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Mrjan
Level 4

How to Record Bank Deposits in QuickBooks Online

I am working with a nonprofit which has been depositing checks and assigning the customer directly to each deposit line. I have always been told you should issue an invoice or process as a Sales Receipt. This method does show up on P&L by customer/job but there is nothing in the customer record so none of the other customer reports work and nothing shows up in the customer center.  Still, they do see it on the customer or job P&L. Am I wrong to recommend (strongly) that they issue invoices or Sales receipts?

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Best answer December 15, 2018

Best Answers
Rustler
Level 15

How to Record Bank Deposits in QuickBooks Online


@Mrjan wrote:

I am working with a nonprofit which has been depositing checks and assigning the customer directly to each deposit line. I have always been told you should issue an invoice or process as a Sales Receipt. This method does show up on P&L by customer/job but there is nothing in the customer record so none of the other customer reports work and nothing shows up in the customer center.  Still, they do see it on the customer or job P&L. Am I wrong to recommend (strongly) that they issue invoices or Sales receipts?


You are correct, use an invoice or sales receipt

 

run a customer balance report,  I would bet those deposits have caused a credit balance with the customers, that does not really exist

View solution in original post

2 Comments
Rustler
Level 15

How to Record Bank Deposits in QuickBooks Online


@Mrjan wrote:

I am working with a nonprofit which has been depositing checks and assigning the customer directly to each deposit line. I have always been told you should issue an invoice or process as a Sales Receipt. This method does show up on P&L by customer/job but there is nothing in the customer record so none of the other customer reports work and nothing shows up in the customer center.  Still, they do see it on the customer or job P&L. Am I wrong to recommend (strongly) that they issue invoices or Sales receipts?


You are correct, use an invoice or sales receipt

 

run a customer balance report,  I would bet those deposits have caused a credit balance with the customers, that does not really exist

View solution in original post

Mrjan
Level 4

How to Record Bank Deposits in QuickBooks Online

The only place they show up is the P&L by job.  Not in the individual customer transaction record or any balance reports. 

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