QuickBooks^® Request for Payment Invoicing

QuickBooks Online (QBO) doesn't provide native features for collaborative real-time matching, merging, and clearing of Request for Payments (RfP) within the software itself. However, you can use QBO's features in conjunction with external communication and coordination tools. Here's a general guide on how you might structure your workflow:

1. QBO Setup:

• Set up your Request for Payments and associated invoices within QBO.

2. Shared Spreadsheet:

• Maintain a shared spreadsheet (e.g., Google Sheets or Excel Online) accessible to both payers and payees.

3. Columns for Matching and Clearing:

• Include columns in the spreadsheet to facilitate matching and clearing of payments.

• Match Status: A column to indicate if the payment matches the request (e.g., Yes/No).
• Merge Status: A column to indicate if multiple requests have been merged (e.g., Yes/No).
• Clearance Status: A column to mark when the payment is cleared.

4. Unique Identifiers:

• Assign unique identifiers to each Request for Payment (RfP) and corresponding payments to ensure accurate matching.

5. Payee Collaboration:

• Allow payees to update the spreadsheet to mark matches, merges, and clearances.
• Payees can periodically review the aging requests and update the match, merge, and clearance statuses based on their records.

6. Notification System:

• Implement a notification system to alert payees when new payments are recorded in QBO.
• This can be done through automated emails or other communication channels.

7. Regular Review Meetings:

• Conduct regular meetings or check-ins between payers and payees to discuss and resolve any discrepancies or issues.

8. Integration with QBO:

• Manually update the spreadsheet based on the payment information recorded in QBO.
• Alternatively, explore if there are third-party tools or integrations that can sync data between your shared spreadsheet and QBO.

Example Structure:

Note:

• This approach requires manual input from both parties and involves regular communication.
• It's crucial to maintain accurate and up-to-date records in both the spreadsheet and QBO.
• Security measures should be in place to protect sensitive financial information.

While QBO doesn't directly support real-time collaboration, this approach allows you to leverage its accounting capabilities while facilitating collaboration through a shared spreadsheet. Always ensure that any external tools or processes comply with your organization's security and data protection policies.