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Level 1

For every deposit there is a debit for the same amount

The bank account I am reconciling mostly has deposits from credit cards using the Square. I upload the transactions into the bank account. Reconciling month to month seems to be ok but for every credit card deposit there is a debit (payment), for the exact same amount in which I am obviously not clearing and so it's left outstanding. I'm not sure why that is. Can I just delete them to clean up the reconcile feed? I've attached to show you what I have left outstanding. I've reconciled up until July so the March and April debit are mute. I have many of the debits that are just hanging out and I want/need cleaned up. Not sure if I just delete them if it effects anything else. Thanks for any and all input!

5 Comments
Highlighted
QuickBooks Team

For every deposit there is a debit for the same amount

We can exclude those transactions, Akdesign.

 

If we have duplicate and uncleared transactions in our Banking page, we can simply use the Exclude feature to get rid of it. This is also used to keep a personal expense out of your business finances. I'll guide you on how to do it.

 

Excluding credit card or bank transactions:

 

  1. Select Banking from the sidebar menu.
  2. Click the Banking tab.
  3. Choose the appropriate account.
  4. Click the For Review tab.
  5. Select the checkboxes of the transactions you want to exclude.
  6. From the Batch actions drop-down, choose Exclude Selected

Excluded transactions are listed on the Excluded tab for reference or review, but they aren't tracked or reported as part of your business finances and don't appear in any associated account registers or reports. 

 

If you want to completely eliminate the transaction, you can delete them selecting the Delete option from the Batch Actions in the Excluded tab.

 

In case you've accidentally excluded a transaction, you can easily include it again.

 

You're can always drop a post in the Community space if you need assistance in managing your bank transactions. We'll take care of you.

Highlighted
Level 1

For every deposit there is a debit for the same amount

It wasn't in the "Review" section. It is within the bank reconciliation. 

Highlighted
QuickBooks Team

For every deposit there is a debit for the same amount

Thanks for your reply, Akdesign.

 

When you see duplicate transactions in the Reconcile page, it's possible that they were added from the Banking section or recorded manually in QuickBooks. 

 

If they're added from the Banking page, then you can undo these transactions by following these steps:

 

  1. Go to Banking > Reviewed tab.
  2. Find the transaction that has the same amount and click the Undo link. The transaction will be added back to the For Review section.

Once done, go back and reconcile your account again. You can also follow the steps provided by my colleague KlentB on how you can exclude the transactions.

 

To delete a transaction in QuickBooks Online, you can check out this article for the steps: Void or delete transactions in QuickBooks Online.

 

I'm also adding this article for reference: Reconcile an account in QuickBooks Online.

 

I'll be around if there's anything else you need. Have a good day!

Highlighted
Level 1

For every deposit there is a debit for the same amount

Those items are not in the reviewed tab to "undo". The odd thing is that it shows the "type" in the recon page as a deposit - but it's a payment therefore not actually a deposit. 

 

Highlighted
QuickBooks Team

For every deposit there is a debit for the same amount

Let me shed your confusion, @Akdesign.

 

The customer's downloaded payment transaction is the same as a deposit in QuickBooks Online.

 

However, it depends on the account category you selected. If you select the bank account as an Account detail, this will show as Payment and shows Deposit on the Bank register.

 

You’ll want to select the appropriate account to clear this. You could use your Square account as a category, but I recommend reaching out to your accountant for assistance.


To learn more about managing your QuickBooks account, feel free to visit this article: Help articles.


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