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NancyC1
Level 3

My bank DEPOSIT transaction includes transactions from Quickbook Payment: 2 deposits and one credit card reversal. When I "Find Match" I do not see the customer credit.

How can I match this DEPOSIT to 2 deposits + one credit card refund? I have tried Credit Memo as well as Refund Receipt - neither shows up in the FIND MATCH list.
2 Comments 2
JoesemM
Moderator

My bank DEPOSIT transaction includes transactions from Quickbook Payment: 2 deposits and one credit card reversal. When I "Find Match" I do not see the customer credit.

Thanks for reaching the Community space, @NancyC1.

 

You can record the two deposits into Undeposited Funds and create a refund receipt for the credit card refund under the same account. This way, they'll show up in the Find Match list and you can match the transaction.

 

To record the deposit into Undeposited Funds, here's how:

 

  1. Click the +New icon.
  2. Under Customers select Receive Payment.
  3. Choose the customer from the drop-down.
  4. From the Deposit to drop-down, choose Undeposited Funds.
  5. Under the Outstanding Transactions section, select the transactions.
  6. Select Save and close.

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Then create a refund receipt for the credit card refund.

 

  1. Select + New then click Refund receipt.
  2. Select the Customer ▼ dropdown, then select the customer you want to refund.
  3. Under the Refund From ▼ dropdown choose Undeposited Funds.
  4. Add all products or services the customer returned in the Product or service column.
  5. Enter the necessary details.
  6. Click Save and close.

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Once done, you can now combine the transaction

 

  1. Click the + New.
  2. Select Bank Deposit under Other.
  3. From the Account drop-down▼menu, choose the account you want to deposit the money into.
  4. Select the box for each payment you want to combine. Make sure the deposit total and selected payments match your deposit slip.
  5. Hit Save and close or Save and new.

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Once done, you can now match the bank deposit on the banking page. To guide you in matching and categorizing your bank entries, you can check out this link: Match online bank transactions in QuickBooks Online.

 

I'm also adding here some great references that can help you in making deposits and reconciling your accounts in QuickBooks Online:

If there's anything else that I can help you with, let me know. It'd be my pleasure to assist you. Stay safe.

 

 

NancyC1
Level 3

My bank DEPOSIT transaction includes transactions from Quickbook Payment: 2 deposits and one credit card reversal. When I "Find Match" I do not see the customer credit.

Thanks for the reply; this however did not work.  I ended up calling support and here was the solution that worked for me:

First, here is the full scenario - In QuickBooks Payments application I reversed a customer's credit card payment.

Later, when QuickBooks Payments processed that reversal/refund, they created a bank DEPOSIT which included 2 true deposits, totaling $18,000 plus my $2000 reversal which created a DEPOSIT for $16000.  The only way I could match this $16000 to the 2 deposits and the reversal was to do the following:

In Transactions/Banking, open the $16000 deposit and select find other matches.

Select the 2 true deposits.  Now the deposit has a $2000 difference.  Click the RESOLVE DIFFERENCES button.  At this point another section opens up "Add resolving transactions"  In this section I enter my $2000 (negative) to the correct customer/project and accounting category.  Click SAVE.

NOTE:  in this case where the "customer credit/refund" was handled in QuickBooks Payment application I was not able to use the CREDIT MEMO or REFUND RECEIPT approach.  This worked perfectly :)

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