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Experienced Member
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Deposit alone without applying to an invoice

Is it possible to make a deposit without having an invoice to apply it to?  If so, how do I go about doing that?

Best answer 07-09-2018 05:29 AM

Accepted Solutions
QuickBooks Team

Re: Deposit alone without applying to an invoice

Hey there, @dsruble13.

 

Thank you for getting back to me on this. I can clarify further on recording deposits in QuickBooks. Because the program is a dual accounting software, there needs to be a corresponding account alongside the "deposit to" account. This is usually an equity account of some sort, as I've seen other customers use this in the past.

 

I hope this helps to clear any confusion. If you need anything else, feel free to reach out to me in the Community again. 

Intuit

Re: Deposit alone without applying to an invoice

Hi, @dsruble13!

 

I am glad you had your query resolved.

 

The Community is much more than product help. It's also a place to seek guidance, gain inspiration and make connections... This all happens over on the Business Discussion boards too Smiley Happy. Whether you're self-employed, own a small business or you're eager to learn something new, the Business Discussions offer a great opportunity! Have a browse of our additional pages using the links below and come over and comment. I would love to hear more about what you do!

 


QB Community Home          Talk About Your Business 

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17 REPLIES 17
QuickBooks Team

Re: Deposit alone without applying to an invoice

I'm happy to see you here, dsruble13.

 

Let me assist you with your concern about making a deposit.

 

When you receive payments from customers, you can deposit the payment directly to the bank account.

 

Here's how:

 

1. Click the Plus sign.

2. Select Bank Deposit.

3. Choose a bank account.

4. Select a currency.

5. Scroll-down to Add funds to this deposit and fill-in necessary information.

6. Make sure to choose the correct income account.

7. Click Save and close.

 

You can also use sales receipts if you receive full payment at the time of the sale. This kind of transaction include payments by cash, check or credit card.

 

Here's how:

 

1. Click the Plus sign.

2. Select Sales Receipt.

3. Choose the name of the customer.

3. Enter all sales information.

4. Select Save and send or Save and close.

 

Please remember I'm here anytime you need help. You can reach out to me by clicking the Reply button below.

 

Experienced Member

Re: Deposit alone without applying to an invoice

Where do I find the PLUS sign?

QuickBooks Team

Re: Deposit alone without applying to an invoice

Hi dsruble13,

 

The Plus (+) sign is in the top right hand corner of your account, next to the magnifying glass.

 

Thank you, Carly. Smiley Happy

Experienced Member

Re: Deposit alone without applying to an invoice

I don't see a magnifying glass either. 

QuickBooks Team

Re: Deposit alone without applying to an invoice

Hi,

 

Can I ask what version of QuickBooks you are using?

 

Thanks.

Experienced Member

Re: Deposit alone without applying to an invoice

QuickBooks  Enterprise: 2018 Manufacturing and WholeSale

QuickBooks Team

Re: Deposit alone without applying to an invoice

As this is the US version I will transfer your query to our US support team to assist you further.

QuickBooks Team

Re: Deposit alone without applying to an invoice

Thank you for bringing this to our attention, @CarlyL.

 

You're in good hands here in the QuickBooks Community @dsruble13. Allow me to clear the air about recording deposits. You can enter deposits in QuickBooks without having to input an invoice with a payment. Here's how: 

  1. From Banking across the top, click Record Deposits/Make Deposits.
  2. In the Make Deposits window, click the Deposit To drop-down then choose the bank account where the payment will be deposited to.
  3. Enter the date.
    (Optional) Enter a memo.
  4. Add any payments to deposit. Note that the deposit amount is the sum of all payments you deposited.
  5. Click Save & Close.

In case you need it, I've also attached the article on recording deposits here. If you have any questions about this, feel free to leave me a comment below. 

 

 

Experienced Member

Re: Deposit alone without applying to an invoice

Ok I entered all my information except for "From Account".  At this time we do not have any money's in any of the accounts as we are going from one order entry system to Quickbooks.  Our old order entry system is a dos based program and we are not able to transfer some stuff over to Quickbooks.  Without choosing something in the drop  down menu under "From Account", it won't let me save and close.

QuickBooks Team

Re: Deposit alone without applying to an invoice

Hey there, @dsruble13.

 

Thank you for getting back to me on this. I can clarify further on recording deposits in QuickBooks. Because the program is a dual accounting software, there needs to be a corresponding account alongside the "deposit to" account. This is usually an equity account of some sort, as I've seen other customers use this in the past.

 

I hope this helps to clear any confusion. If you need anything else, feel free to reach out to me in the Community again. 

Experienced Member

Re: Deposit alone without applying to an invoice

Thank you for your time on this Clay!  It did answer my questions.

Intuit

Re: Deposit alone without applying to an invoice

Hi, @dsruble13!

 

I am glad you had your query resolved.

 

The Community is much more than product help. It's also a place to seek guidance, gain inspiration and make connections... This all happens over on the Business Discussion boards too Smiley Happy. Whether you're self-employed, own a small business or you're eager to learn something new, the Business Discussions offer a great opportunity! Have a browse of our additional pages using the links below and come over and comment. I would love to hear more about what you do!

 


QB Community Home          Talk About Your Business 

         Find Inspiration     

Community Contributor *

Re: Deposit alone without applying to an invoice

In QuickBooks desktop for Mac 2016 version.

 

I have logged payments by using "Receive Payments" without creating invoices and then deposited them in respective bank accounts.  Now "Accounts Receivable" is showing all that amount. I have reconciled and bank accounts looks good. All I need is to get rid of "Accounts Receivables"? How can i do that? 

QuickBooks Team

Re: Deposit alone without applying to an invoice

I'm happy to let you know why your Receive Payments is still in your Accounts Receivable (A/R) account, YasirParvez.

 

Here's how it works: When you create a Receive Payment to a customer, this deducts the balance of your A/R account. Then, this becomes an open credit to that customer and it'll stay on the AMT PAID side of that account even if you deposit it.

 

On the other hand, when you create an invoice to that customer, the invoice amount will post to the AMT CHRG (opposite) side of that account. Both transaction will balance you A/R, but you still need to link them to close those transactions. This also means both of them will always stay in that account.

 

I'm just curious, if there's no invoice, what is this payment for? Thanks in advance.

Highlighted
Community Contributor *

Re: Deposit alone without applying to an invoice

Thank you Jess T. 

 

I am not an accountant. Just a treasurer of a very small non-profit organization and the payments were donations. I will create invoices to balance these payments. 

Established Member

Re: Deposit alone without applying to an invoice

I folllowed the deposit instructions  for "depositing w/o invoice"  and  clicked enter, the deposit would not happen.  Basically, these deposits are from tenants that rent a space in the building I have my business.

QuickBooks Team

Re: Deposit alone without applying to an invoice

Hi leftoutdoor

 

You could set the tenants up as customers and then create a deposit for each tenant/customer, ensuring the bank account you are receiving the money in to is entered in the account box and you select the date it was received.

In the 'Add funds to this deposit' section, add the tenant/customer in the received from column, in the account column enter debtors/account payable and enter the amount, in the amount column, save and closed. This deposit will then be allocated against that particular tenant/customer if you wish you could then use it as a payment if you decide to create an invoice for the tenant/customer.