How do I combine a deposit containing a customer payment on invoice & a vendor refund check for overpayment on a bill?

SuperiorGCAZ · ‎December 07, 2021

Despite asking the bank teller to deposit these checks separately, they did it together & now my bank feeds won't recognize the deposit as matching either check.

I received a customer check on 2 invoices & a vendor refund on an overpayment, they were deposited together in a single deposit & when I try to match them up in bank feeds, I can't. How do I combine a payment & a vendor refund in a single deposit? I'm using QB Desktop Pro

BigRedConsulting · ‎December 11, 2021

@SuperiorGCAZ "I received a customer check on 2 invoices & a vendor refund on an overpayment,"

@SashaMC "My suggestion would be to manually create the deposit in Quickbooks by putting the two payments in undeposited funds then make the deposit with those transactions."

@SuperiorGCAZ"Thanks but QB won't allow me to do that. The vendor refund I entered as a credit, so the from account on the deposit is Account Payable & if I try to change to UF..."

Yes, of course you can't record a deposit to the special Undeposited Funds account using a Vendor, nor can you enter an AP Credit using the Undeposited Funds account. Neither of those things would make any sense and they are disallowed by QuickBooks, which @SashaMC would have seen had he actually tried it.

So...

- Delete the deposit that contains the customer payment.

- Edit the deposit that contains the vendor refund and add the customer payment using the Payments button at the top of the deposit window.

View solution in original post

SashaMC · ‎December 07, 2021

Hello SuperiorGCAZ,

Nice seeing you here in the QuickBooks Community! My suggestion would be to manually create the deposit in Quickbooks by putting the two payments in undeposited funds then make the deposit with those transactions. From there, simply match the deposit to the deposit in the bank feeds. However, I highly recommend working with your accountant to verify the best practices for your business. If you don't have an accountant, we offer a ProAdvisor program where you can connect with accounting professionals within your area.

I am including this article that lists instructions on how to manually match transactions whether you are working in the Advance Mode or Classic/Express Mode.

Please let me know if you have any questions! I am here to lend a helping hand. Take care.

SuperiorGCAZ · ‎December 08, 2021

Thanks but QB won't allow me to do that. The vendor refund I entered as a credit, so the from account on the deposit is Account Payable & if I try to change to UF I get the error that only QB can put deposits in UF. Any other solutions?

BigRedConsulting · ‎December 11, 2021

@SuperiorGCAZ "I received a customer check on 2 invoices & a vendor refund on an overpayment,"

@SashaMC "My suggestion would be to manually create the deposit in Quickbooks by putting the two payments in undeposited funds then make the deposit with those transactions."

@SuperiorGCAZ"Thanks but QB won't allow me to do that. The vendor refund I entered as a credit, so the from account on the deposit is Account Payable & if I try to change to UF..."

Yes, of course you can't record a deposit to the special Undeposited Funds account using a Vendor, nor can you enter an AP Credit using the Undeposited Funds account. Neither of those things would make any sense and they are disallowed by QuickBooks, which @SashaMC would have seen had he actually tried it.

So...

- Delete the deposit that contains the customer payment.

- Edit the deposit that contains the vendor refund and add the customer payment using the Payments button at the top of the deposit window.

SuperiorGCAZ · ‎December 11, 2021

Thank you so much! So quick & easy! Great solution. :)

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How do I combine a deposit containing a customer payment on invoice & a vendor refund check for overpayment on a bill?