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mjhlivatino
Level 2

Banking - issue with deposit and withdrawl coming across together

i have what appears to be $110 in spent column on banking page.  this $110 represent a $150 refund and then two payments made which equals $40 - i cannot match this and get it out of the banking page - because it appears as though you cannot match a combination of payments and deposits?  how can i match this $110 that came across from the bank (which was from Sports Engine - refund plus two payments)?

Solved
Best answer October 13, 2017

Best Answers
AliciaRoy
Level 8

Banking - issue with deposit and withdrawl coming across together

Hi jlwrabbit, 

 

I appreciate you reaching out for help with the matching feature. 

 

When deposits are imported from a connected account, the program looks for other sources of money coming in to match that deposit to. Since a bill is money-out, this is not a type of transaction that'll be listed: https://community.intuit.com/articles/1164872. 

 

Here's where the article clarifies what's matched to a deposit: 

 

"For bank deposits and credits, it looks at:

  • Payments received against invoices (not the invoices themselves, but payments received against them, as on the Receive Payment page)
  • Sales receipts
  • Deposits or payments you entered yourself in the bank or credit card register in QuickBooks Online
  • Deposits you entered from Create (+) > Bank Deposit page
  • Journal entries and other positive or credit transactions you created in QuickBooks Online
  • Open invoices and partially-paid invoices"

I'd be happy to work with you to ensure everything is recorded. First, can you please let me know if the bills are being imported from your account as well? 

 

I look forward to your reply. 

View solution in original post

8 Comments
AliciaRoy
Level 8

Banking - issue with deposit and withdrawl coming across together

Hi mjhlivatino, 

 

The banking page can take some time to get used to, and I'm here to help you learn to navigate this feature. 

 

For bank deposits and credits, QuickBooks Online looks at payments received against invoices, sales receipts, and several other transactions. It's also possible to match multiple transactions to the single transaction that came through the banking page, as long as the amounts are equal. In this case, it sounds like the program sees the $110, so as soon as you match it to the existing refund, you won't be able to add additional payments, as that'd throw off the balanced amount. The following article has more information on the matching process: https://community.intuit.com/articles/1164872. I recommend giving that article a good read to become familiar with the process. 

 

If you have any questions along the way, I'm always happy to lend a hand. 

jlwrabbit
Level 1

Banking - issue with deposit and withdrawl coming across together

AliciaRoy, maybe you can help me out. Instead of Paypal deposting money in to my checking account as I receive it, they decided to keep it in my Paypal account so I received a few deposits and made a few payments from PayPal, then money was transferred. I am trying to match it up but when I try to match the transactions, the banking page only pulls up my sales and not my bills. I need both in order to make this truly match. What do I do?

AliciaRoy
Level 8

Banking - issue with deposit and withdrawl coming across together

Hi jlwrabbit, 

 

I appreciate you reaching out for help with the matching feature. 

 

When deposits are imported from a connected account, the program looks for other sources of money coming in to match that deposit to. Since a bill is money-out, this is not a type of transaction that'll be listed: https://community.intuit.com/articles/1164872. 

 

Here's where the article clarifies what's matched to a deposit: 

 

"For bank deposits and credits, it looks at:

  • Payments received against invoices (not the invoices themselves, but payments received against them, as on the Receive Payment page)
  • Sales receipts
  • Deposits or payments you entered yourself in the bank or credit card register in QuickBooks Online
  • Deposits you entered from Create (+) > Bank Deposit page
  • Journal entries and other positive or credit transactions you created in QuickBooks Online
  • Open invoices and partially-paid invoices"

I'd be happy to work with you to ensure everything is recorded. First, can you please let me know if the bills are being imported from your account as well? 

 

I look forward to your reply. 

View solution in original post

jlwrabbit
Level 1

Banking - issue with deposit and withdrawl coming across together

I create the bills in QBO. They are not imported. 

AliciaRoy
Level 8

Banking - issue with deposit and withdrawl coming across together

Thanks for the clarification. 

 

Since deposits are money coming in and bills are money going out, what exactly are you trying to match those bills to? I want to ensure we're on the same page, so please let me know and I'd be happy to help from there. 

jlwrabbit
Level 1

Banking - issue with deposit and withdrawl coming across together

Is there a way to contact you directly? This may be difficult to keep going back and forth in a chat. I'm going to give you an example to keep this simple in the meantime. Paypal didn't transfer the money from payments as soon as we received them on all of our payments. Some of the payments were left in our Paypal bank and bill payments were also taken out of the Paypal bank. I'm going to use even numbers to keep this simple. Say, we rec'd payments of $25, $100, and $75 then a payment was taken of $50 so only $150 was transferred to our checking account from our Paypal bank. Now, I need to match the $150 in my banking screen to to the payments, but it doesn't match because the payments total $200. 

AliciaRoy
Level 8

Banking - issue with deposit and withdrawl coming across together

Thanks so much for the clarification. 

 

I'm currently able to assist through this Online Community as well as through Direct Message. The QuickBooks Online (QBO) support team can be contacted by calling in: https://community.intuit.com/articles/1145770.

 

If PayPal was connected to the program, then the entire $200 deposit would've been imported into QBO, as well as the $50 bill payment. In this scenario, you'd be able to match the 3 manually entered customer payments of $25, $75, and $100 to the imported deposit (money-in with money-in). Then you could match the manually entered bill payment to the imported bill payment from PayPal (money-out with money-out).

 

Since you have the bank account connected, not all of your transactions are accounted for. If your bank account is showing a $150 deposit with no other transactions taking place, there's no way for the program to know there was actually a $200 deposit and a $50 payment. In this scenario, you can manually record the 3 individual payments equaling $200, the $50 bill payment, and exclude the imported $150 deposit instead of matching. 

 

If you need help while doing this or have any questions, please feel free to let me know. 

Shoebox
Level 1

Banking - issue with deposit and withdrawl coming across together

Hi mjhlivatino, 

 

Were you able to fix your negative deposit?  Could you please share step by step how you did it?

 

 

Thank you

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