Four credit card transactions during the month of August were not deposited into my bank account. I use QB to as credit card processing

Hello there, @sari2.

When using QuickBooks Online Payments, the processing of the deposit depends on the payment method. Credit card processing and bank transfers can also have different deposit speeds. For credit card payments, it will take 1-2 banking days. Bank transfer payments take 2-7 banking days.

You'll want to check the transactions in the Merchant Service Center. Here's how:

1. Go directly to Intuit Merchant Services.
2. Go to Activity Reports.

Also, you can find out how long it takes to get payments you process in QuickBooks Online by following these steps:

1. Go to Gear icon ⚙ and select Account and Settings.
2. Select the Payments tab.
3. Review the Deposit Speed section.

However, since the payment deposit is taking longer than usual, I'd recommend contacting our Merchant Services Team so they can verify the status of the payment.

Also, I've collected some articles where you can get more information about payment processing. You can check them below: 

• Find out when QuickBooks Payments deposits your money
• Fix rejected ACH payments or fees in QuickBooks Payments
• QuickBooks Payments Deposits FAQ

Feel free to reach out to me if you have additional questions. I'll be right here to help. Bye for now and stay safe, sari2.

I figured out what the issue is. I had already contacted QB about it because there was a larger than usual expense. After a lot of analysis, they said that it was due to a transaction fee. Turns out - that was incorrect.

What happed is that I processed three credit card payments but I also processed a large return. The amount of the return was greater than the the three sales.

The settlement came through as an expense & the QB system will not allow me to match to the four transactions. I reversed it as an expense, since it is not an expense. So, I am stuck with it sitting in my banking system until I can figure out what to do with it. I do not want to exclude it, because that is not right. By the same token I now have four transactions that are showing as not reconciled. Since it came through as an expense, the system won't let me connect it to the sales account.

It is doubtful that anyone at QB can help with this as they didn't understand it before. Although at least now, I understand where the so-called expense is coming from.

Thoughts on this one? Seems to be a glitch in their program (one of many).

Good job in identifying the issue of the transaction, @sari2. It'll help us transparently resolve the problem.

You have two ways to handle this scenario. I'm pleased to give you the detailed steps to resolve the problem quickly. 

You can match transactions if they have the same type, like sale to sale and expense to expense. That's the reason why you're unable to tie the settlement. 

For the return amount that is greater than the three sales, you'll need to create a Sales Receipt. Then deposit it to the Undeposited Funds account. 

Here's how: 

1. Go to the +New icon and choose Sales Receipts. 
2. Ensure that you select the Undeposited Funds in the Deposit to drop-down. 
3. Enter the details of the sale and hit Save.

Next, formulate a Refund Receipt showing the original refund amount. Follow the easy steps underneath: 

1. From the + New button and select Refund Receipt.
2. Enter all the information with the correct date.
3. The Refund From field has to have Undeposited Funds too.
4. Click Save and new.

Subsequently, create a Journal Entry to move the funds from the Undeposited Funds account to the Bank account. Let me show you how: 

1. Return to the +New tab and pick Journal Entry. 
2. Set the date of the transaction that is the same as the bank posted transaction date.
3. In the first row, select the bank account and enter the total amount in the Credits column. 
4. In the second row, choose Undeposited Funds and type the same amount in the Debits. 
5. Hit Save and close. 

Following this, deposit all the funds you previously created. Once done, go back to the Banking page. You should be able to see the Match option this time. If not, click that transaction row for the refund receipt to find a match.

Otherwise, excluding the bank entry is another alternative way to handle this scenario. After eliminating, let's clear the sales transactions in your register. This way, the transaction will no longer show as not reconciled. Follow the steps below: 

1. Go to the Accounting tab and select Chart of Accounts. 
2. Choose the appropriate account where the sales transaction is located.
3. Under the ✔ column, click the box until the letter C will show. That means the transaction is cleared. 
4. Hit Save. 

Once done, deposit the excess amount to correct the funds. For the complete instructions, check out this link: Record and make bank deposits in QuickBooks.

I've added an article that will help you handle your customer payments, refunds, credits, sales transactions, and other related matters: Sales and customers.

Keep me posted if you need anything else. I'm always right here to help you. Take care, sari2.

This did not work. The bank transaction was still not found. And I do not want to ignore the bank transaction because then it looks like the payments were not deposited in my account & do not get reconciled.

I am not sure why QB isn't matching these. The system normally reconciles all daily deposits & transactions.

I appreciate you for getting back, @sari2. I'm stepping into this thread to share additional troubleshooting steps to isolate the issue you had with your credit card transactions.

I can see that these entries are dated in August and still not showing up on your account. You may want to connect with our Merchant Support to review the transactions. A live representative can look into your account securely and see the possible reasons why entries are still not found and added to QuickBooks.

Otherwise, you can follow the suggested steps by MichelleBh so you can proceed with your reconciliation. Once the transactions are downloaded into the system, you can exclude them to avoid duplicate records.

Additionally, you may review the topics from this link for additional resources while working with your bank entries in the future: Find help with bank feeds and reconciling accounts.

If you have any other follow-up questions, let me know by adding a comment below. I'll be right here to help. Keep safe!