Quickbooks Desktop

nonietester63 · ‎January 05, 2024

I am relatively new to QuickBooks Desktop and made a deposit today and at the bank I made a single deposit with a batch of checks that where from different sources. Some of them were payments received from customers and three other were vendor refunds. Later I realize that this may turn out to be a reconciling nightmare... ! The received payments from customers will be held in undeposited funds until I make the deposit in the bank register. On the other hand, I just remembered that the refunds from vendors do not go to Undeposited Funds...

Is there a way to fix this ? How can I reconcile one deposit amount in bank register with the 4 (?) different deposits?

Any suggestions would be much appreciated

DebSheenD · ‎January 05, 2024

Hey there again, @nonietester63.

Allow me to chime in and share some information about the reconciling process in QuickBooks.

There are things we need to note when reconciling:

The ending balance for the period we want to reconcile
The transactions that appear on the bank statements match to QuickBooks when we reconcile.

Yes, in QuickBooks Desktop (QBDT), you can reconcile one deposit with multiple transactions. When you reconcile, you'll compare the total deposit amount in QuickBooks with the total deposit amount on your bank statement. If they match, you should be able to reconcile the deposit successfully, even if it consists of multiple transactions.

In case you encounter some issues upon reconciling. This great resource will surely help you with fixing it. For the details, please check out this article: How to fix reconciliation issues in QBDT? To learn more about reconciliation, you can check out these articles:

Do you have other concerns about your reconciliation? Or perhaps you need some assistance in managing other entries or reports? Let me know and I'll gladly help you out again.

View solution in original post

Maybelle_S · ‎January 05, 2024

Hello there, nonietester63.

I understand how overwhelming it can be to navigate these complexities in QuickBooks Desktop (QBDT).

We can create a new deposit for each group of payments in the program. Then, ensure the total amount matches what you deposited at the bank.

Here's how:

Go to the Banking menu and select Make Deposits.
Locate the deposit you made and click on it to open.
You'll see the individual payments received from customers and the vendor refunds listed separately.
Create a new deposit for each group of payments. One for the customer payments and another for the vendor refunds.
Enter the information needed.
Hit Save & Close.

Once done, you can reconcile them individually in the bank register.

Additionally, I've added this link about recording merchant service deposits in QuickBooks: Recording QuickBooks Payments bank deposits FAQs.

Moreover, check out the following articles below to learn more about managing accounts payable and other related matters:

Let me know if you have more questions about handling your vendor bills and payments in QuickBooks. I'd love to hear more from you in the comment section. Keep safe!

nonietester63 · ‎January 05, 2024

Thank you for this. However the problem is that the actual deposit made at the bank itself was for the total of checks...

I believe the QBDT procedure was done correctly, but that I should have deposited the checks (at the bank) separately So, when the deposit transaction that will appear in the bank statement will be for the total of the deposit made (all the check together.

My understanding is that I may not be able to match the amount to of deposit with the records in QBDT.

Will I be able to reconcile the amounts?

DebSheenD · ‎January 05, 2024

Hey there again, @nonietester63.

Allow me to chime in and share some information about the reconciling process in QuickBooks.

There are things we need to note when reconciling:

The ending balance for the period we want to reconcile
The transactions that appear on the bank statements match to QuickBooks when we reconcile.

Yes, in QuickBooks Desktop (QBDT), you can reconcile one deposit with multiple transactions. When you reconcile, you'll compare the total deposit amount in QuickBooks with the total deposit amount on your bank statement. If they match, you should be able to reconcile the deposit successfully, even if it consists of multiple transactions.

In case you encounter some issues upon reconciling. This great resource will surely help you with fixing it. For the details, please check out this article: How to fix reconciliation issues in QBDT? To learn more about reconciliation, you can check out these articles:

Do you have other concerns about your reconciliation? Or perhaps you need some assistance in managing other entries or reports? Let me know and I'll gladly help you out again.

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