Deposits

Hello CountryBears,

Thank you for reaching out to the QuickBooks Community! Could you share how you set up your deposit? As seen in the screenshot below, you can choose which account you need. 

Before we dig further, though, do some of the customers have a previous credit? Knowing this will aid as well! 

I will be looking out to your response! Until then, take care! 

I see a credit memo back in Dec 2021, for 1 customer; but other customers do not have any credits.

I go to the customer and find the invoice that is being paid and click on "receive payment" under the "act" column.  Another window opens "Receive Payment" and I fill in the Reference Number, Deposit to automatically goes to our bank account, then I click "save and close".

Sometimes, it is done through the "Banking" section, so I can choose the account.  

Thank you so much for your help.

Let me share some information about how the Deposit feature works in QuickBooks Online (QBO), @CountryBears.

It's great to know you were able to resolve the credit memo issue for that customer. Going back to your first concern, the deposits recorded as customer refund instead of accounts receivable depend on how you record the transaction. To post the deposit to accounts receivable, we'll need to choose that account when making a deposit. Here's how: 

1. Click + New Plus icon. deposit
2. Select Bank Deposit.
3. From the Account dropdown, choose the account you want to put the money into.
4. Choose the checkbox for each transaction you want to combine.
5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
6. Press Save and close or Save and new.

Here's an article you can refer to for more details about recording and making bank deposits in QuickBooks Online. If you need to process a customer refund, you can check out this article for more details: Record a customer refund in QuickBooks Online. 

If in the future the customer gave you a deposit for an invoice but changed their mind and backed out of the transaction, we can reverse the deposit. We'll need to give the customer a refund and apply for credit. Here's an article you can refer to for more insights on how to refund a deposit and close an invoice. 

Feel free to visit this link if you need help in balancing your accounts in QuickBooks: Reconcile an account in QuickBooks Online.

I'm just one click away if you need a hand with running your financial reports. You can leave a comment below and I'll get back to you. You have a good one. 

This appears to be something that happens in the backgroun when certain invoices are created, they are saved in the Chart of Accounts Customer Refunds, then when the payment is received it is recorded there as well.  How do I change these invoices from Customer Refunds to Accounts Receivable?  I don't see any options when trying to edit the invoice.

Attached is a Journal Report

Hello there, @CountryBears.

I understand that invoices should be recorded in the Chart of Accounts as Accounts receivable. I'm here to help you resolve this function in QuickBooks Online.

Let's try view to the Journal Report, to see the posting details of your invoice.

Here's how:

1. From the invoice, click More in the Ribbon below.

2. Choose Transaction Journal.

3. See to it that the posting transaction should be Account Receivables from the Journal Report.

Furthermore, if you notice that your invoices have not been posted to AR, we can rename or edit the transaction by heading to the Chart of Accounts.

Here's how:

1. Go to the Gear icon, and find the transaction you need to modify.

2. On the left side, click the dropdown arrow in the View Register.

3. Choose Edit and change it to accounts receivable, Add the Account name and Description 

4. Once done, hit Save.

If the issue persists, I would appreciate it if you can send us a screenshot of the error you encountered with your invoice.

If everything looks good, you can visit this article on how to receive and record an invoice payment in QuickBooks Online.

Get back to us if you're getting the same issue. We are always here to assist you always. Have a nice day ahead, @CountryBears.

I changed the account from Customer Refunds to Accounts Receivable, which they asked if I wanted to merge; I choose yes.  Now all invoices, etc. are in the AR.  Thank you for your suggestions.

Good morning CountryBears, 

I'm so happy that everything worked out for you! If you have any other questions, please don't hesitate to let us know. The Community and I are always here for you! I hope you have a fantastic day.