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Level 2

Transferred income matched to invoicepayment

Hi, I have a client who has accidentally deposited a check for sales income into her savings account.  She made a transfer between her savings and checking account.  I matched the transferred income to the payments made on the invoices, but now I'm a little confused on how to handle the deposit in the savings account.

If I categorize the deposit as sales income, it will create a duplicate increase.  What is the best way to handle this?

Solved
Best answer May 14, 2020

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QuickBooks Team

Transferred income matched to invoicepayment

Hello there, @freepathva.

 

I appreciate the steps you've done and for providing the complete details of your concern. I'm here to share additional information on how to handle the deposits in the savings account.

 

You'll want to go to the Banking menu and Exclude the transactions from there. I'll guide you how:

 

  1. Click the Banking menu from the navigation panel.
  2. Go to the Banking tab, click the account you want to use.
  3. Tap the For Review tab.
  4. Mark the checkbox of the transactions you want to exclude.
  5. Click the Exclude button.
  6. The items will be moved to the Excluded section.
  7. From the Excluded tab, put a check in the box for the transaction you'd like to permanently delete.
  8. Click Delete

 

Once done, these items are no longer reported as part of your business finances and will not appear in any associated account registers or reports.

 

I've got a great article for you that provides additional details on excluding transactions. You can view it by clicking this link: How to exclude expenses from downloaded bank transactions?

 

I've found a couple of articles that you can read to learn more about bank transactions in QuickBooks:

 

 

Please know that you're always welcome to post if you have any other questions about the bank transactions. Take care always. 

View solution in original post

2 Comments
Highlighted
QuickBooks Team

Transferred income matched to invoicepayment

Hello there, @freepathva.

 

I appreciate the steps you've done and for providing the complete details of your concern. I'm here to share additional information on how to handle the deposits in the savings account.

 

You'll want to go to the Banking menu and Exclude the transactions from there. I'll guide you how:

 

  1. Click the Banking menu from the navigation panel.
  2. Go to the Banking tab, click the account you want to use.
  3. Tap the For Review tab.
  4. Mark the checkbox of the transactions you want to exclude.
  5. Click the Exclude button.
  6. The items will be moved to the Excluded section.
  7. From the Excluded tab, put a check in the box for the transaction you'd like to permanently delete.
  8. Click Delete

 

Once done, these items are no longer reported as part of your business finances and will not appear in any associated account registers or reports.

 

I've got a great article for you that provides additional details on excluding transactions. You can view it by clicking this link: How to exclude expenses from downloaded bank transactions?

 

I've found a couple of articles that you can read to learn more about bank transactions in QuickBooks:

 

 

Please know that you're always welcome to post if you have any other questions about the bank transactions. Take care always. 

View solution in original post

Highlighted
Level 2

Transferred income matched to invoicepayment

Thank you so much!

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