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SprayfoamGuy
Level 1

Cash Withdrawl on Matched Deposit

I'm trying to make a deposit. Use the Match option in the deposit, I can find the 3 payments that make-up the deposit, however, we have a cash withdrawl also on the deposit. How do I account for the cash withrdrawl?

1 Comment 1
BettyJaneB
QuickBooks Team

Cash Withdrawl on Matched Deposit

Good day, @SprayfoamGuy.

 

I got you covered in accounting the cash withdrawal that you made from the deposit that you received.

 

You can enter the withdrawal as a negative amount on the deposit so it will be deducted and the amounts will match based on the payment received. Please check out the sample snip attached to see what the deposit will look like: 

 

From there, you can now match your bank transactions accordingly. You can always utilize this link to guide you in this process: Categorize and match online bank transactions in QuickBooks Online.

 

On the other hand, know that if you want to split one payment to multiple transactions in QBO, you can always follow these steps:

  1. From QuickBooks Online, navigate to the Banking tab and the For Review section.
  2. Click the transaction you need to assign multiple Payees and select Split.
  3. For each part of the split, enter a Category, a Payee, and the Amount. Click Save and add once finished.

Check out this brief video demonstration to see this method in action:

 

Please keep in touch with me here should you need any further assistance, I want to ensure your success.

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