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Level 2

Entering Deposits and Split Transactions

Currently setting up quickbooks for last year until current and have downloaded my bank checking account activity.

My question is regarding deposits (Please see attached 8/1/1

I believe I may have skipped a step.

As you can see in the snapshot I downloaded the deposit from my bank. In the second snapshot I then hit the dropdown below the bank name and split up the deposit accordingly. Since I've been paid already and don't need to send an invoice I think I need to do something else so the deposits will show up as income in reports.  I need sales reports by customer, job cost, etc.  Thinking I need to do something else?

Solved
Best answer February 14, 2020

Best Answers
Highlighted
Moderator

Entering Deposits and Split Transactions

We don't want you to feel that way, JohnT3.

 

I have reviewed the thread together with the screenshot you've provided. The bank deposit is already posted in your income account. If you'll run Profit and Loss or any Income report, you'll see these amounts.

 

Here's how:

  1. Click Reports on the menu.
  2. Select Company & Financial, then Profit and Loss Standard.

You can customize these reports, check this article to know how: Create, access and modify memorized reports.

 

If you got additional questions. don't hesitate to reply on this thread.

View solution in original post

8 Comments
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QuickBooks Team

Entering Deposits and Split Transactions

I can help you in handling the deposits, JohnT3.

 

We can add associate the deposits to an income account so that they'll reflect as an income in your reports. I'll guide you how:

  1. Select Banking from the top menu bar.
  2. Choose Bank Feeds.
  3. Select the appropriate bank account.
  4. Click the Transaction List button
  5. Locate the deposit.
  6. From the ACTION column, select Add more details from the drop-down arrow.
  7. Select the appropriate customer from the Receive from, then select an income account from the FROM ACCOUNT column.
  8. Hit Add to QuickBooks to complete the process.

Once done, we can pull up the Profit and Loss Report to check your income. You can follow the steps below:

  1. Select Reports from the top menu bar.
  2. Choose Company & Financial.
  3. Select Profit & Loss Standard.
  4. You can double-click the amount of the total income to view a greater detail of the transactions.
  5. From there, you can view those deposits.

I encourage you to read this article that will help you track where your business stands in terms of income and expenses: Customize company and financial reports.

 

Feel free to tag me in your comment below if you have any other concerns or questions about deposits. I'll always have your back.

Highlighted
Level 2

Entering Deposits and Split Transactions

Hi KlentB,

I skipped the step when the deposits were in the transaction review window. Instead I approved a bunch of deposits with the quick add button then went into the register. Then I went to the drop down in the register and split up the deposit.

Is there a way to go into the register and edit the transaction so that it goes into QB properly. For your convenience I've re-attached a sample of what I did on one of the deposits.

Highlighted
QuickBooks Team

Entering Deposits and Split Transactions

Hello, @JohnT3

 

Once you click on Quick Add, then you can't undo the action for the transactions. You can manually edit each transaction by double-clicking on them in the register. Here's a Community article for more information: Add and match Bank Feed transactions in QuickBooks Desktop.

 

If you need further assistance, please leave me a Reply below. Have a beautiful day.

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Level 2

Entering Deposits and Split Transactions

Hi Ashley H,

I have hit edit on the register and reviewed the article and still can't determine how to fix this problem.  As previously stated, I hit the quick add which can't be undone. This was for a bunch of deposits that I downloaded. I then split the deposits up after they are in the register. So now when I go to do a report (Sales Report by Customer Summary) for example it's blank.  I think they weren't matched into sales or whatever because I skipped the step that you instructed and the article is talking about.  

Maybe I need to do an edit in the register, hit payments, then make a sales receipt or something like that? But somehow that needs to link with my existing splits?

Highlighted
Moderator

Entering Deposits and Split Transactions

Hey there, @JohnT3.

 

It's nice to have you in the Community. You can remove multiple deposits you've approved from the Transaction list window. Let me walk you through how to do it in no time in QuickBooks. 

 

  1. From the Banking menu, go to Banking Feeds.
  2. Click Bank Feeds Center.
  3. On the left pane, select a specific bank account. 
  4. Click the Transaction List button.
  5. On the Transactions List window, mark all transactions you need to undo.
  6. Click the Batch Actions drop-down and select Ignore.

 

That's it! To master Bank Feeds in QuickBooks Desktop, I recommend checking out: Get started with Bank Feeds for QuickBooks Desktop

 

Please let me know if there's anything else I can do to be of assistance. Have a great weekend!

Highlighted
Level 2

Entering Deposits and Split Transactions

Gosh, I'm hitting  brick wall.  Please look at my thread. I've stated twice that I hit quick add in the action drop down from the transaction list and they are no longer there but are in the register at this point. Please review my thread to thoroughly understand. I feel like you guys may be scanning and not getting it. Sorry but if you read my thread and the responses you'll understand my frustration. All answers and referred articles involve what to do with items in the transaction list which are NO LONGER THERE. 

Thanks

Highlighted
Moderator

Entering Deposits and Split Transactions

We don't want you to feel that way, JohnT3.

 

I have reviewed the thread together with the screenshot you've provided. The bank deposit is already posted in your income account. If you'll run Profit and Loss or any Income report, you'll see these amounts.

 

Here's how:

  1. Click Reports on the menu.
  2. Select Company & Financial, then Profit and Loss Standard.

You can customize these reports, check this article to know how: Create, access and modify memorized reports.

 

If you got additional questions. don't hesitate to reply on this thread.

View solution in original post

Highlighted
Level 2

Entering Deposits and Split Transactions

MaryLurleenM,

 I ran a sales by company summary report to test and it didn't show up. However it does show up in the income report which is what I car about.  Thanks so much!

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