How to Receive Payments in QuickBooks Online: A Guide for Small Business Owners
Managing consistent cash flow is one of the most important parts of running a business. How you receive and record payments directly impacts the accuracy of your financials and your ability to understand what’s actually happening in your business.
QuickBooks Online provides multiple ways to receive and record payments, whether you're invoicing clients, collecting payments in person, or logging sales as they occur. When used correctly, these tools help keep your financial records accurate, up to date, and aligned with your actual cash flow.
Accepting Payments Through QuickBooks Payments
If you send invoices to customers, QuickBooks Payments allows you to accept ACH bank transfers and credit card payments directly from the invoice. Each invoice includes a built-in payment option, making it easier for customers to pay and reducing delays in receiving funds.
You can track when an invoice is viewed, paid, and deposited, and set up notifications to stay informed. While manual payment entry is still an option, enabling QuickBooks Payments helps standardize your process and improves consistency in how payments are recorded.
QuickBooks Payments fee overview:
ACH bank payments: 1 percent
Credit card or manually keyed payments: 3.5 percent
Swiped credit card payments: 2.4 percent
Flat fee per transaction: 30 cents
Lower rates available with a $20/month plan
Payments submitted before 3 p.m. Pacific Time typically reach your bank account by the next business day.
Accepting Payments on the Go with GoPayment
For mobile or in-person payments, the GoPayment app provides flexibility while still keeping your records connected to QuickBooks Online.
It works with a mobile card reader and allows you to accept chip, tap, or digital wallet payments. You can also manually enter card details when needed.
GoPayment allows you to:
Add products and services
Set pricing
Include images for faster checkout
This is especially useful for service-based businesses or situations where work is completed and paid for outside of a traditional invoicing process.
Recording Immediate Payments Using Sales Receipts
When a customer pays at the time of service, using a sales receipt ensures the transaction is recorded accurately without needing to create and match an invoice later.
To create a sales receipt:
Click the New button
Select Sales Receipt under Customers
Choose the customer and enter payment details
Save and send or print
This approach keeps your books updated in real time and reduces the risk of missed or duplicated income.
Managing Payments with Undeposited Funds
When payments are received but not yet deposited, QuickBooks Online temporarily holds them in the Undeposited Funds account. This is most common with cash or check payments.
To properly record deposits:
Click New → Bank Deposit
Select the correct bank account
Choose the payments being deposited
Click Save
This step ensures your recorded income matches what actually hits your bank account—something that becomes critical during reconciliation.
Regularly reviewing the Undeposited Funds account helps prevent transactions from being missed or left incomplete.
The Bigger Picture
Receiving payments is only one part of the process. What matters more is how those payments flow through your system and show up in your financial reports.
If payments aren’t recorded consistently or deposits don’t match your bank activity, it can lead to inaccurate reporting, confusion during reconciliation, and poor visibility into your cash flow.
When your systems are set up correctly, these tools work together to give you a clear, reliable picture of your income—and that starts with having your financials structured properly.
The Bottom Line
QuickBooks Online provides flexible ways to receive payments—but accuracy depends on how those processes are set up and maintained.
A consistent, well-structured approach ensures your income is recorded correctly, your reports are reliable, and your business decisions are based on accurate information.
Let’s Make Sure You’re Set Up for Success
If you’re not confident your payment process is set up correctly—or if your records don’t fully align with your bank activity—it may be time to take a closer look at how your system is structured.
We help business owners create accurate, organized financial systems that support better decision-making and long-term growth. You can reach out to see if we’re the right fit for your business.