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Level 2

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

 
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Best answer 12-13-2018

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Level 15

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

I see a Checking account and a Credit Union account. The Credit Union has the $435 deposit, and the details screen is showing the Square Fee never selected to any deposit (still waiting in Undeposited Funds). The Checking account cannot reconcile a Credit Union deposit. The Checking account deposit might be that same UF entry not selected back when you did the Credit Union deposit. I cannot tell more from just the two screens.

 

You seem to be working with two Different Bank accounts, though.

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Moderator

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

Welcome to the Community, dn1.

Allow me to share a little information about reconciling a deposit in QuickBooks Online.

 

I've replicated this in my sample QuickBooks Online account and got the sum of all items within the deposits. If you created another Bank Deposit for each line item, then that is possibly the reason why it shows as a single line item when you reconcile those transactions.

 

Try to review the deposits and check if there are other line items added for that deposit.

 

You may find these articles helpful:

 

For additional help, you can reach out to our Customer Care Team. Agents have the necessary tools to look into your account to locate where the problem is stemming from.

 

Keep me posted if there's anything else you need, I'll be around to help. Have a great day.

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Level 2

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

I'm not sure what steps you're asking me to take, but I just confirmed that these deposits should have multiple line items on them. From reconciling, I see a deposit listed as $.50. When I click on it and click edit, it brings up the screen shot below.

A bit of explanation: We use stripe for credit card processing. We enter the fee on the deposit line at the bottom in negative. Helps us internally track how much we've spent in processing fees. That's what the -$.50 is. But that charge is being shown as the total of the deposit within the reconcile window. I'll try to post the second picture to show you, but we've done plenty of deposits this way before. Something is different this time, either a glitch or user input error. 

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Moderator

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

Thank you for coming back with additional details, dn1.

 

Allow me to jump in to this conversation. The attached screenshot is helpful for me to understand the situation. 

 

When you create a deposit with a fee, you should be seeing only single item in the reconciliation page. Just like the photo below.

1.PNG

 

Have you tried to opening each item to check if they are supposed to be part of the deposit? If they are, you might want to check the customer transaction list to see if they aren't duplicates. Then, you can go ahead and delete them. 

 

It'd also be great to see the second screenshot. Please don't hesitate to post it in this thread. 

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Level 2

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

Thanks for the reply. Yes, each line item in the previous image I posted should be part of the deposit. The image I've posted here is what I see in the reconciliation section. Clicking on that $.50 deposit takes me to the deposit page I shared earlier. For some reason, my reconciliation page is showing me the stripe fee only, rather than the (Deposits-fee=deposit amount) total. Interestingly, it's also changing the fee from negative to positive. So it makes it look like this is a $.50 deposit, rather than a $434.50 deposit. 

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Level 15

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

I see a Checking account and a Credit Union account. The Credit Union has the $435 deposit, and the details screen is showing the Square Fee never selected to any deposit (still waiting in Undeposited Funds). The Checking account cannot reconcile a Credit Union deposit. The Checking account deposit might be that same UF entry not selected back when you did the Credit Union deposit. I cannot tell more from just the two screens.

 

You seem to be working with two Different Bank accounts, though.

View solution in original post

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Level 2

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

That was the problem. The checks in the deposit were set to the general, top level bank total, rather than the individual checking account. Then, the stripe fee was also incorrectly set to the checking account. It should have been set to our stripe fee account. Correcting both accounts gives me the results I expect. 

Thanks for the help! I was scratching my head! 

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Level 15

In reconciling, why are my deposits shown as a single line item, rather than the sum of all the items within the deposit?

What does this mean: "The checks in the deposit were set to the general, top level bank total, rather than the individual checking account."

 

You should never link real, individual Bank accounts, to a common Parent. You cannot manage Banking properly with them Linked. The Chart of accounts is not a reporting perspective, so Banks are not Linked, here. They show under the Bank Type as Cash and Cash Equivalents, when you run the Balance Sheet reporting.

 

"Then, the stripe fee was also incorrectly set to the checking account. It should have been set to our stripe fee account."

 

Stripe should exist as a Bank Type, as well. The Fee account is Expense. Like this:

 

Checking A

Checking B

Stripe

PayPal

Petty Cash

 

Now Stripe sales get deposited directly to the Stripe Bank, because you are waiting on settlement to real checking. Then, the fees you incur are Check Expense out of the Stripe Bank. When they settle funds to Checking B, that is a Transfer; that is not sales or income, again. And now you can manage Funds on hand at PP and Stripe, because they are acting as Financial Institutions to you, so that makes them Each a Bank Type of account.

 

You don't want to ever see this:

Checking (parent) with subaccounts for Wells Fargo Checking and Bank of America Checking.

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