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How to Add a Payment Item to the Item List in QuickBooks 2014

If you sometimes accept payments when you invoice a customer, you can create a payment item in QuickBooks and then add the payment item to the bottom of the invoice. If you do this, the invoice, the payment amount, and the net amount due all appear in the same document. That’s pretty cool.

To set up a payment item, display the New Item window and select Payment from the drop-down list. Use the Item Name/Number box to give the payment item a code or name such as “payment.”

Use the Description box to provide a nice description of the payment. (No kidding, you may want to include the phrase “thank you” as part of the payment description. How about something such as “Payment . . . thank you!”?)

Use the Payment Method drop-down list to identify the method of payment: American Express, check, cash, Discover, MasterCard, or Visa, as appropriate. Finally, use the radio buttons — Group with Other Undeposited Funds and Deposit To — to identify what happens to the money received as part of the payment.

If you indicate that the money is deposited, you also select the correct bank account from the Deposit To drop-down list. The figure shows an example of the Payment version of the New Item window.

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