How do I split a bank deposit thru bank feed - which consists of 2 or more checks
to give an example - deposit in bank is for $40,000 via bank feed. The amount consists of 2 checks - one from a customer for $35600 (with Invoice #....) and the other is towards rental income for $4,400 (for which there is no specific invoice). I would like to "receive" the $35,600 against the customer invoice and "add" the $4,400 to rental income.How do I do that ?
Hi there, @BTLC.
Thanks for coming to the Community for your concerns. I'm glad to share with you the steps on splitting deposits in QuickBooks.
You can check out this article to get additional information when splitting a bank transaction in QuickBooks Online.
I've added this helpful article in case you need to reconcile an account to compare each transaction on your bank statement with transactions entered into QuickBooks.
Get back to me if you have additional or other concerns. I'm always around here to help you some more.
Much appreciated - I understand the split function but in this case one amount has to pay down an open invoice so I want to "match" that invoice and get it 'paid'. The other amount just goes as a credit to rental - there is no invoice to match. As I understand it - the split function allows me to "categoize" and "add" - but not "match" an open invoice
Thanks for getting back for clarification, @RRath. I’ll provide you with step-by-step instructions on how to consolidate the payments in QuickBooks Online.
We can create a bank deposit to combine the two payments. To do so, you can follow the steps below:
Once done, you can go to your banking feed to match the transactions to your deposit slip. Here’s how:
Also, if the button is not available when attempting to match the transactions, you can click the transaction to expand it. Then, click Find other matches. From there, you’ll have the option to look for the transaction that matches the deposit slip.
Categorize, match, and reconcile your account in QuickBooks Online by checking out the following articles:
Should you have any concerns with transactions, you can always leave a comment below. Have a great day!
Thanks ! But that didnt quite solve the problem. The solution ended up leaving the invoice in question still open. I am looking for a solution where starting from the initial bank feed of $40,000 - I can somehow break out the amount into 2 parts - $35,600 to "match" to an open invoice and the balance to be categorized to a rental income account. By following the bank deposit route I ended up with two seperate line items in the customer account - the invoice still open for $35,600 and a seperate line item showing the deposit of $35,600 - not quite what I was looking for - I need the invoice "PAID" and the depost "closed" . The rental income of course got correctly credited with the balance.
I have the same question.
Was this ever resolved?
I have the same question and have not found the answer yet.
I had the same problem. I think the answer is to open the banking transaction, and choose "match". Match it to the invoice. It wont let you save because he amounts don't match. It prompts you to "resolve" the difference by entering a second account for the balance of the funds. This worked for me (I think).
Thanks to bm1234 I think I figured this out.
1. Select the transaction and click Match
2. Match the one invoice you have and leave the difference
3. Click "Resolve"
4. Find the transaction under your "Resolved" transactions on the Banking page and select "Multiple Transactions"
6. Click on the transaction that you wish to add more detail to
7. Add more detail and save
I tried the resolve payment but this didn't work for me. I had a cheque to pay an outstanding invoice and several other cheques deposited at the same time for different products. There werent enough lines using the resolve option.... I got around it by making a Bank Deposit of all of the other payments and then matching this to the invoice on on the bank feed and then when I used the resolve option the bank deposit showed and I could select it. Very clunky but it worked.
I am trying to figure out how to fix something in our system. We have multiple customers with multiple invoices. We have received checks and deposited them together so for example we deposited two checks, one for one company and one from another. One check is simple and applies to only 1 invoice, but the other check has multiple invoices it needs to be applied to. It is not allowing us to apply it since it was two deposits. Is there a way to correct this? I used to use Enterprise which was a little easier one this aspect so just trying to figure out the loop hole around it. Thanks!
If we will deposit check to the customer, we can record it as bank deposit and the only account we can use is the Accounts Receivable (A/R) and then we assign the customer names and the amounts.
Then, let's apply for the available credit:
When everything is all set, we might want to check out this link for guidance on how to manage your customers' payments and accounts:
You'll have my attention whenever you have any additional queries about invoices. I'm always here to back you up!
Thank you! This worked for us.
Good day, @qzpm150.
I'm glad that the recommended solution here works for you. Please know that you can always reach out to us whenever you need help.
If you want more information about managing your company, feel free to visit our Support page. It contains ways and tips to make sure everything is accurate and organized.
Have a great day, and keep safe!
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