The payment deposited in the bank and that too without an invoice is generally not sales. This is some kind of immediate gain that you want to account for and you paid nothing in return. In the same context, here is the query recently raised by one of our clients.
Here is how he described his issue:
Here the item wasn’t worth enough, but since the cash received would now need to be accounted thus here is what you will do…!
- Under Receive payment option, enter the amount that you have received in your bank. If the money hasn’t been deposited already then pass an entry under undeposited funds.
- If you will be refunding the payment to the customer then make use of Accounts receivables. Debit the AR and Credit the Customer.
Related article: How to delete a recorded deposit in Quickbooks?
How to Make A Deposit in QuickBooks without An Invoice?
Here is the most simple way that you can make use of to make a deposit in Quickbooks without an invoice.
Just follow the steps:
Total Time: 10 minutes
The very first thing you would need to do after logging into your Quickbooks account is to click on the (+) sign button. If you don’t see that already then check out the top navigation bar.
Now choose the sales receipt tab.
This will open up the transaction window. Enter all the required fields to process deposit.
From the Deposit method tab, choose the method type via which you received the deposit. This can be through the way of cash or card or cheque etc.
Fill in all the instructions that follow and hit save and this will finally process your entry.
Need Professional Help?
If you get stuck anywhere in the process, feel free to get in touch with SMBAccountants Team, Which is available 24/7.
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