Hi - We receive hundreds of membership deposits each month, from members across the country. Our member payment database does not sync with QuickBooks. We receive a monthly report showing these payments with a breakdown of taxes vs membership amounts. We'd like to reconcile all membership payments to one journal entry that we would perform at the end of each month. This would save us a ton of time, rather than entering hundreds of deposits.
To do this, I'm thinking that in the bank reconciliation we would exclude all of the member payments. Then, using our monthly report, we would create a JE breaking out the taxes and membership amounts for the month (these would total the sum of all member payments). Then, we'd go into our bank account GL, find the JE, and mark it as Cleared (C).
