***Recording Check Payments

***Recording Check Payments

Recording a check payment can be done in a few simple steps. Once your customer has paid you, you’ll want to record that payment. But how? We’ll take you through the steps of recording a check payment. Let’s get started! 

Step 1: First, you’ll want to add checks as a payment method on your invoice. This article will show you how to Add a Payment Method to your invoices. 

You will be able to add payment instructions to your invoices so you can (hopefully) avoid having your payment delayed by the all-too-common question, “Who do I make this check out to?”

Step 2: Once you’ve saved your instructions, you’ll want to add them to your new invoices.
  1. Create a new Invoice.
  2. Select your newly created Check payment method by clicking Accept online payments at the top of the invoice. Turn on the Check Payment method.


Step 3: Once you’ve selected your new Check payment method, you’ll want to preview your invoice to make sure it appears the way you want it to. If you’re all set, send it out!


Recording Check Payments on Your Invoices
Once you receive the check from your customer, account for it under Bank Accounts and mark the invoice as paid.

Step 1: Navigate to the Invoice page.
Step 2: Select the invoice that your customer has paid.
Step 3: When you click on the invoice, you’ll have the option to Enter a Payment.



Step 4: On the Enter payment screen, select the invoice that the check matches. 



Step 5: Select the bank account that the check will be deposited to.
Step 6: Enter the amount on the check. 
Step 7: Click Enter Payment when finished. You’ll now see that your invoice(s) has been marked as paid.

Note: If the amount on the check is different from the total amount on the invoice(s) you’re applying the payment to, you’ll be able to record the difference as a partial payment, overpayment, or bank fee.



Reconciling a Check Deposit

Once you’ve marked your invoices as paid, you’ll want to reconcile them as they come through in your bank feed.

Step 1: Make sure you’ve marked all of your invoices as paid if you’ve received checks for them.

Step 2: Click and drag your payment to match the transaction from your bank feed. You can see an example below where a $200 payment marked is matched to the corresponding bank transaction.


Reconciling a deposit with multiple checks

If you’re doing a lot of business, chances are that you group your trips to the bank to deposit checks. In this example, we’ll show you how to reconcile your deposits with multiple checks.

Step 1: Double-check that you’ve marked all of your invoices as Paid for invoices that you’ve received checks for. This process will not work for invoices marked as Unpaid.

Step 2: Locate the payments in your Unreconciled entries panel on the right. You’ll want to click and drag them to associate them with the bank transaction.

Have a question about recording check payments or reconciliation? Feel free to reach out to us at customerservice@lendio.com!


    • Related Articles

    • How To: Process Credit Card Payments?

      Created: August, 12th, 2022 Overview While credit card payments are seen as negative transactions in the checking account bank feed, they are not expenses. These payments are not considered an expense but a transfer.  The individual transactions that ...

    • Add a Payment Method (Credit/Debit Card, Cash, Check, ACH)

      Sunrise Pay is the quickest way to get paid on your invoices. Once you sign up with a free user account, you’ll have access to add new payment methods. Sunrise Pay includes credit and debit cards and bank transfers. You’ll be able to add Check and ...

    • How to: Set up Payments on the Mobile App

      Users of Lendio's software solution have access to WePay, which is an easy and secure way to accept credit cards and ACH bank transfers for your business’ invoices. You can set up a merchant processing account with WePay on your desktop, but now you ...

    • Accepting Payment: Scanning Credit Cards & Accepting Payments on the App

      One of the most useful aspects of the mobile app is the ability to use your camera to scan credit cards and accept them as payment for your invoices. This ability allows your business to accept payments on-the-go, making it convenient for both you ...

    • How to Set Up Payments (Stripe, PayPal, Square, ACH, Credit Cards)

      Adding payment methods in your Lendio account is one of the best ways to make your accounting easier and faster, not just for your business but for your clients as well. Having more avenues for your clients to pay you removes hurdles that can delay ...