Receiving one payment for multiple invoices

Hi Scott PNZ, thanks for joining the Community

You can record a payment received that has incurred fees with a bank deposit. To do this:

1. Open each invoice individually and select Receive payment

2. On the receive payment screen, set the Deposit to account to Undeposited funds (this is a default account in QuickBooks used for holding customer funds)

3. Compete all other fields on the Receive payment screen as you see fit and save

4. Select + New > Bank deposit and select the bank account that the payment was received to and the payment date 

5. Under Select the payments included in this deposit, tick all of the payments that apply

6. Scroll to Add funds to this deposit. On the first line, select the expense account that you're using to track fees under Category and enter the Amount as a negative (-) 

7. Check that the bank deposit amount totals the amount received then save & close

You can now match this in the banking feed if you have the account connected in QuickBooks. 

Thanks for the reply @GeorgiaC and for trying to help. Unfortunately, when we followed your last step in the process and matched this in the banking feed (after following all of your other steps first, it now puts our bank balance out by the total amount of the two invoices we're trying to clear).

So we still have the same issue sadly - appreciate you trying to help though

I have other options on how you can record these payments in QuickBooks, Scott.

If you've received less than the due amount on invoice because of bank fees, and you need to record this from the bank feeds, create an expense account for bank fees, if you don't have one yet. To do so, follow the steps outlined below:

1. Go to Transactions and select Chart of accounts.
2. Select New.
3. In the Account pop-up, select Expenses from Account Type dropdown.
4. Select Bank charges from Detail Type dropdown.
5. Enter Name as Bank fees.
6. Select Save and Close.

Once done, you can resolve the difference between the invoice and the payment when matching from your bank feed. Here's how:

1. Go to Transactions, then select Bank transactions.
2. Select the bank account with the transaction.
3. Locate and select the relevant transaction on the For review tab.
4. Select Find match.
5. In the Match transactions window, checkmark the box for the appropriate Invoice.
6. Select Resolve to open Add resolving transactions.
7. From the Category dropdown, select the Bank fees expense account you created.
8. Enter the Amount of the bank fee.
9. Select the applicable Sales Tax.
10. Select Save.

However, if you're still having issues with bank charges when receiving payments from your customer. you'll want to create a journal entry to record the bank charges and settle the invoice. I've provided the steps below:

To record bank charges:

1. Select + New.
2. Select Journal Entry. Then, enter the Journal Date.
3. Under the empty table enter the following double entries:
   • First line, Account: Trade and other receivable / Accounts Payable, Credit: Amount, Name: Customer name
   • Second line, Account: Bank charges expense account, Debit: Amount
4. Select Save and Close.

To settle the open invoice with the Journal Entry:

1. Go to Sales then select All sales.
2. Locate the invoice which has incurred the bank charges.
3. Select Receive payment on the top right of the invoice.
4. Under the Receive payment page, tick to select the invoice and the Journal Entry (located at the second table below)
5. Make sure the Amount received is the correct (total invoice amount - bank charges = Net amount received)
6. Select Save and close.

Moreover, you may need to review your accounts to make sure they match your bank and credit card statements. To know more, check out this article for more details: Reconcile An Account In QuickBooks Online.

You can always get back to us if you have any questions when recording payments for multiple invoices. We're always here to help you anytime of the day.