Record USDC/USDT Invoice Payments in Xero & QuickBooks

April 21, 2025•3 min read

Paying invoices in stablecoins like USDC or USDT is commonplace for Web3 and crypto-native teams. However, after you've paid an invoice directly from your wallet, properly closing that invoice in QuickBooks or Xero is essential for maintaining accurate financial records.

Here's a straightforward guide outlining three methods, depending on your accounting tools:

Common Setup for All Methods

Before you start, ensure:

You've paid the invoice in USDC or USDT.
Your wallet is tracked as a Bank or Asset account.
The invoice is recorded in USD (assuming 1 USDC/USDT = 1 USD).
In Xero, your asset account is enabled for payments.

Method 1: Manual Closing (No Subledger)

If you aren't using a crypto subledger, manually record payments in USD equivalents:

QuickBooks

Go to invoice → Receive Payment
Enter Amount: USD 500
Deposit to: USDC Wallet (Bank or Asset account)
Save transaction

Xero

Select invoice → Add Payment
Enter Amount: USD 500
Paid From: USDC Wallet
Save transaction

Simple

Manual entry; suitable for low-volume crypto transactions

Method 2: Subledger Without Direct Invoice Closure (e.g., Bitwave, Cryptio)

Subledgers like Bitwave or Cryptio track blockchain payments and create journal entries but can't automatically close invoices. Use a Crypto Clearing account:

QuickBooks/Xero

In subledger, set:

Debit: Crypto Clearing

Credit: USDC Wallet

Manually close invoice by applying payment from Crypto Clearing:

Invoice → Receive/Add Payment → Paid From Crypto Clearing
Enter Amount: USD 500
Save

Accurate wallet tracking

Invoice closure

Requires manual clearing

Method 3: Breezing — Native Invoice Closure

Breezing is the only crypto subledger that directly integrates with QuickBooks and Xero, allowing seamless matching, journaling, and invoice closure without a clearing account.

QuickBooks with Breezing

Select QBO entity on Breezing contact details
Select "Accounts Receivable" as the transaction account.
Save + Sync journal to QuickBooks

Xero with Breezing

Select Xero invoice on Breezing
Override FIAT amount (optional)
Click "Submit payment on Xero"

Automated invoice closure

Accurate wallet reconciliation

No manual clearing

Integrating Breezing with Xero and QuickBooks

Breezing seamlessly integrates with both Xero and QuickBooks, allowing you to directly sync crypto transactions and close crypto invoices into your accounting software.

Comparison Summary

Method	Invoice Closure	Manual Effort
Manual Entry	Manual	High
Bitwave/Cryptio + Clearing	Manual	Medium
Breezing	Automatic	Low

Video Guide

For a visual walkthrough, watch this detailed guide on "How to Close Stablecoins Invoices in Xero and Quickbooks"

Watch "How to Close Stablecoins Invoices in Xero and Quickbooks" on YouTube

Conclusion

Paying with stablecoins is efficient, but correctly closing invoices is crucial for clean accounting. Choose manual entry for low volumes, use clearing accounts for limited automation, or opt for Breezing for fully automated crypto accounting workflows.