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cheese
Level 1

Help - 2 Deposits for Same Day

I'm looking for help with making a particular deposit. Let's see if I can explain this. 

 

On Tuesday we received 2 check payments. One was a large check that was deposited that day. The  other check was not deposited until later in the week with other payments, so now there are 2 deposits associated with the same day's sales. 

 

I have tried matching the large deposit to Tuesday's sales, but it wants to resolve the difference, which exists in the other deposit. Is there a way to apply the payment towards the day's sales without being forced to select resolve? I want to be able to match the banking transactions of the deposits to sales.

 

Thank you. 

4 Comments 4
JonpriL
Moderator

Help - 2 Deposits for Same Day

Hi there, @cheese!

 

I'm here to give you information about matching transactions in QBO.

 

At the moment, matching one customer payment to 2 downloaded transactions is currently not an option in QuickBooks Online. However, I have outlined a workaround for you to get your work done.

 

You can exclude the 2 bank transactions in the Banking page then set the customer payment manually with cleared status in the register. Let me guide you through the steps:

 

Step 1: Exclude online banking transactions

  1. Select Banking from the navigation panel.
  2. On the Banking page, click the For Review tab.
  3. Select the checkboxes of the transactions to exclude.
  4. From the Batch actions drop-down, choose Exclude Selected.

 

Step 2: Manually update the deposit status

  1. Click Accounting from the left navigation panel.
  2. Select Chart of Accounts.
  3. Look for the account where the deposit is added, and click View register.
  4. Find the transaction that needs to be cleared.
  5. To highlight, click on the transaction.
  6. Click on the top line of the transaction in the field between the Deposit and Payment amount.
  7. You can continually click on the status field to get the cleared status (C it is cleared).
  8. Click Save.

 

That's it, @cheese. While the option is currently unavailable, I'd recommend sending this to our engineers. Go to Gear icon then choose Feedback. Your suggestion helps them understand what features should be added in the future.

 

Please feel free to notify me if you have any more concerns with QuickBooks. I'll be happy to guide you.

qbteachmt
Level 15

Help - 2 Deposits for Same Day

Let me try:

 

"One was a large check that was deposited that day."

 

Sales are entered as Sales Receipt; or you previously entered an invoice to show you had an Unpaid sale and this is the Payment for that invoice. Make sure this Flows to Undeposited Funds (a holding account function).

 

"The  other check"

 

Another Sales Receipt or Payment to process for this Other Date. Make sure to use UF, as well.

 

UF allows you to avoid seeing this in the Bank Register as individual entries. You want to make Batched Deposits and control the date of Deposit. That is why UF exists and needs to be used.

 

"was not deposited until later in the week with other payments"

 

When you enter the deposit or get it from Banking Download, you select that the UF transactions in transit are part of this Specific dated deposit. Leave the other entries in UF that are not part of this Deposit you are batching.

 

"so now there are 2 deposits associated with the same day's sales."

 

 

Banking is Not Sales. This is why Sales is Sales Receipt; the Date on the Sales Receipt is Sales. The rest is Banking.

cheese
Level 1

Help - 2 Deposits for Same Day

When I exclude the deposits from Banking, they no longer appear in the Checking register for the Chart of Accounts. 

Anonymous
Not applicable

Help - 2 Deposits for Same Day

Hello cheese,

 

That is correct. After excluding bank transactions from the For Review page, they won't show up in your register. You'll then manually reconcile the deposit. Go to the register and click on the transaction to show the "R" letter. 

 

If you have any questions, please let us know. Thanks! 

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