matching a debit and credit on banking

3 replies
20 views

I have an invoice in the review section that i want to attach to a debit and credit in banking. The invoice matches the two entries (ie. one debit and one credit)?

QuickBooks Online

Ashleigh1

Level 14

Hello Nikki52,

Welcome to the Community page,

In order to help you what does the debit relate too? Is it a discount or refund or something else?

Nikki52Author

So i have a supplier deposit invoice for £200 (no VAT) which is then rebated in full with a refund for £200 then the actual invoice for £145.73 (includes VAT) has been sent. But in the online bank feed i have a debit of £200 and a credit for the difference of that and the £145.73 ie a credit for £54.27. I am not sure how to process this?

Nikki52

Anonymous

Thanks for a prompt reply and detailed information, @Nikki52.

Based on your statement above, the amount of £200 has already been refunded back to your customer. To match your transactions from QuickBooks Online to your bank feeds, you’ll want to make sure that the deposit is properly recorded in your bank to match the debited amount.

I also recommend you reach out to your accountant for experts’ advice and also for another way of recording this transaction.

Furthermore, I added these articles for your reference when categorising and matching transactions and reconciling your account.

Let me know if you need more help with sales transactions. I’ll get back to you as soon as I can. Stay safe!

Sign up

Login with SSO

Let's get you signed in

Login with SSO