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Quickbooks 2016 - how to handle bank deposits and invoicing

I have noticed as I do my year end reconciliation, that my income is being counted double.

 

I bill via quickbooks invoicing and I am recording the payments as received when I get them.   However when I import my bank data, the deposits are ALSO counted as income which is causing the double dip.  How can I fix this?   I can obiviously delete the deposit transactions, but I like the idea of the check register being complete - 0 sum in essence.   (deposits - withdrawls/charges = amount in bank)

 

Clarification - I am using the desktop version 2016, and am not using Intuit payment services.  They are paying by check. Thanks.

 

 

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Best answer March 08, 2018

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Content Leader

Quickbooks 2016 - how to handle bank deposits and invoicing

Hello Redjournett,

 

Thanks for joining us here in the Community. I'm glad to offer my assistance with these deposits.

 

To keep the system from double-dipping the amounts, instead of adding the transactions from the bank feed to the register, you'll need to match deposits to the received payment that's already in the register. Doing so will record the amount in the correct account and prevent the double income. Here is some additional information on using this function: https://community.intuit.com/articles/1501491-add-and-match-bank-feed-transactions.

 

This will get you back to business. I'm here if you have any other questions.

View solution in original post

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Highlighted
Content Leader

Quickbooks 2016 - how to handle bank deposits and invoicing

Hello Redjournett,

 

Thanks for joining us here in the Community. I'm glad to offer my assistance with these deposits.

 

To keep the system from double-dipping the amounts, instead of adding the transactions from the bank feed to the register, you'll need to match deposits to the received payment that's already in the register. Doing so will record the amount in the correct account and prevent the double income. Here is some additional information on using this function: https://community.intuit.com/articles/1501491-add-and-match-bank-feed-transactions.

 

This will get you back to business. I'm here if you have any other questions.

View solution in original post

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