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augd
Level 1

Apply multiple deposits to a single invoice

I invoiced a client. I received two checks totaling the full amount of the invoice, and I deposited both checks. I see the deposits in my Bank Feed. How can I apply the two deposits to the single invoice?

Solved
Best answer May 03, 2021

Best Answers
BigRedConsulting
Community Champion

Apply multiple deposits to a single invoice

Create to customer Payment transactions, one for each payment, and apply them to the invoice.

 

Then deposit the payments.  If you deposited them together, create one deposit with both of them. Otherwise each in it's own deposit.

 

Since you already have deposits, not connected to payments, you can edit them and add the payments using the Payment button at the top, then delete the current deposit detail line so the total deposit is for the same amount.

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3 Comments 3
BigRedConsulting
Community Champion

Apply multiple deposits to a single invoice

Create to customer Payment transactions, one for each payment, and apply them to the invoice.

 

Then deposit the payments.  If you deposited them together, create one deposit with both of them. Otherwise each in it's own deposit.

 

Since you already have deposits, not connected to payments, you can edit them and add the payments using the Payment button at the top, then delete the current deposit detail line so the total deposit is for the same amount.

View solution in original post

augd
Level 1

Apply multiple deposits to a single invoice

Thanks. I'm using QuickBooks Pro, so for your second step ("Since you already have deposits"), I went into record deposits and marked the two payments as received. Then, I went into Bank Feeds, selected the two deposits I had actually made, and chose "Ignore" to delete them. Was that correct?

Rea_M
QuickBooks Team

Apply multiple deposits to a single invoice

You're already on the right track in applying multiple deposits to a single invoice using QuickBooks Desktop (QBDT), @augd.

 

Both the steps you've performed and those given by @BigRedConsulting are correct and will apply the deposits to your invoice. After the process, you'll have to add and match your bank feed transactions. This is to make sure your financial data is accurate. Depending on the banking mode you're using, you can refer to this article for the step-by-step guide: Categorize Bank Feed transactions in QuickBooks Desktop.

 

Additionally, I encourage you to reconcile your accounts every month. This will effectively monitor your income, expenses, and detect any possible errors. You can check out this article for the detailed steps: Reconcile an account in QuickBooks Desktop.

 

In case you have any other issues or concerns about managing your invoices and deposit transactions, let me know in the comments below. I'm just around to help. Take care always.

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