Log/process a payment
Method's Payment App is used to log a payment, which saves a record of the received payment and updates invoices in Method and QuickBooks. The app can also process payments made via payment gateways (e.g. credit card payments). The following sections will show you how to do both.
Processing a payment requires you to log it as well.
Log a Payment
When you receive a payment from a customer, three things should happen:
- The payment should be logged as a record in Method
- The payment should be applied to the customer's balance based on their invoice(s)
- The customer balance should be updated in QuickBooks
The following steps will show you how to accomplish all three of these goals.
- From your Method dashboard, click New on your Payments App, or click New Payment from your Payment List screen. This open your New/Edit Payment screen.
- Choose the customer to associate with this payment.
- By default, the amount reflects the customer's total outstanding balance. If this differs from the amount of the payment, change the amount.
You cannot associate a payment with a customer carrying a negative balance.
- The Date field shows today's date by default, but you can change it.
You can set a future date, but make sure you click “Waiting for sync approval” so QuickBooks doesn’t update the customer's invoices.
- Choose a Payment Method from the dropdown.
- Assign a Reference Number. If you don't, Method will assign one sequentially (if the last payment was 15, this will be 16).
- Choose your Accounts Receivable account. This dropdown is populated by QuickBooks, but does not appear for QuickBooks Online users.
- Choose the Deposit to account where money is initially deposited. The options are populated by QuickBooks.
- If you check Waiting for sync approval, your payment is accepted, but invoices are not updated in your QuickBooks account until it's unchecked.
- Include a Memo if required.
- You can also add Attachments to this payment.
- If you click Auto Apply Payments, Method does the following:
- If the payment exactly matches the remaining balance of an existing invoice, Method applies the payment to that invoice (even if it isn’t the oldest invoice by date.)
- If the payment does not match a specific balance, it is applied to the oldest outstanding invoice for this customer.
- If the payment pays off an invoice with extra left over, the extra is applied to the next-oldest invoice.
- If the payment does not pay off the entire invoice, the payment is deducted from the balance.
- If you unclick Auto Apply Payments, you are prompted to choose an invoice (or invoices) to apply this payment to.
- Click “Select Invoices to Pay”.
- Select one or more outstanding invoices from the list by checking the checkbox.
- Click “Add Selected Invoices”.
- You are returned to the New/Edit Payment screen, where an invoice list is populated with the invoices you selected. This list shows the total balance due on all selected invoices.
- If you want to process the payment at the same time it's logged, please see Process a payment below.
Leaving this option unchecked means Method assumes the payment has already been received.
- Click Save to save the payment.
Your payment is now visible in the Payments List. Any payment processed is subtracted from the customer’s outstanding balance in QuickBooks during the next sync, and their balance in Method is also updated.
Process a Payment
In order to process a payment in the Payment App, you must have previously set up your payment gateways. To learn how, click here
- Follow steps 1-12 above.
- Click Process with gateway when saving and choose your gateway from the dropdown.
Only gateways that have been previously set up will appear in this dropdown.
- Fill in the customer's credit card number, expiry date and verification code. Their name, address and zip may be auto-filled.
Method does not save credit card information.
- Click Save to save the payment.
The payment is saved to Method as above and will update records in QuickBooks during the sync. The payment has also been processed via your chosen payment gateway.