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rodgerff
Level 1

How can I set up automatic recording of online invoice payments to my linked bank account rather than un-deposited funds? I do not see a Record Merchant Service Deposits

 
3 Comments 3
Angelyn_T
QuickBooks Team

How can I set up automatic recording of online invoice payments to my linked bank account rather than un-deposited funds? I do not see a Record Merchant Service Deposits

Thank you for adding a post here in the Community forum, @rodgerff.

 

Allow me to share some information about processing Merchant Deposits.

 

The system sets all merchant payments to be deposited in the Undeposited Funds. That said, you still need to deposit the payment amount. This two-step process ensures QuickBooks always matches your bank records. It also makes your reconciliations much easier.

 

To learn more about accepting customer payments for online invoices, check out the details from this link.

 

I also got this handy article that contains topics you can learn more about managing QuickBooks or payments in the future. You can skim through the information from here during your free time.

 

Post again if you have any other questions. I'm here to help. Keep safe always!

rodgerff
Level 1

How can I set up automatic recording of online invoice payments to my linked bank account rather than un-deposited funds? I do not see a Record Merchant Service Deposits

If I understand correctly, even though online payments are deposited into the linked bank account -- and I hit the "Match" button on the review -- I still need to go to each online payment in the register and manually add it to a deposit for that date to that linked bank account. Why doesn't the "Match" function also record the deposit against the bank account?

RenjolynC
QuickBooks Team

How can I set up automatic recording of online invoice payments to my linked bank account rather than un-deposited funds? I do not see a Record Merchant Service Deposits

Hello, rodgerff.

 

You don't need to manually add the payments if your bank or credit card account is already connected. The process is already a complete record. You just need to match the online bank transactions in QuickBooks Online.

 

I've got these articles for more information:

 

Please let me know if you have other questions or concerns. I'll be glad to help you out. Just post your reply here and I'll get back to you as soon as possible. 

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