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geckowoods
Level 1

Income payment that inclueds tax or levy? I dont actually recieve the full amount as the levy is paid before payment is recieved.

for example ive been paid $100 but recieve $98 because of levy
bank says $98 how to match payment and add levy as expense
THANKS
1 Comment 1
MariaSoledadG
QuickBooks Team

Income payment that inclueds tax or levy? I dont actually recieve the full amount as the levy is paid before payment is recieved.

Hi geckowoods,

 

Thanks for reaching out to us.

 

After we received payments from an invoice the Undeposited Funds account, the transactions automatically populate in the “select the payments included in this deposit” section at the top of the Bank Deposit screen.

 

You can select the payment as bank deposit and record the levy under the Add funds to this deposit section. Let me guide you through the step.

  1. Click Plus (+) icon.
  2. Select Bank deposit.
  3. Enter the date, then select the payment.
  4. Under the Add funds to this deposit section, enter the tax or levy.
  5. Click Save and close.

Once done, match your bank transaction to your payment. You can also categorse bank transaction using your app: Categorise Bank Transactions in the QuickBooks Online App.

 

Please let me know if you need anything else. I'll be right here to help.