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B
Bethany RC
July 6, 2022
Question

Batch Deposits

  • July 6, 2022
  • 1 reply
  • 2 views

Hello!  When I record my deposits, they go into my register as a lump sum.  However, when I go to reconcile, some of that lump sum is on 2 different bank statements.  How do I separate the lump sum so I can reconcile correctly?  I have been re-adding the deposits alone to make the reconciliation work, but now my register balance is higher than it should be.  I am afraid to delete the recorded lump sum deposit.  Any suggestions?

    1 reply

    C
    CharleneMaeFQuickBooks Team
    QuickBooks Team
    July 6, 2022

    There's nothing to be afraid of, Bethany RC. I've got you covered.

     

    When reconciling, you'll have to make sure your QuickBooks accounts match your real-life bank and credit card statements. 

     

    Since some lump sum deposits are separated in your bank statements, I'd recommend deleting them. Then, enter the transactions individually to ensure the reporting is correct.

     

    Here's how to delete the deposits:

     

    1. Go to the List menu.
    2. Click Chart of Accounts.
    3. Double-click the bank account.
    4. Search for the deposit on the register.
    5. Right-click the deposit.
    6. Select Delete Deposit.
    7. Click OK.

     

    Also, please delete all the deposits you've re-added to avoid duplicates. Once done, you can now enter them one at a time. I'll show you how:

     

    1. Go to Banking and then select Make Deposits.
    2. Close the Payments to Deposit window.
    3. Add the correct details of the transaction.
    4. Click Save & New.
    5. Add the deposit.

     

    If you're unsure, you can reach out to an accountant to guide you with the correct tracking. If you don't have one, you can use our Find-an-Accountant tool to look for an expert near you.

     

    Once the deposits are accurately added, you can start reconciling the account. This keeps your books balanced.

     

    After reconciling, you can click Display to view the Reconciliation report or select Print to have a handy copy of the data. 

     

    You can rely on me if you have additional questions about the process. It's my responsibility to ensure your accounts are reconciled. Keep safe always!

    K
    kshire-nwc
    March 1, 2023

    My searches on reconciling batch deposits keep returning to this one question. I am stumped.  I work for a trucking company that utilizes batch deposits for payments from customers.  In Desktop those batch invoices could be check marked to total together so that bank statements could be reconciled.  Is this feature unavailable and the batching of payments discouraged in QuickBooks Online?  Please advise how to proceed.  Thank you!

    Adrian_A
    Adrian_A
    Level 8
    March 1, 2023

    Hi there, kshire-nwc.

     

    This feature is also available in QuickBooks Online. I'm here to guide you through the process.

     

    When recording multiple payments, you can deposit them into an Undeposited funds account. From there, make deposits one at a time for each deposit slips. Here's how:

     

    1. From the + New tab, select Bank Deposit.
    2. On the Account drop-down, choose the account you want to put the money into.
    3. Tick the transactions you want to combine.
    4. Ensure the total of the selected transactions matches your deposit slip.
    5. Click Save and close or Save and new.

     

    Once done, you can review the bank deposits. Here's an article for the detailed steps: Manage bank deposits.

     

    I've also added this link as your guide in reconciling transactions: Reconcile an account in QuickBooks Online.

     

    Feel free to mention my name if you need help about the reconciliation process.

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