{"id":225914,"date":"2025-06-04T18:22:54","date_gmt":"2025-06-04T18:22:54","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=225914"},"modified":"2025-06-04T18:22:56","modified_gmt":"2025-06-04T18:22:56","slug":"corinne-needs-to-record-a-customers-payment","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2025\/06\/04\/corinne-needs-to-record-a-customers-payment\/","title":{"rendered":"Corinne needs to record a customer&#8217;s payment."},"content":{"rendered":"\n<p>Corinne needs to record a customer&#8217;s payment. Which QuickBooks function would be most useful? Bank deposit Receive payment Create invoice 27<\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-ast-global-color-1-color\">The correct Answer and Explanation is:<\/mark><\/strong><\/p>\n\n\n\n<p>The correct answer is: <strong>Receive Payment<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Explanation<\/h3>\n\n\n\n<p>When a customer makes a payment on an outstanding invoice in QuickBooks, the most appropriate function to use is <strong>\u201cReceive Payment.\u201d<\/strong> This feature is specifically designed to record payments received from customers for goods or services previously billed.<\/p>\n\n\n\n<p>Here\u2019s how it works:<\/p>\n\n\n\n<p>Suppose Corinne had earlier created and sent an invoice to a customer through QuickBooks. Once the customer pays\u2014whether partially or in full\u2014Corinne needs to record this transaction properly to reflect updated balances in accounts receivable and ensure accurate financial reporting. The <strong>Receive Payment<\/strong> function links the payment to the original invoice. This not only reduces the customer\u2019s outstanding balance but also ensures that revenue is properly recognized.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Why not the other options?<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bank Deposit<\/strong>: This feature is used <strong>after<\/strong> receiving the payment, to record the actual deposit of funds into a bank account. If Corinne only uses the Bank Deposit function without first recording a customer payment, QuickBooks will treat the deposit as unrelated to any invoice, which can lead to accounting discrepancies and outstanding invoices appearing unpaid.<\/li>\n\n\n\n<li><strong>Create Invoice<\/strong>: This function is used <strong>before<\/strong> receiving payment, to bill a customer for goods or services. It initiates the accounts receivable process. If Corinne has already invoiced the customer, she doesn&#8217;t need to create another invoice\u2014she needs to record the payment against the existing one.<\/li>\n<\/ul>\n\n\n\n<p>Therefore, <strong>Receive Payment<\/strong> is the correct and most useful function for Corinne in this context. It ensures accurate tracking of customer payments, maintains clean records, and properly updates accounts receivable. Once the payment is recorded, Corinne can then proceed to use the <strong>Bank Deposit<\/strong> function to show the money entering the business\u2019s bank account, if the payment wasn\u2019t deposited automatically via QuickBooks Payments.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2025\/06\/learnexams-banner4-375.jpeg\" alt=\"\" class=\"wp-image-225915\"\/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Corinne needs to record a customer&#8217;s payment. Which QuickBooks function would be most useful? Bank deposit Receive payment Create invoice 27 The correct Answer and Explanation is: The correct answer is: Receive Payment Explanation When a customer makes a payment on an outstanding invoice in QuickBooks, the most appropriate function to use is \u201cReceive Payment.\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-225914","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/225914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=225914"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/225914\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=225914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=225914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=225914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}