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SueTy
Level 3

Hi QB Community,

 

I have a problem I encounter sometimes - I've attached a document that describes this and includes screen captures - please see that, since it should make the problem clearer. Here's what's happening:

 

In Authorize.net, I have a transaction report totaling $270, comprising a refund of $30.00 and a sale (for membership) for $300.00. 

 

This goes to Wells Fargo as a "BankCard Deposit" of $270; this then comes over to Quickbooks as an entry for the same amount: $270. In neither case is this total itemized, but I know by the date that it's from Authorize.net's $270.00.

 

I look in Quickbooks, and confirm that our bookkeeper has created receipts for both of these transactions: the refund for $30.00 and the membership of $300.00


But, when I go to the record under Banking/Review to try to Match the $270.00, Quickbooks doesn't find either one, so I can't create a match. When I try to search, it doesn't find either of these receipts, either. 


My questions:
1. How can I create a match for this $270 record?

 

Or, if it’s better for me to Exclude this transaction,

2. How do I reconcile these two entries, the $30.00 refund and the $300 membership? When I go into the chart of accounts to look for them, I don’t see them, so am not sure how I can reconcile in a few days.

 

How do I deal with this problem?

 

Thank you so much!! -- and please see the attached document for screen captures that illustrate the problem.

 

--SueTy

Solved
Best answer December 29, 2020

Best Answers
JessT
QuickBooks Team

Welcome to the QuickBooks Community, Sue!

 

I truly appreciate how you explained your situation in detail, and your screenshot helped me understand this better, too.

 

It's right that your bookkeeper created the individual receipts because that's what happened in real life. The goal here is how do we combine them into one transaction, so you can match and reconcile it. I'll guide you through the process.

  1. Open the refund receipt ($30) and assign the Undeposited Funds account in the Refund from field.
  2. Open the sales receipt ($300) and assign the Undeposited Funds account in the Deposit to field.
  3. Make a bank deposit and select the two transactions, like in the screenshot.

Now, you have one deposit amounting to $270 and can be matched to the downloaded bank transaction. You should be good with your reconciliation then.

 

Feel free to comment below if you have more questions about your transactions. Have a good day!

View solution in original post

3 Comments
JessT
QuickBooks Team

Welcome to the QuickBooks Community, Sue!

 

I truly appreciate how you explained your situation in detail, and your screenshot helped me understand this better, too.

 

It's right that your bookkeeper created the individual receipts because that's what happened in real life. The goal here is how do we combine them into one transaction, so you can match and reconcile it. I'll guide you through the process.

  1. Open the refund receipt ($30) and assign the Undeposited Funds account in the Refund from field.
  2. Open the sales receipt ($300) and assign the Undeposited Funds account in the Deposit to field.
  3. Make a bank deposit and select the two transactions, like in the screenshot.

Now, you have one deposit amounting to $270 and can be matched to the downloaded bank transaction. You should be good with your reconciliation then.

 

Feel free to comment below if you have more questions about your transactions. Have a good day!

View solution in original post

SueTy
Level 3

Dear JessT,

 

Thank you so much! I'll try that tonight -- it looks like it will work, and solves a problem I've encountered many times. I really appreciate your help! 

SueTy
Level 3

Thanks again, JessT -- your solution worked perfectly and is awesome! :)

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