I created a QBO App that brings in the transactions from our Squarespace shopping cart via api run. Once I get the bank feed deposits from WorldPay, I match them up to the imported transactions. I could skip that part and exclude the WP deposits from Bank Feed, but matching gives me an extra confirmation (although I do match up during the bank reconcile process too).
Matching is easy except when WorldPay takes money due to refunds, then the bank feed won't offer invoices to match to. Thanks
You can account for supplier refunds by following the steps below.
Refund from your suppliers
1. Create a supplier credit (+ icon -> supplier credit)
2. Choose the correct date and supplier and expense account, put in the amount, choose VAT if applicable, save
3. Then click on the + icon again, and choose Bank Deposit, to show that the money went into your bank account
4. Choose the correct bank account on the top left corner, choose the date when the money actually hit your account
5. For Received from choose the correct supplier, for the account choose Creditors, put the amount in, choose No VAT
6. You will be able to match the deposit create above to the transaction on your bank feed
7. you will also have to match the supplier credit and the deposit together, select the plus icon select cheque, enter the payee in the top left had corner the deposit and the supplier credit will appear on the right select add on both and then save.
>You will be able to match the deposit create above to the transaction on your bank feed
That's the problem. QBO doesn't give the option to match a payment to a deposit. If there was a refund for 400 and 2 sales for 150 each, the net 'deposit' was that WP took out 50 from our account. QBO wants to match that to an expense. I want to match it to 2 sales and 1 refund. Any way to do that?
If you are receiving a net amount after WP have taken a percentage/commission you will have to allocate any applicable invoices to to the undeposited funds account, for the full amount, rather than your bank account > when you receive the net amount you will need to create a bank deposit > select the invoice/s that relate to the net amount > in the add funds to the deposit section/account column enter/create the WP fee/expense account > enter the amount in a - figure > save you can then match the deposit/the net amount to your banking screen
Hello Bernt, You can set up banking rules(https://quickbooks.intuit.com/learn-support/en-us/banking-topics/how-to-set-and-use-banking-rules-fo...) to automatically categorise the transactions when they come through the banking section and you can select to auto-add with that rule. Any Q's on the link we included just come back to the Community.