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Frequent Contributor *

Bank deposits split into multiple invoices...now won't reconcile.

Hello, 

 

When we deposit checks into the bank, we deposit multiple checks at one time. When I go to match the bank transaction to open invoices, I have to split them into the various invoices. However, when I go to reconcile the account, I see 3 entries in the bank register: 

 

One credit for the original deposit amount (lets say $3460)

Below that is a credit for $3000 (for Customer A)

Below that is a third credit for $640 (Customer B 

 

How can I avoid this from happening? It's impossible to reconcile with this problem! 

 

Thank you! 

Solved
Best answer 02-28-2019

Accepted Solutions
Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

Just to make sure you know, the end results should be: 

Debit - Cash

Credit - Revenue

-----------------------------------------------------------------------------------------------------------------------------

Another common setup, when you create invoices in QB, your setup may do these entries:

Debit - AR 

Credit - Revenue

 

Then when you receive payment, the system should make these entries for you:

Debit - Cash

Credit - AR

----------------------------------------------------------------------------------------------------------------------------------

 

 

9 Comments
Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

Suggest look at report called General Ledger (which shows detail of all account transactions).

Look at the Cash account (QB calls Bank), and it is usually first account shown on this report.    Check to see if amount is actually counted twice in total or if it just looks that way on screen. 

Frequent Contributor *

Re: Bank deposits split into multiple invoices...now won't reconcile.

Thanks for your reply. I've attached an image. The general ledger does show 3 credits to the account. One is the deposit, and the other two credits show as payments (to the invoices that the original deposit is for)

Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

That is definitely not good, so you will need to delete one of them. Looks like you may have added vs. matching payment to open invoice.  I would remove both and go back to bank feeds to match. 

Frequent Contributor *

Re: Bank deposits split into multiple invoices...now won't reconcile.

Thank you. I unmatched both payments and went back to the bank feed. I found the transaction and clicked Find Match. 

 

I saved it, and went back to the general ledger to see if it worked. It did!!!! I double checked in the reconcile page and it worked!!! Thank you!!!! 

 

Frequent Contributor *

Re: Bank deposits split into multiple invoices...now won't reconcile.

Hi Teri. All looked well and perfect in my reconciliation. Then I went back to my inmvoice page and all of the involved invoices are now marked as unpaid! Why aren't they attached?

Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

Logging into my QBO to look.  Have never had a problem with posting invoice payments.

Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

First thought is look in AR account to confirm that is where invoice entry was posted since we see payment went there, which is normal

Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

Make sure everything matches between invoice and payment, like dates, customer name, account, amounts invoiced, etc.   It is easy to click 2018 vs. 2019 this time of year.

Established Community Backer ***

Re: Bank deposits split into multiple invoices...now won't reconcile.

Just to make sure you know, the end results should be: 

Debit - Cash

Credit - Revenue

-----------------------------------------------------------------------------------------------------------------------------

Another common setup, when you create invoices in QB, your setup may do these entries:

Debit - AR 

Credit - Revenue

 

Then when you receive payment, the system should make these entries for you:

Debit - Cash

Credit - AR

----------------------------------------------------------------------------------------------------------------------------------