Card Processing Holding Funds & Matching Sales Sales Receipts

Greetings, luxurytoyx.

Sales Receipt may be still in the Undeposited Funds. We need to record a Bank deposit and include the Reserve amount. I'll show you how:

1. Click the +New button, select Bank deposit.
2. Mark checked the box under the Select the payments included in this deposit.
3. Under Add funds to this deposit, enter a negative amount of $10.
4. Click Save and close.

Please see attached screenshots for your reference:

Once done, we can find match the deposit on the banking page.

If you need help in managing your transaction, here's an article on how you can download, match, and categorize your bank transactions in QuickBooks Online for reference.

Please let me know if you need further assistance in managing your transactions in QBO.

Hello,

The sales order isn't there for me to select. It only has a more recent sales order. I tried changing the dates as well but it still only shows the sales order below. 

I can share additional information, @luxurytoyx.

Let's first locate the sales you've initially recorded. Once located, ensure that the information on the sales exactly matches the deposit details.

Here's how to locate your sales transactions:

1. Hover your mouse to the Magnifying Glass.
2. Click the Advanced Search link.
3. Enter the specific details about the sales transactions:
4. Choose the Date Range of the transaction.
5. Click Apply. 

Once you've located the sales transaction, let's make sure that its date and other information matches with the downloaded transaction in your For Review page.

Once verified, select the Find Match option. From here, you can perform resolve difference to add

For more detailed insights about managing your downloaded bank transactions, you can read through these articles:

• Assign, categorize, edit, and add your downloaded banking transactions
• Download, match and categorize your bank transactions in QuickBooks Online

Feel free to get back to us if you have other questions. I'm always here to help.

Hello,

That doesn't appear to work either.

Extra info -

1) If I select another received amount that's much higher. I can see the order i'm trying to match up. Yet I don't see that order when I'm trying to match up a lessor amount than the deposit. I don't even see the S/O for that higher amount.

2) I spent over an hour with tech support and they weren't able to figure it out.

3) This was happening with a PayPal order, but we found that a discount needed to be applied to the sale receipt and and magically the order appeared for me to match up.

Based on the info above. It seems like a design flaw? It would seem I need one of two things to happen.

1)  My Processing Bank doesn't hold funds and deposits the full amount. Then separately debits my account for the reserve.

2) Be able to see all sales transaction regardless of dates/amounts.

Before switching card processors, everything matched up perfectly, but the previous wasn't  holding a reserve.

New Question - Is there a another way to match sales orders to deposits and resolve the there?

Thanks,

Hi luxurytoyx,

I guess there was a misunderstanding in the replies above.

A Sales Order (S/O) is a non-posting transaction, meaning it doesn’t affect your balances. Thus, it shouldn’t be a matching entry to your bank feed entries. It has a similar effect to an estimate, purchase order and vendor credit. They are non-posting transactions, and you won’t see them in your bank register.

On the other hand, a Sales Receipt is a posting entry and can be matched to your bank feed entries.
I’m wondering if the “order” you mentioned in number 3 is a sales receipt or a sales order. However, you kept on mentioning the word sales order (S/O), so I’ll take the missing entry as an S/O.

Let’s go back to the information above:

• Sale $100
• Reserve $10
• Bank Deposit of $90

Our goal here is to show a $90 deposit into your bank register, so it can be matched to your bank feed entry ($90).

In QuickBooks:

1. Open your sales receipt ($100) and change the Deposit to field to Undeposited Funds.
2. Deposit the sales receipt. New+ > Bank Deposit. Please have this checked by your accountant.
   

Now that you have a $90 deposit, you can match it to your bank feed entries.

On the other hand, the $10 stays as an open deposit (credit) on your customer's Transaction List. When the actual $10 is deposited to your actual bank account, you can make a Receive Payment entry. Then, select that deposit.

Feel free to let me know if you have other questions in mind.