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How to match a deposit to an invoice when the transaction fee has changed the amount received?

I invoiced a customer and they paid via QB CC payments. The payment just posted to my bank minus the transaction fees. The customer invoice still show's as paid but not deposited. The deposit transaction shows up in For Review. When I click on the deposit to select find match it doesn't find the invoice...  How do I match the deposit to the invoice when the transaction fee has changed the amount received? Can this be done automatically since it was all done via QB Payments? 

 

 

(Title has been edited by moderator for clarity)

Best answer 12-14-2017 01:00 PM

Accepted Solutions
Established Community Backer ***

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

Hi Mattmcla, 

 

I'd love to lend a hand with getting these payments matched. 

 

First, I'd like to reiterate what you said, just to ensure my interpretation of the issue is correct.

 

1. You invoiced a customer, and they paid you via the Intuit Payments Service.

2. The invoice has been marked as paid in full but the payment does not show as deposited in QuickBooks.

3. In reality, this payment was deposited into your bank account, minus external transaction fees. 

4. You have the bank account (from number 3) connected to QuickBooks Online, and you see the deposit on the banking page in the "For Review" tab. 

5. You would now like to match the imported deposit to the received payment that was entered by Intuit Payments Services. 

 

If this is the case, can you please confirm and then let me know if you're using QuickBooks Online or QuickBooks Desktop?

 

Thanks so much for your time. 

Established Community Backer ***

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

I did some research and found the solution to making sure that fee is accounted for. You can follow these steps when depositing the payment from the Intuit Payments Services.

 

  • Go to the Plus "+" and select Bank Deposits.
  • You should see the payment in the Select Existing Payments section. 
  • Place a checkmark to select the payment to deposit.
  • Under the Add New Deposits section enter the fee charged to you as a negative amount.
  • Under the Account section, select the Expense account you use to track these fees.
  • Verify that the deposit amount is correct.
  • Then click Save.

Please let me know how this goes for you. 

16 Comments
Established Community Backer ***

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

Hi Mattmcla, 

 

I'd love to lend a hand with getting these payments matched. 

 

First, I'd like to reiterate what you said, just to ensure my interpretation of the issue is correct.

 

1. You invoiced a customer, and they paid you via the Intuit Payments Service.

2. The invoice has been marked as paid in full but the payment does not show as deposited in QuickBooks.

3. In reality, this payment was deposited into your bank account, minus external transaction fees. 

4. You have the bank account (from number 3) connected to QuickBooks Online, and you see the deposit on the banking page in the "For Review" tab. 

5. You would now like to match the imported deposit to the received payment that was entered by Intuit Payments Services. 

 

If this is the case, can you please confirm and then let me know if you're using QuickBooks Online or QuickBooks Desktop?

 

Thanks so much for your time. 

Experienced Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

You have it exactly right. I'm using QuickBooks Online. Thank you so much for your time.

Established Community Backer ***

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

It's my pleasure. 

 

First, I'd like to ensure the attached payment is shown as deposited. You can do this by going to the + icon and selecting Bank Deposit. This is where you'll be able to locate the existing payment, select it using the box to its left, and then Save

 

Now that it's deposited, please go back to the Banking screen and see if you're able to match the payments. It's likely that QuickBooks will not find it for your because the amounts are different. If this is still the case, you have the ability to exclude the imported transaction. This can be done on the banking page by checking the box to the left of the transaction, clicking Batch Actions, and then choose Exclude Selected

 

I look forward to hearing how this goes for you. 

 

Experienced Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

So, I can see how that marks my invoice as Paid, but there is no way to associate a deposit with an invoice? How is the transaction fee being accounted for?

Established Community Backer ***

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

I did some research and found the solution to making sure that fee is accounted for. You can follow these steps when depositing the payment from the Intuit Payments Services.

 

  • Go to the Plus "+" and select Bank Deposits.
  • You should see the payment in the Select Existing Payments section. 
  • Place a checkmark to select the payment to deposit.
  • Under the Add New Deposits section enter the fee charged to you as a negative amount.
  • Under the Account section, select the Expense account you use to track these fees.
  • Verify that the deposit amount is correct.
  • Then click Save.

Please let me know how this goes for you. 

Established Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

I'm having the same problem however I've been using QuickBook payments through stripe for a while and all the transactions or automatically matching and deducting the fees. However, about 2 weeks ago it stopped automatically matching him and I'm having the same issue. Is there a issue that has come up with that feature? I am also using QuickBooks Online
Established Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

I'm having the same problem however I've been using QuickBook payments through stripe for a while and all the transactions or automatically matching and deducting the fees. However, about 2 weeks ago it stopped automatically matching him and I'm having the same issue. Is there a issue that has come up with that feature? I am also using QuickBooks Online
Active Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

I am having this problem, but this solution is not working for me.   When I go to add a new bank deposit as you instructed, the deposit is not showing up there for me to select.  Please help, I would have thought getting paid through quickbooks the system would be smart enough to recognize and catagorize these transactions itself...

Experienced Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

I am having this problem.

 

Additionally, it would be a waste of time to have to manually create the bank deposit when the transaction itself represents the bank deposit.

 

Why not just show the invoice or payment received in the matching list and then we can use the resolve difference tool to add the bank fee expense as a negative amount?

 

This is so frustrating!

QuickBooks Team

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

Hi there, @Kerley425,

 

I'm here to help match the deposits coming from QuickBooks Payments.

 

There aren't any issues  with the automatic matching features in QuickBooks Online. If the transactions are still not automatically matching and deducting the fees up until now, you can try manually doing it.

 

Here's how:


1.    Click Banking on the left panel.
2.    Make sure to select the correct bank from the Bank and Credit Cards drop-down menu.
3.    Locate the bank transaction, then click it to expand.
4.    Click Find match.
5.    Select All from the Show drop-down menu.
6.    Set the From and To dates.
7.    Select the invoices/payments to match.
8.    Click Save.

 

Here's an article in case you need a reference: https://community.intuit.com/articles/1164872

 

Please let me know how this goes. I'll be here to help however I can.

QuickBooks Team

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

Hi there, @seanmasonmusic,

 

Let's check why you're not seeing the deposits.

 

If you're not seeing the payments in the Select Existing Payments section, the payments may been deposited directly to the bank instead of going to the Undeposited Funds account. Here's what you'll need to do so you can add the fees to the deposits:

 

  1. Click Accounting on the left panel.
  2. Locate the bank account and click View register.
  3. Locate the payments and click them, one at a time.
  4. Click Edit.
  5. Select Undeposited Funds in the Deposit to drop-down menu.
  6. Click Save and Close.

 

After that, you can follow the same steps provided by @AliciaRoy on how to deposit the payment from the Intuit Payments Services.

 

If you need further assistance, don't hesitate to let me know and I'll be glad to help.

QuickBooks Team

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

Hi there, @cordoor,

 

The Resolve the difference option when matching transactions in the Banking page is also another way to add the processing fees. If you choose to go through to this process, you can do and I've added this article to guide you through the complete steps:

 

Resolve the difference in a matched transaction

 

If you have additional questions about matching transactions, let me know and I'll help however I can.

 

Experienced Member

Re: Match a downloaded bank deposit to an invoice where a QB Stripe fee has effected the deposit ...

We have multiple invoices which all contain the same ammount. I am worried that finding match is incorrect as it only matches the latest transaction to the name.  Can anyone confirm that when it finds a match there is a deeper algorithym that matches the correct payment to the correct customer?

Thank you all for your time.


Warmly,
Kai

Super Explorer **

Re: How to match a deposit to an invoice when the transaction fee has changed the amount received?

Add deduction for merchant processing fee to customer deposit.JPG

Super Explorer **

Re: How to match a deposit to an invoice when the transaction fee has changed the amount received?

1. Receive payment for customer invoice to "undeposited funds"

2. Go to "Bank Deposit" and add to the deposit the merchant processing fee to the expense account you have setup for this expense as a credit amount to reduce the deposit total

3. Make the deposit on the date it went into the bank account

4. Match the deposit in your bank feed

Community Host

Re: How to match a deposit to an invoice when the transaction fee has changed the amount received?

Thanks ^ @reginamarie!

 

@KaiBates, essentially, when you "make a deposit" with the transactions sitting in your Undeposited Funds, you can offset deposit and processing fees by adding individual transactions as lines item in the "Add funds to this deposit" section at the bottom. You can call them Bank Fees (I recommend including the name of the bank) or whatever you'd like, just make sure the fee goes into the same account as the associated transaction so the total (with the fee) now matches what's on your bank statement. 

If you need more step by step instructions, we wrote an article about making deposits. Hope this helps!