How to match bank deposit with both sales AND expense

Let me share some information on how to match bank deposits with both sales and expenses in QuickBooks, @TGO.

Put payments into the Undeposited Funds account until you're ready to combine them. When you have your deposit slip, you can combine payments from Undeposited Funds into a single record. This way, QuickBooks always matches your bank records.

Here's how:

1. Click + New button.
2. Select Sales receipt.
3. Choose the customer from the Customer dropdown.
4. From the Deposit to dropdown, select Undeposited Funds.
5. Fill out the rest of the sales receipt.
6. Once done, click Save and close.

Then create a bank deposit to combine them all. Add the expense as a negative and ensure the deposit amount is equal to the bank transaction. This way, it will match accordingly.

Additionally, I've attached relevant articles you can utilize to manage bank transactions in QuickBooks:

• Categorize and match online bank transactions in QuickBooks Online
• Reconcile an account in QuickBooks Online.

Keep me posted if you have other questions about matching bank deposit. I'm down to answer any other questions you might have for QuickBooks Online. Stay safe!

Thank you!

I am now able to create and match Bank Deposits which include both Sales Receipts and Expenses. One issue remains. I created a vendor account called "TRF rent" to record the monthly rent expenses for our customer "TRF."

When I view the Rent Expense account, I can see the (negative) amounts from the Bank Deposits, but they do not show a vendor name. Also, no transactions appear when I view the "TRF rent" vendor account. 

So the matching process works now, but the expenses are not being recorded to the vendor.

Thoughts?

Thanks for keeping us updated, TGO.

I can share some tips on how you can link the expense to the vendor. You'll want to edit the deposit and then select "TRF rent" in the Receive From column along with the negative amount. Here's how:

1. Click the Magnifying glass icon.
2. Select the deposit under Recent Transactions.
3. Go to the Add funds to this deposit section.
4. Select the vendor name in the Receive From column.
5. Click Save and close. Take a look at my screenshot below.

For more resources while working with your vendor transactions, feel free to browse some topics on this page: Expenses and suppliers.

Don't hesitate to stop by with more questions about managing your books. The Community is open 24/7 and always ready to assist.

Thank you.

I have entered the vendor name on the bank deposit as you suggest but these expenses are not being recorded to the vendor. They do appear in the Rent Expense account but without a vendor name.

Thanks for coming back for more support, @TGO. I appreciate you for following the steps suggested by my peer.

You can run a Transaction Detail by Account report, then customize it and ensure to select the Vendor column to see the details of your vendor transactions. Here's how:

1. Click Reports on the left menu and search Transaction Detail by Account.
2. Click the Customize button and go to the Filter section.
3. Mark the vendor-related transactions in the Transaction Type field.
4. Mark the vendors you want to see.
5. Click Run Report.

That will now display the amounts per line item or account of the vendor transactions. 

I've added some links of our resources for future reference in case you need some guidance in managing your reports in QBO: 

• Memorize reports
• Popular custom reports

Get back to us here if you have additional concerns about handling vendors and customers' transactions. Take care!

Hmm, I do not see Transaction Detail by Account listed as a report option. 

1) I have created many split Bank Deposits which include TRF rent as the vendor for (negative) Rent Expense amounts

2) I can see these transactions in the Rent Expense but they do not show a vendor name

3) When I select Expenses > Vendors > TRF rent there are zero transactions

Welcome back to the thread, @TGO. I'm here to help you with your concern.

Before anything else, I'd like to know more about your concern. Would you mind sharing some screenshots of what you can see on your end? That way, we can provide an accurate answer to your concern. Any additional information would be greatly appreciated and helpful in resolving your concern.

Please post a reply below for more details. I'll be waiting for your response. Have a good one!