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When you receive a customer payment, several things happen:

  • The value of your invoices/receivables account decreases by the amount of the payment.
  • The value of your bank account increases by the amount of the payment.
  • If you use cash basis for your accounting, you have an actual increase in income
  • Quicken updates the Cash Flow and Profit/Loss snapshots.

I want to download this payment from my financial institution

I want to enter this payment manually

Notes

Merchant Account Services customers: Information is also available about how to receive credit card payments through Visa or MasterCard as well as American Express.


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