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WayneMead
Level 2
posted
‎August 01, 2024 02:00 PM
last updated ‎July 31, 2024 9:00 PM

QuickBooks splits bank transactions :(

QuickBooks online splits batch payments and receipts into multiple bank transactions. This is very poor accounting and is unacceptable.

If I pay 3 suppliers say $50,000 $30,000 and $20,000 in a batch, I expect to see a payment of $100,000 going out of my bank account so that it matches the statement.

Likewise, if I use the bank feed and match a receipt to the 3 invoices that my customer paid, I expect to see the amount that was deposited to my account, not 3 separate deposits.

I think QuickBooks needs some accountants on staff to explain basic accounting because this is simply unacceptable. Not only does it force us to add transactions together to match the actual statement amount, it is simply very poor record keeping.

Not good enough QuickBooks!

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2 Comments 2
IntuitSheila
Level 8
‎August 01, 2024 03:52 PM

QuickBooks splits bank transactions :(

Hi Wayne,

 

I appreciate the product feedback you have about the amount downloaded after processing ABA batch file in QuickBooks Online. Know that the amount downloaded is based on the bill amount. 

 

Our development team is constantly working to improve the product and appreciates the help of users in bringing things like this to their attention. I can pass along all the suggestions you have to the appropriate channels so you're able to reach a point of resolution as quickly as possible. As soon as an update is received, I will be happy to update this thread and let everyone know so that you can enjoy this feature.

 

I recommend also submitting product feedback through QBO by clicking on Settings icon and click on Feedback. 

 

The Community is around the corner if you have more questions about QuickBooks Online. You have a wonderful day.

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WayneMead
Level 2
‎August 01, 2024 04:13 PM

QuickBooks splits bank transactions :(

Hi IntuitSheila,

Thanks for your reply.

The bill payments in Accounts Payable (the supplier account) should be the bill amount.

However, bills don't come out of the bank, payments do. A batch payment occurs when a large sum is withdrawn to pay multiple suppliers. QuickBooks should show one amount coming out of the bank, and that amount should tie to the statement always.

Kind Regards,

Wayne

 

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