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accounting-lixok
Level 2

How do I match 2 downloaded bank deposits to 1 invoice payment. The bank mistakenly broke up my 1 deposit of $4,082.91 into 2 transactions due to error: $1K

I recorded the 1 payment from my client as $4,082.91...but now I can't match the 2 deposits to this 1 payment. QBO isn't letting me.
Solved
Best answer March 21, 2021

Best Answers
Jen_D
Moderator

How do I match 2 downloaded bank deposits to 1 invoice payment. The bank mistakenly broke up my 1 deposit of $4,082.91 into 2 transactions due to error: $1K

Thanks for visiting our program, @accounting-lixok,

 

Allow me to share some steps on how to categorize your payments and match it to your bank entry. 

 

At the moment, we're unable to match multiple bank deposit to a single transaction created in QuickBooks. What you need to do is create 2 payments to match the 2 deposits.

 

For this, create a partial payment for each of the amounts in the deposit. Here's how to do it:

 

  1. Click the + New icon and pick Receive Payment.
  2. Enter the customer name and select the invoice to pay.
  3. On the Payment column, enter the partial payment amount paid.
  4. Click Save and close once you're done.

 

The status of the invoice will automatically be tagged as Partial. Check out this link to help you create customer payments: Record customer payment in QuickBooks Online.

 

Enter a Bank Deposit for the deposit with the credit care fee, if any, to relieve the balance from Undeposited Funds account. 

 

  1. Click the QuickBooks Plus (+) icon then select Bank Deposit.
  2. Mark the sales receipts from the Select the payments included in this deposit section.
  3. Expand the Add funds to this deposit section to add a new line item.
  4. In the Account column, add an expense account for the fee.
  5. For the Amount field, enter a negative amount for the credit card fee.
  6. Make sure the deposit matches the net bank deposit amount.
  7. Click Save and close.

 

You can now match the transaction to the online banking transaction. Here are the steps with sample screenshot:

  1. Go to the Banking menu and select the account where you receive the deposit.
  2. Click the transaction to expand the options, then tap the Match radio button.
  3. You will see the Find other records button from there.This image shows an expanded view of a matching transaction.
  4. Find the invoice and the other transactions related to the deposit in the Records found.
  5. Select the link next to each record to get more details.
  6. Check the Deposit to field, then select Match.

 

See this article to learn more about managing bank transactions in QBO: Categorize and match online bank transactions in QuickBooks Online.

 

 

If you have any questions, please let me know in the comment below. Have a good one!

View solution in original post

1 Comment 1
Jen_D
Moderator

How do I match 2 downloaded bank deposits to 1 invoice payment. The bank mistakenly broke up my 1 deposit of $4,082.91 into 2 transactions due to error: $1K

Thanks for visiting our program, @accounting-lixok,

 

Allow me to share some steps on how to categorize your payments and match it to your bank entry. 

 

At the moment, we're unable to match multiple bank deposit to a single transaction created in QuickBooks. What you need to do is create 2 payments to match the 2 deposits.

 

For this, create a partial payment for each of the amounts in the deposit. Here's how to do it:

 

  1. Click the + New icon and pick Receive Payment.
  2. Enter the customer name and select the invoice to pay.
  3. On the Payment column, enter the partial payment amount paid.
  4. Click Save and close once you're done.

 

The status of the invoice will automatically be tagged as Partial. Check out this link to help you create customer payments: Record customer payment in QuickBooks Online.

 

Enter a Bank Deposit for the deposit with the credit care fee, if any, to relieve the balance from Undeposited Funds account. 

 

  1. Click the QuickBooks Plus (+) icon then select Bank Deposit.
  2. Mark the sales receipts from the Select the payments included in this deposit section.
  3. Expand the Add funds to this deposit section to add a new line item.
  4. In the Account column, add an expense account for the fee.
  5. For the Amount field, enter a negative amount for the credit card fee.
  6. Make sure the deposit matches the net bank deposit amount.
  7. Click Save and close.

 

You can now match the transaction to the online banking transaction. Here are the steps with sample screenshot:

  1. Go to the Banking menu and select the account where you receive the deposit.
  2. Click the transaction to expand the options, then tap the Match radio button.
  3. You will see the Find other records button from there.This image shows an expanded view of a matching transaction.
  4. Find the invoice and the other transactions related to the deposit in the Records found.
  5. Select the link next to each record to get more details.
  6. Check the Deposit to field, then select Match.

 

See this article to learn more about managing bank transactions in QBO: Categorize and match online bank transactions in QuickBooks Online.

 

 

If you have any questions, please let me know in the comment below. Have a good one!

View solution in original post

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