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WLLBaseballTreasurer
Level 2

Batch Deposit Matching

We have a baseball concession stand and run periodic tournaments.  We record both cash and credit sales with our square register.  Our account is linked with both our bank and square so every so few days, I update our register with bank transactions and with app (Square transactions).  The square credit card transactions are easy; just download and match.  However, because the Square cash payments come in daily, I cannot seem to figure how to match them to the cash deposit downloaded from the bank as that is lump sum deposit which covers several days of collected cash.  I'm hoping I do not need to make separate daily cash deposits to get both the bank feed and square feed to match.  How do I take that lump sum cash deposit downloaded from my bank feed and match it to the daily cash deposits from the square app feed? 

Solved
Best answer July 14, 2021

Best Answers
MaryJoyD
QuickBooks Team

Batch Deposit Matching

I can share some information about handling your Square and bank transactions, @WLLBaseballTreasurer.

 

To match those square cash payments to that cash deposit downloaded from your bank, I suggest setting your default and bank account to your Undeposited Funds account. Then, create a lump sum bank deposit (for your cash sales transactions), so you’ll be able to match those deposits. 

 

To update your settings:

 

  1. Go to your Apps menu and select Settings under Sync with Square.  
  2. Choose Edit next to Basic Settings to change the default bank and expense accounts or the payment method.
  3. Click Save changes.

 

To record that bank deposit:

 

  1. Go to the + New button and select Bank Deposit.
  2. Enter the bank account in the Account field.
  3. Mark the cash sales transactions that show under the Select the payments included in this deposit section. Make sure you select the transactions that are accounted for the deposit you've made on your actual bank.
  4. Click Save and close.

 

Check these articles for more information about updating your App settings and recording bank deposits: 

 

 

From there, you should be able to categorize and match those deposits from your bank to the one that's in QuickBooks.

 

If you have other questions in recording your Square or bank transactions, let me know by leaving a Reply below. I'm always here to answer them for you. Take care and have a great rest of the day!

View solution in original post

3 Comments 3
MaryJoyD
QuickBooks Team

Batch Deposit Matching

I can share some information about handling your Square and bank transactions, @WLLBaseballTreasurer.

 

To match those square cash payments to that cash deposit downloaded from your bank, I suggest setting your default and bank account to your Undeposited Funds account. Then, create a lump sum bank deposit (for your cash sales transactions), so you’ll be able to match those deposits. 

 

To update your settings:

 

  1. Go to your Apps menu and select Settings under Sync with Square.  
  2. Choose Edit next to Basic Settings to change the default bank and expense accounts or the payment method.
  3. Click Save changes.

 

To record that bank deposit:

 

  1. Go to the + New button and select Bank Deposit.
  2. Enter the bank account in the Account field.
  3. Mark the cash sales transactions that show under the Select the payments included in this deposit section. Make sure you select the transactions that are accounted for the deposit you've made on your actual bank.
  4. Click Save and close.

 

Check these articles for more information about updating your App settings and recording bank deposits: 

 

 

From there, you should be able to categorize and match those deposits from your bank to the one that's in QuickBooks.

 

If you have other questions in recording your Square or bank transactions, let me know by leaving a Reply below. I'm always here to answer them for you. Take care and have a great rest of the day!

View solution in original post

WLLBaseballTreasurer
Level 2

Batch Deposit Matching

Thanks so much! I will give this suggestion a go and come back and mark solved if it works!

WLLBaseballTreasurer
Level 2

Batch Deposit Matching

Hey MaryJoyD,

 

Worked like a charm!  Thank you so much for this solution!

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