Error applying payment in QuickBooksOnline. Error: Invalid account type used of type: Payment Invalid account type: Check your account details before you continue. You may need to select a different type of account for your transaction
How can this happen?
The Account for Clearing Payments is set to an account that cannot be used to post the payments in QBO. This can happen when a Wise-Pay Clearing account is not created in QBO and not updated in your Merchant Settings or when the account set during the setup was updated in QBO but not updated in Merchant Settings.
- Create the Wise-Pay Clearing Account in QBO (Other Current Asset Account)
- Go to Wise-Pay Configure Menu
- Click on Merchants
- Edit Merchant
- Update the Account for Clearing Payments
- Once saved, go to Wise-Pay Home and click Fix to see the full details of the error message
- Click Retry to post the payment in the Accounting Package