Matching Square Transactions

You've come to the right place, @feline99. 

I'll help ensure you're able to re-reconcile your Square sales transactions. 

Yes, you can delete the manual deposits in QuickBooks Online (QBO). Here's how to find and delete them: 

1. Go to the Gear icon at the upper right. 
2. Under Your Company, select Chart of Accounts.
3. Locate the account in the Chart of Accounts.
4. From the Action column, select View Register.
5. Select the deposit, and select Edit to open it.
6. Make a note of all the payments in the deposit, or select Print from your browser menu to print a copy of the entire page for easy reference.
7. Select More, then choose Delete. 

After that, you'll need to recreate the deposit from the Undeposited Funds. This way, QBO will recognize the deposits and you can match them to your downloaded transactions. Here's how: 

1. Go to the Plus icon (+) at the upper right. 
2. Under Other, select Bank Deposit. 
3. Select the Date and add all the payments that were on the original deposit. 
4. Choose Save and close. 

Once done, QBO analyzes all the information received from the bank for each downloaded transaction to give you the best possible suggestions for accepting the transaction. You'll need to manually review and accept a downloaded transaction. Here's how: 

1. From the left menu, select Banking, and choose Banking.
2. On the For Review tab, select a transaction to open it.
3. The Description column entry indicates the type of transaction.
4. Verify that the Payee, Category, Class, and Location you specified for the transaction are accurate.
5. Select Add.

Then, you can also mark "R" the transactions to the Bank register to help fix the reconciliation balances. For more information about reconciliation in QBO, here's an article you can check out: Reconcile Accounts. 

The steps above will help you achieve your goal, @feline99. Should you have additional questions about this reconciliation process, please get back to me by leaving a reply below. I'm always here to help you out. Stay positive always!

Thank You Raymond

<<Go to the Plus icon (+) at the upper right.  Under Other, select Bank Deposit.  Select the Date and add all the payments that were on the original deposit.  Choose Save and close. >>

The manual deposits were entered as a lump sum, not using each individual sale as it appears in Undeposited Funds.

Selecting payments from Undeposited Funds doesn't produce a total that is even moderately close to what the deposit amount should be.  Random amounts show in Undep. Funds as 'Deposited' under the Reconciliation Status column, yet transactions above and below for the same date show as blank in in the same status column.

I'm perplexed.

Welcome back to the Online Community, panda88.

I appreciate for sharing additional details. This gives me a quick overview of what exactly happened to the transactions.

I can help ensure your financial records are in tiptop shape. To resolve the issue, you’ll have to manually open each invoice and unlink the payment.

Here’s how:

1. Go to Sales on the left panel, then choose Customers.
2. Select the customer you’re working on.
3. Mark the box of the invoice you’re working on, then click on it.
4. Click 1 payment under the PAID status, then click on the Date link.
5. In the Receive Payment page, click on the Clear Payment button.
6. Choose Save and close.
7. Click Yes to confirm.

Once done, you can now match the transactions to the correct deposits and re-reconcile your account.

Before doing so, make sure to unreconcile the transactions first. I’ve laid out the steps below:

1. Go to Accounting on the left panel.
2. Select the bank you’re working on, then click View register.
3. Click the Funnel icon to filter the dates, then choose Apply.
4. Locate and click the transaction, one at a time.
5. Between the Deposit and Balance (USD) columns, keep clicking the R field until the status changes to blank (unreconciled) or C (cleared).
6. Click Save.

You’ll find more information in this article: Clear, unclear, reconcile or unreconcile transactions. If you’re an accountant, the Undo Reconciliation tool will help you unreconciled transactions by batch.

These steps should get you pointed in the right direction.

Reach out to me if you have additional questions. Please know I’m just a comment away for help. Have a great rest of your day!

I have the same problem with quickbooks desktop.  My square deposits are automatically added to my bank and i have no idea how to add them to my manually entered receipts??

Thanks for joining this thread, cb7712.

We’ll have to check if there’s a rule set for your deposits. This is to determine if it’s the root cause why your Square transactions are automatically downloaded to your bank.

If there’s a rule created for the entry, let’s match the deposits to the receipts. I’ll help and guide you on how to do this in QuickBooks.

1. Go to the Banking menu at the top bar to select Bank Feeds and the Bank Feeds Center.
2. Then choose your Financial Institution and click the Transaction List menu.
3. This will open a screen that will show all downloaded entries.
4. From there, look for your Square deposits and tick the box for each entry.
5. Press the drop-down under the Action column and pick Match to Existing Transaction to see all existing entries recorded in the company file.
6. Find the receipt you’re working on and tap the Confirm Match button.
7. Perform the same process for the remaining deposits.

However, if you didn’t create a rule for the transactions, exclude them and then match the receipts to the deposits added in your bank.

1. Go to the Banking menu at the top bar to select Bank Feeds and the Bank Feeds Center.
2. Choose the Transaction List menu to view more details.
3. Find the deposits and tick the box for each one.
4. Navigate to the Action column and press the drop-down to select Ignore.
5. Click on Yes to confirm the deletion of the transaction.

Here’s an article that contains links to online banking-related activities: Get started with Bank Feeds for QuickBooks Desktop. It contains topics on how to set up an account for bank feeds, add or match downloaded entries, edit the bank feed settings, and deactivate the bank feeds.  

Leave a comment below if you still have concerns on how to handle your Square deposits. I’m always ready to assist further. Enjoy your day.