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split deposit in bank feed

Forum|Forum|3 years ago
November 2, 2022
11 replies
41 views

I have a new QBs headache I am hoping there is an easier work around. We currently have multiple AR set up for different years for tuition. The vast majority of our money comes through an organization called FACTs that allows us to invoice and track all the money. For this reason, when we set up the accounts in QBs we use the same customer (FACTs) and just import the money through that "customer." The challenge is when we get a deposit from 2 different ARs because they are from 2 different years. Is there an easy way to split the deposit in FB to allot money to each account? I know when I have split transactions it is usually from a matched JE BUT I cannot create a JE with 2 ARs. So I am hoping there is an easier work around than putting all the money in one AR and moving it afterwards, but fear that may be the only option.

QuickBooks Desktop

Best answer by BigRedConsulting

maybe it does work this way, is that what I would do?

Looks right to me...

BigRedConsulting

Level 15

You can't create a Deposit transaction and uses two different AR accounts, nor can you receive a single Payment transaction for two different AR accounts. The only way to do this is to record two Payments transactions - one for each AR account - and then include them in the same Deposit.

J

JackMartAuthor

Sounds like there maybe an easier way then moving it all to one account and then making multiple JE to move it to a different ARs. Can you explain how I would record 2 payment transactions for each AR? Would I just just manually enter it as a deposit for each AR and the bankfeed will sum them and match them?

BigRedConsulting

Level 15

I'm talking about importing things from the bankfeed not doing customer payments. However, maybe the solution has something to do with that. We want to keep school years separate so we can track how much money we receive for each school year.

Well, when you're dealing with A/R, trying to start at the end with a deposit and then work backwards can be quite limiting and won't always work.

The normal AR workflow is Invoice(s), then Payment(s) applied to the invoices, then Deposit including the payments (not Invoice, then Deposit transferred back to AR).

If you want to create one deposit that includes money applied to different AR accounts, the only way to do it is to record two Payments and then include them in the deposit. You should be able to do this on the fly while accepting transactions, unless the bank feeds center doesn't let you switch windows.

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