How do I record the quickbooks verify bank withdrawal and refund?

This is a Net Zero transaction because as they debit and credit the same amount. You can put the debit and credit to an expense account of your choosing such as bank or merchant processing fees.

Thank you

I am trying to verify payroll account. They sent the amount to my bank account that went through today however when I go to verify it there is nowhere to verify. 

Not to worry, Lisa F.  I'm here to make sure you can verify the amount so you can start using the payroll service in QuickBooks Online.

QBO offers two ways for verifying the test transaction. You can either verify it via the Workers/Payroll tab or though the Payroll Settings. I'll show you how to accomplish the task.

To confirm the test transaction via the Payroll tab:

1. From the left navigation panel, select the Payroll tab.
2. Choose Employees.
3. Click Finish payroll tasks on the main Employee's page.
4. Click Verify the test deposit now.
5. Enter the test deposit amount in both boxes.
6. Click OK.

If you haven't seen the New payroll tasks button, you can follow these steps to verify the test transaction:

1. From the Settings icon, select Payroll Settings.
2. Choose Company under Bank Accounts.
3. Select Verify Account, and then enter and confirm the amount.

These steps are sure to help you verify payroll account in no time!

For more details, check out our detailed guide on how to verify test transaction.

Please feel free to get in touch with me here for any additional questions. I'll be around to help you out.

mine verified with just a deposit. how do i record this? Quickbooks desktop

Thanks for joining this thread, quinn1.

Before recording a deposit, you'll want to make sure you've put all the relevant transactions you'd like to combine into your Undeposited Funds account. Once you have a deposit slip from your bank, you'll be able to record the transaction.

Here's how:

1. From your Homepage, click Record Deposits / Make Deposits.
2. In the Payments to Deposit window, choose each payment you want to combine.
3. Hit OK.
4. Access the Make Deposits window, then pick an account to put the deposit into from your Deposit to drop-down list.
5. Review the deposit's total. Confirm your account and selected payments match its slip from your bank.
6. Enter the date of your deposit.
7. Add a memo if necessary.
8. Select Save & Close.

I've additionally included a detailed resource about working with deposits that may come in handy moving forward: Record & make bank deposits

I'll be here to help if there's any questions. Have a great day!

Thank you for your reply

I have this deposit of .04 in my bank feeds, since it is a deposit, but isn't income, I'm not sure how to categorize it from my bank feeds. When I "add more info" to the bank feed deposit the only account that seems to work would be "income" should I just categorize it as income and note that it was a bank verification?

I can walk you through recording the test deposit, quinn1.

When you categorize a bank downloaded transaction, you can scroll through the Category drop-down and select the correct account as to how the transaction is categorized. Then, you can add it if the downloaded test verification amount shows in your bank statement. However, if it doesn't show, you can exclude test transactions so they won't affect your register.

1. Go to the Banking page,
2. Select the bank tile where the deposit was downloaded.
3. From the For Review section, check the test transactions and click the Exclude button.

Then, you can go to the Excluded section to completely delete these transactions from QuickBooks Online.

1. On the Banking page, go to the Excluded section.
2. Mark the test transactions. 
3. Select Delete.

For your next step, you can reconcile your account to review your accounts in QuickBooks to make sure they match your bank and credit card statements.

Please let me know in the comments below if you have any additional questions about the process. I'll be around to help you some more. 

Mine wasn't a net zero amount, i was only credited .04 in my account for verification. How can I apply this credit into my QB so that my bank and QB file match?

Hi @quinn1,

I have some information that will help you handle the test transaction made to your bank.

When you verify the bank account, there should be a test deposit and withdrawal that will happen. I recommend going through your bank statement to have a clearer view of the transactions. There are times it will not directly show zero net amount if there's a delay in clearing amount from your bank.

There's a similar thread regarding how to handle small amounts coming from a bank. I recommend checking out this link for more information about the process, as well as the correct way to enter it in QuickBooks: https://quickbooks.intuit.com/learn-support/en-us/banking/how-to-handle-those-tiny-test-credits-and-....

If you have decided to record them in QuickBooks, be sure to enter two bank transactions. These amounts should be from the deposit and withdrawal to offset and not cause any discrepancies on your books.

If you want to exclude downloaded bank data, here's how:

1. On the left navigation bar, click Banking.
2. Select the account.
3. Go to the For Review tab.
4. Put a checkmark on the transaction.
5. Select Exclude. 

You can also check this article for more details about the test transactions, like how to confirm the small amounts in QuickBooks: Verify test transaction.

Fill me in if you have additional questions about the bank verification process. I'm always here to help. Take care always.

Thank you for your reply. I have checked over my statements multiple times, and this is from the beginning of Aug.  I'm positive there  was only a deposit of .04 and never a withdrawal to verify my account. I know it seems strange, I've done many where it is a withdrawal and a deposit for the same amount, which I would then just exclude from the bank feed downloads. But this time I only have this credit of .04 and I just can't think of a way to equal it out in my QB file so it matches what is in my bank.

I appreciate you coming back with additional details regarding your concern, quinn1.

Since you only have the .04 credit from the banking page, you'll want to exclude the transaction to balance out QuickBooks and your bank statement. You can follow the steps shared by AlcaeusF on how to exclude transactions.

You may also find this article handy to learn more about the process of excluding downloaded transactions in QBO.

If you wish to permanently delete them, you can follow the steps below:

1. Go to the Excluded tab.
2. Select transactions to delete.
3. Click the Batch Actions.
4. Hit Delete. 

In addition to that, you visit these links about reconciliation in QBO:

• Reconcile an account in QuickBooks Online
• Learn the reconcile workflow in QuickBooks

Should you encounter issues when reconciling, here's a guide for instructions on how to fix it: Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

You know where to find me if you have follow-up questions about the credit transaction in your bank feeds. I'll be around in the Community and I'm always happy to assist. Have a good day ahead!

Thank you so much for your help. I'm using QB desktop. So I found that there WERE indeed a withdrawal and deposit for the 0.04. The withdrawal came out at the end of the month, and it got categorized as a bank service charge in QB desktop, then the deposit for the 0.04 came in the next month, can i fix this somehow?

Thanks for coming back, quinn1.

If you still have a record of both the deposit and withdrawal when you look at your bank's website, we can create a dummy income or expense account and enter the deposit. Then enter the withdrawal and have it offset the same account. That way you have a record of the transaction but it's +.0.04 and -.0.04 so it's a wash. Here are the steps on how we can create a new dummy account:

1. From the main menu, click Accountant and select Chart of Accountants.
2. Click the Account drop-down arrow below and select New.
3. Select the type of account and click Continue.
4. Enter the name of this account in the Account Name.
5. Then, click Save and Close

To learn more about this one, see the Add, edit, or delete accounts in QuickBooks Desktop article. If your bank does the deposit and then reverses it (when checking your bank website 3 days later) and there is no record of the deposit or withdrawal, then let the transactions download in Bank feeds but don't accept them. Once done, wait till the deposit and withdrawal completely disappear from your banks website and delete them. We can create a backup copy first before deleting any transactions. Here's how:

1. Go to the Banking menu.
2. Select Bank Feeds and then Bank Feeds Center.
3. Find and select the statement from the Items Received From Financial Institution section. Then select View.
4. Match the appropriate transactions. Select Done to match them.
5. Press Yes in the Not Finished Matching screen. You'll return to the Online Banking Center.
6. Find and select the same statement from the Items Received From Financial Institution section. Then tap Delete.

For other options on how to best handle this in QuickBooks, I'd suggest consulting your accountant about this one. Feel free to visit our Banking page for more insights about managing g your bank feeds and reconciling your accounts.

You can always update us after performing the steps provided as I want to make sure this is resolved for you. lease leave a comment on this thread and we'll get back to you. Have a great day. 

I don't have Quickbooks Payroll - how do I record the QBO verify bank withdrawal?

I can help you record the verified bank withdrawal in QBO, 

Molly310.

You can create an expense account for the bank withdrawal. Please ensure to consult with your accountant for further guidance. 

Here's how to create an expense account:

1. Go to + New > Expense.
2. In the Payee drop-down, you can create a vendor or leave it blank.
3. Choose the bank that is connected to the online banking from the Payment Account drop-down menu.
4. Select the Payment date.
5. In the Category details section, choose the bank and enter the test deposit in the Amount field.
6. Click Save and close.

If you need help with other tasks in QBO, specifically banking concerns, you can visit our Help page for tips and browse articles that have detailed information.

If you need anything else, you can post to the Community anytime.

I don't have payroll nor employees and there's no obvious way to verify my customers CC / QB payments; they sit in undeposited funds and my bank has not received the money.

Every search tells me to go to "Payroll" but all that page shows is a series of advertisements asking me to upgrade my service.

I've tried disconnecting my bank account to reconnect it however it errors out every time.  These are CC payments that should automatically go into my bank account.

How do you verify the dang deposits if you DON'T have payroll or employees?  This is a simple and BASIC function of accounting yet QBO doesn't flag an error that the bank account hasn't been verified.

Thanks for joining the thread, @Bobby Bigler.

The speed at which your customer payments are deposited varies on the product you're using and the type of payment received. Thus, having an employee or active payroll subscription won't affect your deposit speeds. 

1. Sign in to QuickBooks Online.
2. Go to Get paid & pay and select the Deposits.
3. Click the bank deposit you want to review.

On the other hand, you can go to the Merchant Service Center to review its status. 

1. Sign in to the Merchant Service Center.
2. From the homepage, click Activities & Reports and then Deposits.
3. Select the date range in the Dates field.
4. Click Search.

If there's an issue with a deposit, you'll see Withheld or Batch Deposit Returned in the Status column. Select the arrow ▼ in the Fee column to review details. You'll get an email from us with steps to fix the issue.

For additional info, you may check out this article: Find out when QuickBooks Payments deposits customer payments.

Moreover, can you kindly share with me the error message you're receiving when attempting to disconnect and reconnect your bank account? This will allow me to provide you with the appropriate solution to address this issue.

Alternatively, you may refer to step four of the article for specific download errors and troubleshooting steps to resolve the banking error.: What to do if you get a bank error or can't download transactions in QuickBooks Online.

Fill me in if you have further questions about customer payments or anything else about QBO. I'm always around if you need any help.

I have QB Desktop and just set up Merchant Services for the first time so I can do credit cards. 

I have the two tiny deposits but cannot find where I enter those to verify the bank account is mine/good.  Where do I go to verify the bank account?  Where do I enter the two tiny deposits?  This is not for payroll, it is for credit card services.  

I have QuickBooks Desktop and just enrolled in Merchant Services for the first time.  I am trying to find WHERE to enter the two little deposits to verify my bank.  I cannot find it anywhere.  Like the previous query, all I can find is how to verify for payroll.  I need to verify for merchant services.  Help!

Thanks for chiming in on this thread, @Anne T. Let me share details about test deposits when signing up for Merchant Services in QuickBooks Desktop (QBDT).

During the first setup, test deposits usually happen automatically. If it didn't reflect on your end, I recommend reaching out to our customer support team for further assistance in verifying your bank account. To do that:

1. Go to the Help menu and click QuickBooks Help.
2. Select Contact Us.
3. Provide a brief description of your concern, and click Continue.
4. Log in to your Intuit account, select Continue, then Continue with my account.
5. Enter the single-use code you received in your email and hit Continue.
6. Choose between Chat with us or Have us call you.

Additionally, you can run sales reports in QBDT to gain valuable insights into the items you buy and sell, as well as the status of your inventory. This way, you'll have information about your total sales for each product and know what's on hand.

Keep in touch if you have any follow-up questions about Merchant Services in QBDT. We're always available to lend you a helping hand. Keep safe, and have a great day ahead!