The step you missed is creating a bank deposit for the payment. In QuickBooks Online, the Receive Payment step marks the invoice as paid, but it places the funds into Undeposited Funds or Payments to Deposit until you manually move them to your bank account.
Since the money hasn't arrived at the bank in your books yet, it won't appear on your reconciliation screen. Here's how to move it to the right account:
- Go to + Create in the top left corner.
- Select Bank Deposit under the Other column.
- In the Account dropdown at the top, select the specific Bank Account you are trying to reconcile.
- Look at the Select the payments included in this deposit section. You should see your customer’s payment listed there.
- Check the box next to that payment.
- Ensure the Date matches the day the money actually hit your bank.
- Click Save and close.
Moving forward, if you want to avoid this extra step, you can bypass Undeposited Funds by changing the Deposit to field to your Checking Account when receiving a payment. Use this only for single transactions like wire transfers. For multiple checks, keep using Undeposited Funds so your QuickBooks total matches the lump sum on your bank statement.
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