Vendor check not deposited but already reconciled

But if that first payment was already reconciled because the bank takes the payment out as soon as the bill payment is made online, wont unlinking it result in a mismatching opening balance when trying to reconcile the next month?

@Malcolm Ziman curious to get your thoughts on this solution as you answered a similar question for me in the past but this one is slightly different.

Much appreciated - I wish I could repay the favors!

Hi there, @haskenazi1.

Thank you for the quick response. Allow me to chime in and share another option to record the bill payment in QuickBooks.

To avoid issues with your reconciliation, you can keep the first bill payment. Then, if you download your new bank transactions into QuickBooks, and the second payment reflects the same information, you can undo it to avoid duplicates.

Here's how:

1. On the left pane, select the Banking menu.
2. Choose the Banking tab.
3. Under For Review tab, check the box for beside the transactions you want to exclude.
4. Click the Batch actions drop-down and choose Exclude Selected.

I've attached a video tutorial about excluding transactions for additional reference: https://www.youtube.com/watch?v=xiiaz0qLEBo.

These resources should help to get you back on track. Drop me a comment below if you have any other questions about recording the bill payment in QuickBooks. I'll be happy to help you out. Wishing you and your business continued success.

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@haskenazi1 wrote:

@Malcolm Ziman curious to get your thoughts on this solution as you answered a similar question for me in the past but this one is slightly different.

 

Much appreciated - I wish I could repay the favors!

 

 

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QuickBooks Team said:

"Locate the transaction and click Undo "

and "Click the arrow next to Batch actions and choose Exclude Selected."

No, you should not be Undoing or excluding any transactions. Undo will change the history. It's bad advice, as is usual from them.

Leave the original payment as is.

For the 2nd payment code it to Accounts Payable. That creates a credit on the account, to be used later when you eventually get the funds from the 1st payment back

Intuit Admin,

I have the same exact issue and am looking to remedy. If the step by step instructions by other users are wrong, could you please give step by step instructions for your advice? "For the 2nd payment code it to Accounts Payable. That creates a credit on the account, to be used later when you eventually get the funds from the 1st payment back"

Welcome to the QuickBooks Community, @REDinterior.

To link the 2nd payment to the bill you'll have to use Accounts Payable as  the posting account. This way, it will be applied as credit to the account. If you've created a Bank Deposit here's how to post it under Accounts payable:

1. Select the New button.
2. Click Bank Deposit.
3. From the Account drop-down menu, choose the account you want to deposit the money into.
4. In the Add funds to this deposit field, enter the necessary information. Enter the vendor's name and the amount. 
5. Select Accounts Payable under the Account column, to apply the credit to the bill.
6. Hit Save and close. 

For more details, please refer to this article link: Record and make Bank Deposits in QuickBooks Online. 

Also, if in case you want to use location tracking to group payables or receivables, you can visit this page for the detailed steps: Get started with class tracking in QuickBooks Online. 

If you have further QuickBooks concern feel free to leave a reply below. The Community team is always here to help. Have a good one.