How to apply USD Payments for USD invoices

Hi there, Bessie1.

It's nice to see you back here in QuickBooks Community. I also appreciate you for providing detailed information with your concern about missing transactions in the QuickBooks reconciliation but are on the bank statement.

Since you've confirmed that you excluded the entries, this could be the reason the transactions do not show up on the reconciliation. That said, I 

recommend undoing those excluded transactions so they'll go back to the For Review section.

Here's how:

1. Tap on Banking at the left panel. Then, select your bank account from the result.
2. Go to the Excluded tab.
3. Choose some transactions that you want to undo. Then, click the Undo link.

Once done, you can create a deposit to record the $995 invoice payment that you've already recorded as the amount received. Then, put the $5 fees on the next line item as the negative amount so you're able to match this with other downloaded transactions. Follow the steps below.

1. Go to + New > Bank Deposit.
2. Select the bank account where you want to deposit the money.
3. From the Select payments included in this deposit section, put a checkmark on the payment you want to deposit.
4. Under Add funds to this deposit, select the customer's name from the Received From column.
5. Select an expense account from the Account column, and enter the fee of $5 as a negative amount.
6. Click Save and close.

After that, you can now match the deposit to the payment posted on the Banking page. Please refer to this article to see the process: Categorise and match online bank transactions in QuickBooks Online.

Once everything is good, go back to the reconciliation page and you'll able to view your complete transactions. With this, you can now reconcile your USD bank account. You can click this article to see the detailed steps to successfully finish the process: Reconcile an account in QuickBooks Online.

Let me know if you have any additional questions. I'm here to ensure your continued success.

Thanks for the response.

This doesn't quite work for me as when I get to this point (select payment...)

Go to + New > Bank Deposit. Select the bank account where you want to deposit the money. From the Select payments included in this deposit section, put a checkmark on the payment you want to deposit.

There is no option to select the payment to set the deposit off against, meaning that when I post the deposit, it is not matched off against the invoice in Debtors

How do I get the option to select the payment?

Thanks

Hello Bessie, In order for the above to work the invoice itself in the receive payment you would need to select the undeposited fund's account, This will then populate in that field in the bank deposit page for you to select and then create the expense you need to deduct from that amount for the fee. Any queries just reply back to this thread.

Thank you - that has helped.

Please could you help me on posting a USD payment to a USD supplier?

I have an invoice for $800. This has been paid through the bank and $804.17 has been taken from the bank ($800 for the invoice and $4.17 bank fees). I have posted the supplier invoice for $800 in creditors. How do I post the bank payment in order to clear the creditor of $800 and post the $4.17 to bank charges?

Thanks

Hello Bessie1, So if you have an additional expense for the fee you can either do the expense separately to show the fee amount and then matching it in the banking page  or you can edit the bill to add in the fee as a line item, save it then match it on the banking page. 

Thanks Ashleigh,

How do I actually post the payment against the creditor as it doesn't come up as a "match" in the for review section of banking. Do I have to go to make a payment to clear the invoice against the creditor? Sorry - I don't know how to match the invoice against the creditor and then post the charges?

Hello  Bessie1, you will need to exclude the transaction in the banking section as it will not come up with a match with the bill being a different amount to the money received. You can do the separate expense for the fee however which will mean the bank account balance and expenses are correct.

thank you!