Question

How do I split a deposit between a customer invoice and a rent payment for which there is no invoice?

Forum|Forum|4 years ago
March 6, 2022
2 replies
31 views

How do I split a bank deposit thru bank feed - which consists of 2 or more checks

to give an example - deposit in bank is for $40,000 via bank feed. The amount consists of 2 checks - one from a customer for $35600 (with Invoice #....) and the other is towards rental income for $4,400 (for which there is no specific invoice). I would like to "receive" the $35,600 against the customer invoice and "add" the $4,400 to rental income.How do I do that ?

QuickBooks Online

katherinejoyceO

Level 9

Hi there, @BTLC.

Thanks for coming to the Community for your concerns. I'm glad to share with you the steps on splitting deposits in QuickBooks.

Here's how:

Go to the Banking menu, then select the account where the transaction was deposited.
locate and click the deposit, then select Categorize and click the Split button.
Click Add lines to add more lines since you will be splitting the transaction.
Enter all the details including the amount and payee and its category.
Click Apply and accept.

You can check out this article to get additional information when splitting a bank transaction in QuickBooks Online.

I've added this helpful article in case you need to reconcile an account to compare each transaction on your bank statement with transactions entered into QuickBooks.

Get back to me if you have additional or other concerns. I'm always around here to help you some more.

R

RRathAuthor

Thanks Katherine,

Much appreciated - I understand the split function but in this case one amount has to pay down an open invoice so I want to "match" that invoice and get it 'paid'. The other amount just goes as a credit to rental - there is no invoice to match. As I understand it - the split function allows me to "categoize" and "add" - but not "match" an open invoice

L

lfort

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T

TiffaniM35

I am trying to figure out how to fix something in our system. We have multiple customers with multiple invoices. We have received checks and deposited them together so for example we deposited two checks, one for one company and one from another. One check is simple and applies to only 1 invoice, but the other check has multiple invoices it needs to be applied to. It is not allowing us to apply it since it was two deposits. Is there a way to correct this? I used to use Enterprise which was a little easier one this aspect so just trying to figure out the loop hole around it. Thanks!

T

TirzahC

Level 4

Hi, TiffaniM.

If we will deposit check to the customer, we can record it as bank deposit and the only account we can use is the Accounts Receivable (A/R) and then we assign the customer names and the amounts.

Click the + New Plus icon.
Select Bank Deposit.
From the Account dropdown, choose the Account receivable.
Assign it to the customer and the amounts.
Press Save and close.

Then, let's apply for the available credit:

From the customer's profile, select the Invoice.
Click on Receive payment.
In the Credits section, check the box for the deposit.
Click on Save and close.

When everything is all set, we might want to check out this link for guidance on how to manage your customers' payments and accounts:

You'll have my attention whenever you have any additional queries about invoices. I'm always here to back you up!

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