Invoice or Sales Receipt? The #1 QuickBooks Mistake New Users Make

Get 30% off QuickBooks for 6 months when you sign up through my affiliate link: quickbooks.partnerlinks.io/uixlt4lvoist Are you recording payments straight to your bank account in QuickBooks? 😬 That might be the biggest mistake you’re making — and it can seriously mess up your books. In this video, I’ll show you the right way to get paid in QuickBooks Online using Invoices, Sales Receipts, and the often-misunderstood Undeposited Funds account. Whether you're running a small business, nonprofit, or flight school, understanding how to properly track customer payments is key to keeping your books clean and your deposits matching your bank. ✅ Learn how to: Use Invoices when customers pay later Use Sales Receipts for instant payments Understand Undeposited Funds (aka “Top Drawer”) Avoid mismatched deposits Keep track of unpaid invoices with A/R Aging Reports Timestamps: 0:00 - Intro: The #1 QuickBooks Mistake 0:50 - Add a New Customer 3:46 - Create and Send an Invoice 6:21 - Use a Sales Receipt for Immediate Payment 8:11 - What is “Undeposited Funds” and Why It Matters 12:12 - Silver Bullet Bookkeeping LLC 12:34 - Credit Card Payments & Transaction Fees 14:54 - Cash and Debit Card transactions 15:39 - Step 4: Receive a Payment on an Invoice 17:31 - Split a Payment Across Multiple Invoices 18:08 - Track Transactions by Client/Customer 18:27 - Use A/R Aging Summary to See Who Owes You 19:09 - Final Recap & Tips #QuickBooksOnline #CatherineSilverio #QuickBooksTips #BookkeepingHelp #SilverBulletBookkeeping