Authorize.net Sync with QB Online

adi · ‎February 24, 2018

When QB is synced with Authorize.net, an invoice is created and the payment is being matched and closed. How then do I process the transaction of the actual money coming in from my bank account sync if the invoice is already matched to a deposit?

Furthermore, the actual amount coming in to my bank account is less then the actual sale, since Authorize.net has deducted the transaction fee, so how can I match the transaction to an invoice that was already being closed automatically by QB?

Example - a sale for $300 was made on my eCommerce website. When Authorize.net is synced, an invoice for $300 is created and a matched payment of $300 is deposited automatically, which closes that invoice.

Then when my bank account is synced to QB, there is a transaction of $294 coming in ($6 was deducted by Authorize.net for fee) which I need to process, but cannot match it to the invoice since its already being matched, and if I ADD it to the sales account it will count as a different sale (since the original invoice was already closed).

Also even if i want to match it to the original invoice, the amount doesn't match because of the fee that was deducted, so I need to add an expense of $6.

BUT, when monthly charged for my credit card fees by Authorize.net, the $6 is included there, which can again cause a double expense.

Anyone familiar with this process? Thanks in advance.

KhimG · ‎March 30, 2018

Hi there, adi.

Thank you for reaching out the QuickBooks Community. Have you checked with authorize.net whether the money can be set up to post to undeposited funds instead of creating a deposit after syncing to QuickBooks Online?

QuickBooks Online only accepts the information provided to us and won't create invoices automatically. I suggest you verify with authorize.net because this is a set up in your account with them.

Once your payment goes to undeposited funds, we can start depositing and record the correct amount including the fees taken out.

Here’s how:

1. Go to Plus (+) icon and select Bank Deposit.
2. Enter the necessary information.
3. Place a checkmark next to the payment under Select the payments included in this deposit section.
4. In the Add other funds to this deposit section, enter the vendor (authorize.net).
5. Select an expense account and enter an amount for the processing fee as a negative figure.
6. Click Save and close.

Right after depositing the funds, you may start matching the transactions. To know more select the Match downloaded transactions to existing transactions link in this article: https://community.intuit.com/articles/1164872.

Let me know if you need anything else. I’m always here to help. Have a good day!

View solution in original post

KhimG · ‎March 30, 2018

Hi there, adi.

Thank you for reaching out the QuickBooks Community. Have you checked with authorize.net whether the money can be set up to post to undeposited funds instead of creating a deposit after syncing to QuickBooks Online?

QuickBooks Online only accepts the information provided to us and won't create invoices automatically. I suggest you verify with authorize.net because this is a set up in your account with them.

Once your payment goes to undeposited funds, we can start depositing and record the correct amount including the fees taken out.

Here’s how:

1. Go to Plus (+) icon and select Bank Deposit.
2. Enter the necessary information.
3. Place a checkmark next to the payment under Select the payments included in this deposit section.
4. In the Add other funds to this deposit section, enter the vendor (authorize.net).
5. Select an expense account and enter an amount for the processing fee as a negative figure.
6. Click Save and close.

Right after depositing the funds, you may start matching the transactions. To know more select the Match downloaded transactions to existing transactions link in this article: https://community.intuit.com/articles/1164872.

Let me know if you need anything else. I’m always here to help. Have a good day!

Avid · ‎October 02, 2018

My authorize.net transactions are showing they synced but they are not showing up in Quickbooks....HELP! It has been a week of trying to get them to come into Quickbooks and no luck.

adi · ‎October 03, 2018

Hi Avid,

I am a regular user but I did had that problem a while back.

What solved the issue for me was to disconnect the Authorize.net sync completely from QB and connect it again fro scratch.

Here is a link I used for a step by step instructions to re-connect Authorize.net to QB.

https://www.authorize.net/content/dam/authorize/documents/syncforqbconfiguration.pdf

Another thing you might want to check is that Authorize.net had announced they are upgrading their system in September and will be changing the IP addresses used by their API endpoints. you might need to reconfigure your API to work with QB and with your website.

Hope that helps.

Cheers!

MrsT · ‎November 01, 2018

Please help.

I have set Authorize.net to send donations to the account "undeposited funds" Authorize sends a report with the exact amount given. When Authorize needs to sync with my bank, the amounts do not match because of the fee they took.

I do not know if I am supposed to make a sales receipt for each of these donations because now there are three entries that must match (which don't): Authorize, Sales Receipt and the bank account.

How do I enter donations given through Authorize??

MaryGraceS · ‎November 01, 2018

Thank you for joining the QuickBooks Community, @MrsT.

I'd be happy to help share the steps on how to enter the donations given through Authorize. To begin, you need to deposit the sales receipt into the Undeposited Funds account so that you can record the donations and separate the fee.

Here's how:

On the left pane, select Sales.
At the top menu, select All Sales.
Filter the list to find the sales receipt.
Click the sales receipt, then select Undeposited Funds from the Deposit to drop-down.
Click Save and close.

After that, you can now record the donation on the Bank Deposit screen and enter the fee as a negative amount to show the deposit.

Here's how:

At the top right, click the Plus (+) icon.
Select Bank Deposit.
Select the payment under Select the payments included in this deposit section.
Under Add funds to this deposit, enter the donation details.
Enter the name of the vendor (authorize.net).
Enter the specific expense account you use to record bank fees. If you don't have any, just select Add New so you can set it up.
Make sure to enter the fee as a negative amount.
Click Save and close.

Finally, you can now start matching the transactions. For more details about adding and matching downloaded transactions, please refer to this article: https://community.intuit.com/articles/1773491.

These steps should get you back on track. Of course, you can always leave a comment below to keep in touch with me if you need more help with recording donations.

MrsT · ‎November 05, 2018

I deleted the Sales Receipt that I had manually entered for each person donating using Authorize.net and then followed the steps you described above. I now have money in an account called Unapplied Cash Payment Income because there is no matching Sales Receipt or Invoice which I do not use. My company is a nonprofit---there will be no invoices. Won't this situation hurt my end of the year reports?

How is this situation fixed?

Biz_Books_Cloud_LLC · ‎November 15, 2018

You should create invoices instead of sales receipts. The only difference is that an invoice separates the recording of the income (the invoice) and the payment (received by Authorize.net) which occurs outside of QuickBooks. So when the payment is synced you apply it to the invoice. Then follow the procedure above to deposit the payment less the fee.

Topics

Training

Community

Resources

Authorize.net Sync with QB Online