In this article we will cover how to post an EFT in AR Workflow and how this could convert to QuickBooks.
Please note that AR Workflow employees do not work in QuickBooks and are not certified accountants. For specific questions regarding using QuickBooks or accounting processes and procedures, please consult an accounting specialist.
An EFT is an electronic check that is automatically deposited into your bank account, so posting it in AR Workflow will be the same as posting a check.
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Follow the normal process to take payment in AR Workflow from the Customer Details page or the +Quick Action drop-down.
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Post a Check payment.
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Enter EFT for the check number.
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In the memo line, enter what the EFT was for. For example: Alacrity.
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Post.
Complete the process in QuickBooks.
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Under Bank Deposits, match the EFT payment to the open invoices by selecting the payment line items.
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Select Save and Close.
The last thing you want to check is how the bank deposit looks in the Register.
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Open the Bank Register.
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Make sure the deposit looks correct. To edit the deposit, click on the line item and select edit.
Important Note:
Anytime you receive any payment, it should go to the bank deposit/undeposited funds and you match it based on what the actual deposit should look like in your checking account.