Sometimes, the deposit recorded in QuickBooks Online (QBO) may not align with your bank feeds, @Cisco1. Let's get this sorted out.
If you use QuickBooks Payments and receive several payments on the same day, the software automatically consolidates these payments, merging them into one combined deposit. In such cases, we can separate any transactions that have been incorrectly included in the deposit.
To get started, get a list of your deposits and the related customer payments.
Here's how you can do it:
- Sign in to the Merchant Service Center.
- Choose Activity & Reports and then Deposits.
- Pick the date range you're reconciling in the Dates field.
- Find the deposit you need to fix.
- In the Fee column, select the deposit to expand the view. This lists all the payments grouped in the deposit.
- Compare them to what you see in your bank statement.
Take note of the entries that don't have a match. Keep the payment list open. When you're ready, follow the steps below to correct the deposit.
Here's how:
- Go to the Gear icon and select Chart of Accounts.
- Find the bank account where QuickBooks posted the bank deposit record. Then, click View Register.
- Find the deposit you need to correct. It should have System-record deposits for QuickBooks Payments in the Memo column.
- Choose the deposit to expand the view. Then select Edit.
Check out this resource to learn more about the entire process: Fixing deposits to match your bank statements.
On the other hand, if you're not using QuickBooks Payments and is referring to something else, please provide additional explanations in this thread.
I am always ready to help with any inquiries you may have about managing your QBO account. Comment down below!
