Duplicate Deposits - One as Payment and One as Deposit

I appreciate your detailed context when managing duplicate deposits in your file, jco-remodel. I'll help ensure these transactions always match your financial statements so your books stay accurate.

In QuickBooks Online, some factors affect the balances of your bank accounts. Among these factors are mainly your downloaded bank transactions. The QuickBooks balance is affected by all the transactions in your register, including the ones you haven't reviewed yet. However, the Bank balance is determined solely based on the transactions on the register. 

To help you fix and make sure they're equal, let's ensure to add all entries in QuickBooks based on your connected banking account and consider categorizing these data based on your bank statements. Refer to this guide for more detailed insight: Categorize transactions in QuickBooks Online.

In addition to that, one possible reason why these entries are duplicates is that the imported deposits from your bank are added instead of matching them to the transactions already recorded in QuickBooks. To help you rectify this, refer to these steps:

1. Go to the Banking or Transactions menu and select Banking. 
2. Choose the tile of your bank and go to the Categorized tab.
3. Find the transactions and click Undo.
4. Under the For Review tab, locate the entry and tick the Find match button. 
5. From the Match transactions page, search and choose the duplicate entry, then select Save.

If you need to exclude transactions, tick the corresponding boxes in the For Review tab.

Moreover, if these duplicates are in your banking registers, we can manually delete them to avoid doubling the income. To do this:

1. From the  Accounting menu, select Chart of Accounts. 
2. Find the bank account and click View Register.
3. Find the transactions, then hit Delete.

Once everything looks good, you can start reviewing and reconciling your accounts to make sure they match your bank and credit card statements.

I'm all ears to any additional queries you may have when duplicate deposits and other transactions are in your file. Feel free to reply to this post, and I'll make sure to get the help you need Take care and have a good one!

Thank you for your detailed response! I may be misunderstanding your comment, but it seems the solutions you've provided are for when deposits are simply being duplicated. As shown in my screenshots Quickbooks is "duplicating" the deposit, but making the "duplicate" a payment as opposed to another deposit.

For example:

Everything's exactly the same aside from the amount being put under the "Payment" column instead of the "Deposit" column, as well as the reconciliation status shows the actual deposit as "Cleared - Tentatively reconciled" while the "duplicate" payment transaction has no reconciliation status.

I hope this makes sense!

Hi,

I have a similar issue but the description you gave did not fix my issue. I have a few clients who pay me directly through the QuickBooks online payment system, so the payments come in twice, once through QuickBooks and once through my bank feed. They both are reflected as payments. One gets automatically applied to the invoice, but the other remains in unapplied funds. I have been excluding these from the register in order to have them appear only once, however, on the customer summary, they show a credit balance due to these transactions.

Can you help me resolve this? 

Thank you,

Julie

Thank you for participating in this discussion, jgfields13. I'll chime into this conversation to provide assistance and ensure you organize the payments you receive from your clients through QuickBooks Payments and via your Bank Feeds. I'm committed to guaranteeing you can maintain accurate records and improve your financial management.

You'll need to match the transactions you've received from the Payments system to the ones downloaded in the Bank Feed section rather than excluding them. This process is essential for maintaining precise financial records and ensuring that your books reflect all sales activities correctly. Matching transactions also allows you to reconcile your Payments transactions with your bank statements, identifying any discrepancies or missing data. 

Here's how:

1.  Go to the Bank transactions page.
2. Find the duplicate payment in the For review tab.
3. Click Match.
   
4. Select the corresponding payment.
5. Choose a match if it's correct, then hit Match.

Additionally, instead of manually matching each transaction, QuickBooks can do this work for you automatically. Refer to this article to learn more: Automatically match QuickBooks Online product transactions. 

Thank you for raising these important issues, jgfields13. We're here to support you with any queries you might have about your payments, including how to match or categorize them correctly. Please don't hesitate to leave a comment if you need assistance. We're always ready to help, and I'll make every effort to provide you with thorough and helpful answers to your concerns.   

I have yet another nuance to this issue that I need to resolve.

We use Quickbooks Payments and we take a 50% deposit when our customers confirm they want us to complete their project by using the Go Payments app.  This is before we even import the invoice details into QB. QB creates a Sales Receipt for the credit card processing.

After creating the customer, invoice and project in QB, we then apply a payment to the invoice by going to the invoice screen, selecting receive payment, entering the amount and depositing it to the bank account.

We import transactions from the bank and then match the payment to the bank deposit.  When the work is completed, we follow the same process.  Use Go Payments or sometimes a QB payments link, customer pays and then we receive a payment against the invoice to close it out and match that payment to the bank deposit.

THE PROBLEM: My bank account, customer deposits and therefor retained earnings on the balance sheet are all are duplicating these deposits so they show wildly inaccurate totals .  I presume I should somehow be able to match the GO payment to the invoice - but I can't figure out how to do that.  I don't have similar issues when I deposit cash or checks to the bank.  Any assistance is appreciated.

I appreciate the full details of your concern about your transaction, @asinsimon. I'll chime into this thread to provide assistance and ensure you maintain accurate records and improve your financial management.

Since you will be taking a 50% down payment from your customer before starting their project without issuing an invoice, using the Go Payments app. The transaction will sync as a Sales Receipt in QuickBooks Online (QBO), similar to when using payment links.

After receiving the down payment, you stated that you create an invoice and manually record the payment in QBO to mark it as paid, which has already led to a doubling of your sales income.

Take note that sales receipts cannot be applied to invoices. You will need to manually record the payment to ensure that your invoice is marked as paid.

To fix this, you can delete the sales receipt in QBO, as you have already recorded the invoice and received payments manually.

Here's how you can do it:

1. Go to Sales.
2. Select All sales.
3. In the Type section, filter the Sales Receipts.
4. Look for your sales receipt.
5. In the Action column, select the drop-down arrow.
6. Click Delete.

Moving forward, when using a Go Payments app or QB payments to take the 50% down payment, you should create an invoice for the remaining amount based on your contract with your customer. The down payment will be automatically recorded in QBO as a sales receipt.

For future reference, you can check this article to guide you in running reports in QBO and ensuring the accuracy of your books: Run reports in QuickBooks Online.

If you need some clarification about your duplicate transaction, please don't hesitate to click the Reply button. We are here to help you out. Stay safe!

The question is very simple.  Yet, the "helper" gives an answer that does not apply as the transactions asked about are already reconciled..  Anybody got a better answer?  

Let me provide some information about duplicate deposits in QuickBooks Online (QBO), md20203.

The duplication of income and payment seems to have occurred because the invoice payment was recorded, and at the same time, the downloaded transactions were added to the bank feeds. To prevent duplicates, it's advisable to match the invoice payment with the downloaded transactions.

If the transactions have been reconciled. You'll need to undo the reconciliation of the affected period. With that said, I recommend seeking assistance from an accountant to help you with the undoing process. You can invite them to undo the entire reconciliation using the QuickBooks Online Accountant version's Undo reconciliation feature to unreconciled entries in batches.

On the other hand, if you prefer to manually undo it by yourself, you can follow these steps to undo each reconciled transaction individually:
 

1. Go to the Transactions menu on the left panel, then select Chart of Accounts.
2. Look for the account and click View register.
3. To easily locate the transactions, you can click funnel to customize the dates and
4. Review the check column. If the transaction is reconciled, you’ll see an “R.”
5. Select the box and keep clicking it until it's blank. It removes the transaction from the reconciliation.
6. Click Save.
   
   

Once done, you can now delete the added payment in your download transactions in bank feeds and then match the existing entry to avoid duplicates. Lastly, you'll need to re-do the reconciliation process to ensure that your records are accurate and up to date.

Moreover, I'll share these handy resources with you. These guides will help you run a reconciliation report to review your reconciled transactions and fix any issues with past reconciliations in QuickBooks Online:

• How do I view, print, or export a reconciliation report?
• Fix issues for accounts you've reconciled in the past in QuickBooks Online

Still have questions about duplicate or reconciled transactions in QBO? Just drop a comment below and we'll be right on it. 

My problem is more complex;

Every Transfer from one bank account to another is showing 2 amounts in each account.

How do i fix this; i have tried to delete but its causing alot of issues.

Thanks for chiming in with this detailed information, @Mumbililian. I'm here to ensure your concern is addressed. 

One potential cause of the transfer you made is that you accidentally entered the transaction twice resulting in two amounts in each account. With this, I recommend checking them in your Audit log to ensure you entered the transaction once.

After checking everything, and the issue persists, I suggest logging in to a private browser. This way, we can identify if the problem is related to your browser, which doesn't store any history or form data.

You can use the following keyboard shortcuts based on what type of browser you're using:

• Google Chrome: Ctrl + Shift + N
• Mozilla Firefox: Ctrl + Shift + P
• Microsoft Edge: Ctrl + Shift + P
• Safari: Command + Shift + N

If this works, let's clear the browser's cache to remove its stored files to ensure the program performs efficiently. If you get the same result while using a private browser, I suggest switching to a different one.

Additionally, you may check this article for more information about reconciling your account in QBO to keep track of your finances: Reconcile an account in QuickBooks Online.

If you need help managing your bank accounts, please reach out to the Community. I'll be on the lookout for your message. Take care.