invoice or a sales receipt typically right But if you're in a situation where you have to send them an invoice doing the work first like a bookkeeper or a lawyer or many different kind of service companies Then you're going to make the invoice and send it to them by email oftentimes these days which we looked at in a prior presentation Or you might have a situation where you do work at the same time classically you would think of this as like a cash register situation Where you're in a store and someone comes up and wants to pay once the payment at that point in time So in this case we don't have to deal with accounts receivable But it's not quite as easy as them just automatically paying us like a payment platform like YouTube just depositing money into the bank accounts We still have to facilitate the transaction with with a sales receipt So one way we can we can do this with our payments system here is we could we could have options where we have the automated You know payment processing systems like a cash register type of situations with apps on the phones and that kind of stuff which we might look at later But we also might want to send just a payment link as an easy form of payment in some cases And then we can even text the link and this will create instead of an invoice a sales receipt skipping the accounts receivable process in it So how would that happen we can we can go into there one way to get there is we can go to the sales on the left hand side Which is usually where our customers are at and then go to the payment links So the payment links if you haven't set any up before says get paid easily anywhere anytime with payment links No time no problem share a payment link sit back and let your customer send you money So it's not usually that yeah not easy to sit back and let them you have to give them something usually for them to send you money It's not just like you give them a link and that's it but in any case number one create a unique link Answer a few questions to create a link that lets customers pay you number two share it with your customers Copy your link to send in an email or text you can also display it or it as a QR code for in person payment So if you want people to pay you with like this QR code to scan the QR code then you can make your payment link into that format Which again is kind of similar to a point of process kind of system where they're paying you like kind of like out of cash register situation Get paid number three your payment is automatically recorded in QuickBooks as a sales receipt instead of an invoice We have a sales receipt now a quick note here Remember when I go into my invoice up top you've got your payment options on the left right but and this is that's in the new view The other view will look different but you'll still have your payment options when I go into the sales receipt form Which is usually the one on a cashed based system we don't really have the payment options we have to manually kind of enter Enter the form if I go directly into this form But if I use the sales receipt thing it's going to create the sales receipt form with basically the you know the link that we're creating Alright so let's check that out so I'm going to close this out and let's create a link let's do it So select a payment link that meets your needs so we've got the first one one time payment link works once with one customer You can watch their video on it tip used to get paid for a single product service from one customer best for a customer you're only selling to once So if we have a one time sale to a particular customer it's basically a point of sale we expect them to pay us very soon We don't need to send them an invoice because we're not giving them 30 days to pay us for a longer payment time They're going to pay us here and now then we can put the payment link which allows them to have that one time use and then the payment link has been used after that point We don't have to worry about it after that time then we've got the multi use payment link works with multiple customers and can be used multiple times Tip I used to get paid for a single product service from multiple customers best for groups of customers who pay for the same thing or a customer who pays you regularly for the same amount So now we have the link they can be used multiple times you have to set it up in such a way if you're going to be reusing the link for them to be paying you So that they're paying you for us you would think a standard thing so that you can set the amount properly to have the amount that's going to be populated and what they're paying for systematically set up So let's start with the one time payment link let's go next on it it says one time payment link customize your payment link now you can edit the payment link URL by adding your business name so your customer knows it's you So if you want to customize your link meaning you're giving them an actual link and you can possibly put your name in the URL which would be snazzy if you go into that it says make your payment link links your own and it says your customer will see your name and and logo when they visit the link to pay you to change changes to the logo and business name go to the account settings so edit your payment link so that you've got your link here and then it's got test code and so on on the left hand side if you want to get into customization of the link I'm not going to do that however so I'm going to click out of that and go into here again and so next says your customer can pay you with this link just tell us the payment amount what it's for and who you want to send it to don't worry this won't impact any open invoices so it's not going to impact an invoice it's not going to be tied to an invoice you can see the video here to see how it works let's make the payment for $1 so what product or service is this for so I'm going to just put pro let's say service one generic service and the customer that we're going to be selecting here let's do this once again to Jay customer email address is going to be necessary often times for the links I believe let's test that out if I if I choose a customer without a payment link choose the way you want to get paid so once again you've got your cards and you've got the bank transfers notice here it says it won't let me go forward here because I don't have a customer with an email address so I'm going to say alright choose a customer with an email address and then it allows me to process forward now notice what is not included on this form that is included on an invoice is there's not a specific item I said the product here what product or service and I just kind of named it here this is a text box but it's not an actual service item field so it's not like auto populating the dollar amount for the service item and connecting it to the actual you know items that we would be setting up so just note that we're going to say alright send the link let's send it out so in addition to sharing via email you can copy this link to send it in a text message you can also display the link as a qr code so the customer can scan it and pay in person so once you have the link here you can copy the link and it's already been emailed out you can now send it out by phone or text or whatever you want to do the qr code is listed over here so customer can pay you by scanning this qr code with their smart phone so if you've got that if you're high tech enough to be scanning with a smart phone then you can do that so I'm going to say alright let's that's done and let's go back to my customers over here and see what happened in customer number J with that one so notice that nothing has been populated here with I don't see a sales receipt yet until they actually pay it so it's a very short term type of thing we would expect once that happens that we're going to see a sales receipt so here's the actual email so if we see the email there we have it we have the link here so if I go into the link it's going to take us to the landing page so whether the link was in the email or the phone or you sent them the link however once they click on the link basically you're going to go to a landing page where they can pay you they've got the payment options up top which is the debit card the credit card and the bank with the links so then they can go through the payment process here for those options notice down here I didn't point this out last time it says save payment with the faster future payment so of course they can save their account here and with the invoice they also had the ability to set the date that they wanted to pay it I believe so if they didn't want to pay it immediately they could still go in there and be proactive and set whatever date they want to set which you would think they would set like the last day of the due date of the invoice or something like that if they wanted to try to do that time management of money thing alright now jumping back over it's been paid now so now we're going to say the payment happens and it processes quite quickly over here and then if I go back into my customers you see the sales receipt has now been generated now so note what is happening this this is working more as a point of sale type of activity not as an invoice so if you send out the payment link and and they don't pay you quickly you're not really tracking it in accounts receivable so that's why you're not trying to use this link in this method in order to track the accounts receivable if you're giving them some long period to pay you you're saying hey I'm going to send you the link and I'm hoping you pay me I would I'd like you to pay me right now that's the design of the link otherwise you can use a payment you can use a link that was created with the invoice to pay you that way but you could still give them the link for the invoice so here's the actual sales receipt that was created notice it's it's saying that it's paid so the sales receipt by its nature when you create a sales receipt it's going to be paid at the point in time that it is created which again is why it's not created the sales receipt isn't created when you make the set the payment link it's created when the payment is actually paid because that's what a sales receipt means it means we got paid for the work that was done at this point in time so let's go into that payment link and so notice here that it here's our payment link that was created so it looks like a normal sales receipt that was created similar to an invoice but instead of increasing accounts receivable it's going to be it's going to be payment received at the same point in time and then down here notice that it put that it was a service item as the item so I don't believe we actually chose the item when we made the payment link it just chose you know the service item as we populated it here and then down below it gave us this auto generated sales receipt so just basically put it to service items here and then put the $1 in the amount as a kind of a generic amount because in other words if I close this out and I go to my balance sheet and run this now we have once again that going into if I go back on over here and check it out it's going it's the payment is the credit card so I close this back out and I go to my deposits then it's still batching on the deposit now I have four items that are batching on the deposit therefore it didn't put it into the checking account yet it's still processing and it put it into the payments to be deposited so it put it into the payments to be deposited here for the dollar now the thing I just want to point out close I'm going to go back back to the first tab is that is that normally when I make an invoice or a sales receipt this way you have the items that we're adding down here those are the items that we create now if I set up a fixed amount a dollar amount for an item that the item will populate over here by dollar amount so if I made a new item for example and I said it was a test item and then flat rate amount type I'm going to say then I'm saying it costs like $5 by item by item let's say then I'm going to say okay and close this out now when I put the item on there it's going to have that set price of $5 and so the item is what drives the amount that you're going to charge if you're using the items that way so that the data input is quite easy because your items already have the fixed amounts that you're going to charge per item in there they also help you out with the tracking of the sales tax oftentimes when we entered the links this way leave without saving I'm going to say leave without saying and we made the payment link notice we didn't here's here's the payment links being tracked by the way one time link multiple links here's the one time link it has been paid so that's how you can you can still kind of track it that way which is kind of similar to tracking accounts receivable but it's not going through the accounts receivable account but in any case if I said new payment link and I did the one time payment thing and went over here notice there's nothing here that really has the item in it we just put a description down here and then it made just a basically like a generic item for us so so that's one thing that could be a pro and a con pro or a con however you think about it it's flexible because you could just put the dollar amount here for a nice quick payment and then it creates like a generic sales receipt it looks like so let's do a let's do another one and this time let's use the multi link just to play with that new payment link let's make it a multi payment so once again this works with multiple customers and can be used multiple times so now you can reuse the link which means of course you have to set a dollar amount that's going to be useful for multiple times so customize your payment now you can edit the payment link URL by adding your business name so you can customize it still if you want answer a few questions so we're going to have the dollar amount let's make this 150 this time and then what product or service again it's kind of generic so we've got pro let's say service to and then I am selling a product and delivering it after I get paid so if it's a product you can check that off and then you and then you have the estimated date of delivery so you can put the delivery dates what this link I want this link to just work once I create a one time link so it's saying you could go back to do the one time link notice that if I say it's a product in the United States it's more likely that it's it's subject to sales tax I don't have the sales tax pop it I haven't turned on the sales tax to have it to see if the sales tax would apply out in the link maybe I'll test that out later but let's keep that for now we'll say okay there's that and then I'm going to say the range is one to three days and so I'll say it let's create the link and so there we have it so you can copy this link to share it in an email text or across your social your social you can you can also display the link as a qr code and so on so here's the qr code now if I copy this link they can pay us basically multiple times right or we can have multiple payments for that amount so let's imagine for example if I open up a good old incognito window and just paste that link in here so there's there's the link so that's nice I mean you can even you can imagine having a reoccurring payment or some something that you're selling on a website or something like that and they have a payment link possibly even a donation link I don't know that that would go directly directly here or something like that for reoccurring payment and it shouldn't expire after the payment is done as we saw happens with the last one so now we can see the link populated down here service to no payments thus far and it is an active link even if we had a payment it would still be an active link whereas with the one time link once it's paid it's no longer an active link and then if I go over here to the view tab it gives us the paid pending and the information related to the payment and it's still pending meaning it recognizes that it's paid but we haven't deposited into the checking account at this time yet it has been processed by the credit card company to get it into our checking account