Fix QuickBooks Payment deposits to match your bank statements
by Intuit•11• Updated 3 months ago
Learn how to fix QuickBooks Payments deposits to match your statements in QuickBooks Online.
When you reconcile the account, you might notice the deposit in QuickBooks doesn't match your bank statement. QuickBooks automatically deposits money into your bank account and categorizes it in your chart of accounts. When you receive multiple payments in a single day, QuickBooks combines them into a single deposit.
If you don't use QuickBooks Payments, here's how to do a manual bank deposit.
Step 1: Find payments you need to fix
First, get a list of your deposits and the related customer payments.
- Sign in to the Merchant Service Center.
- Select Activity & Reports and then Deposits.
- In the Dates fields, select the date range you're reconciling.
- Find the deposit you need to fix.
- In the Fee column, select the deposit to expand the view. This lists all the payments grouped in the deposit.
Compare the list of payments with your bank statement. If QuickBooks grouped everything the same way and the totals match, you're good to go. You can continue reconciling the account.
If things don't match, keep the payment list open in your web browser and move on to Step 2.
Step 2: Correct the deposit in QuickBooks
Review the deposit QuickBooks created for you. Use your bank statement as the source of truth and the list of payments as a reference.
- Sign in to QuickBooks Online.
- Go to Settings and select Chart of Accounts.
- Find the account you're reconciling. Then select View Register.
- Find the deposit you need to correct.
Note: It should have System-record deposits for QuickBooks Payments in the Memo column. - Select the deposit to expand the view. Then select Edit.
Check your bank statement. If the bank combined two payments and recorded the third separately, but QuickBooks grouped all three together, fix the deposit in QuickBooks.
- In the Deposit window, go to the QuickBooks Payments section.
- Review the list of checked and unchecked payment transactions. If a payment is checked on the deposit, but it's not part of the deposit on your bank statement, uncheck it to remove it. Or select the checkbox to add a payment to the deposit.
- Check the deposit total. It should match the deposit amount on your bank statement.
- When the deposit in QuickBooks matches your bank statement, select Save.
Now you can continue reconciling the account.
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