How to properly receive a payment and make deposit when your bank is attached to QBO

Appreciate the complete details of your concern, @SWyatt502

I'd be delighted to share some resources on how you can receive your customer's payments and deposit it to your connected bank account in QuickBooks. Let's get started.

You have different ways to record your customer's invoice payment:

• Via the Receive Payment page
• By recording a Sales Receipt
• By making a Deposit

In all of these options, you may deposit the payment directly to your bank account instead of using the Undeposited Funds account. Just make sure to select the desired bank account on the Deposit To section.

Here's a video tutorial for a more detailed instruction:

On the other hand, if the bank account where the invoice payments are actually deposited and posted is connected with QuickBooks, your bank transactions will downloaded automatically in the system. You can see these transactions listed under the For Review section of your screen.

1. Go to Banking.
2. Select Banking tab.
3. Choose the  bank account.
4. Under the For Review tab, you'll see a list of your downloaded bank transactions.
   • Click the Add button if the transaction doesn't have similar one that you've manually added.
   • If the system finds a match to the downloaded transaction, it will be displayed on the Categories and Actions column.
   • Open the match transactions to review the details. Once verified, click on the Match.

By matching transactions, you'll avoid getting duplicate records of your transaction in the bank register.

That should do it! This will allow you to record and deposit your customer's payments systematically in QuickBooks.

You can always get back to us here in the Community if yo have other questions about receiving payments and depositing it in QuickBooks. I'm always here to help.

Thank you @IamjuViel for the detailed instructions.  I'm still confused though. 

In the video “How to receive Payments” at time mark 1:30 – this is what is not happening for me. I receive multiple payments in a day. I want to make a group deposit so my QB bank register matches my bank statement. So if I have 10 - $100 payments, my bank statement shows a deposit of $1000.
I have followed the procedures just as this video says to do BUT when I go to the Bank deposit page (see time mark 1:30 in video), my payments are not there. This page is completely blank. Even though my payments are showing up in my UNDEPOSITED FUNDS account/register. It’s baffling.

Everything I read says I should be able to do exactly what this video shows, but it's not working for me.

BTW - Thanks for the Tips & Tricks video too.  It was helpful too.  Just not on this issue.  I don't want to deposit my checks and then wait for it to hit the bank and recreate the payment receipt.  That just sounds like it provides too much room for error.  To me anyway.

You, my dear @JessT , are a genius!  You were correct.  My UNDEPOSITED FUNDS was not listed correctly.  It was showing as detail type: Other Current Assets also.  I tried editing it, but the system wouldn't allow me.  So, I created a second UNDEPOSITED FUNDS NEW account - setting it up as you stated and Voila!  My deposits are now pulling over.  

Thank you! Thank you! Thank you!

Thanks for getting back to the QuickBooks Community, SWyatt502.

I appreciate you for following the recommended steps provided by my colleague which helps resolved your issue. Please know that you're always welcome to post if you have any other questions. The Community team will always here to help.

Wishing you and your business continued success. 

I am getting duplicate transactions in my payment fields, we receive payment and I also match to my bank Register and it is duplicating. how? why?

Thank you ,Jamie

Good evening, @jamies.

I’m glad to offer my assistance with getting duplicate transactions in your payment fields. QuickBooks will attempt to match the downloaded transaction to transactions that already recorded into that bank's register. In this case, payments should match up automatically. After, adding the transaction from the Download Transaction window will only mark the existing payment in the register as cleared. You’ll need to undo the duplicate payment if you’ve applied it from the Banking page. 

Let me guide you:

1. Go to Banking.
2. Under the Reviewed tab, choose the payment. 
3. Click on Undo.

After this is done, the applied payment will then be shown back to the For Review tab, and the invoice is now open.

Let’s make sure to exclude it to avoid confusion.

Follow the steps below:

1. From the For Review tab, select the duplicate payment. 
2. Click on Batch's actions. 

Select Exclude Selected

Also, from the Exclude tab, you can delete it from here.

I’m just a post away if you have any other questions.

Dear Team, 

After i have received payment in QBO and i fully complete in the memo too but it doesn't show in GL for the memo in credit side when i go to New and then received payment. 

Can i have any advise? 

I've replicated your concern, Kongmeta68998. We have the same outcome. 

I've found out a workaround, though. I'd suggest entering the info in the Reference no. field. It will show on the GL report under the NUM column.

You can also customize the report so you can focus on the details that matter the most.

We're just around if you have other concerns. Feel free to i

I have a deposit for $795 with 5 CC payments and 1 ACH payment lumped together from the bank. When I try and match the deposit only the CC payments ($695) show up. The ACH payment was credited to my customer and shows up in the deposit ($795), but also the ACH ($120) shows up in my bank account to be reconciled. Don't know what to do. 

Thanks for sharing all the details of the banking transaction, Hollyintuc. 

I can see that you've posted the same question in a separate thread. Let me share this link with you so you can follow the steps that are provided by one of the members of the QBO Team: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/how-do-i-enter-revenue-chec....

You'll also want to check out this article abut matching transactions in your Online Banking: Categorize and match online bank transactions in QuickBooks Online.

Don't hesitate to reach out to us again if you need anything else. 

Hi - 

In this video it shows the "+" to get there however my homescreen does not have a plus bar. 

I am so confused on how to deposit.

Welcome to the thread, @casandra1.

Let me get the help you need in creating a deposit.

If you're using QuickBooks Online (QBO), you'll see the + New button in the left menu. Then, under OTHER column, select Bank Deposit. 

If you're using QuickBooks Desktop (QBDT), go to the Banking menu to create a deposit. Here's how:

1. Go to the Banking menu at the top menu.

2. Select Make Deposits.

3. In the Payments to Deposit window, choose the payment you want to include with the deposit.

4. Click OK and it will go to the Make Deposits window.

5. Tap the Deposit To list and choose the bank account you want to deposit into.

6. Enter the necessary information.

7. Hit Save & Close.

For more details, use this link for reference when creating deposits: Record and make bank deposits in QuickBooks Desktop.

Know that you can always get back to me if there's anything else that you need. I'll be here to you. Have a good one!

how do i do it in Quickbooks unemployed?

Thanks for joining this conversation, @casandra1.

If you're referring to QuickBooks Self-Employed (QBSE), invoices are automatically marked as paid once you receive the customer payments. However, you still need to add this as Business Income through the Transactions tab since it has no Undeposited Funds account.

If the bank account is connected to your QBSE account, just mark it as Business Income. But if not, you'll need to manually add transactions in QuickBooks Self-Employed. 

However, if the invoices from your account aren't automatically marked as Paid though your customers already confirmed the payment, I suggest reaching out to our Customer Support team. They have tools that can pull up your account and check it for you.

Here's how to reach them:

1. From your QBSE homepage, click the Assistant from the top bar.
2. Type Talk to a human on the chatbox.
3. Then select your preferred support method: Message an agent (Live chat), Call an agent, or Get a callback. 

Please let me know if you have any other issues or concerns by leaving a comment below. I'll be more than willing to help. Have a good one!

I did the same thing when I first started and now know how to connect the payments, but now I'm struggling with fixing what I messed up in the beginning. For example, when I received payment, I went into the customer's file and clicked "payment received" and typed how much I received. Now I am trying to go back and apply the deposited funds from my bank to the appropriate invoice but not sure how to run a report to the ones that are not already linked and I'm afraid to go in and delete payments just in case they are linked. Any suggestions on this?

Hi @lsmith94,

I'll walk you through what report you can run to confirm which deposits were cleared from your online bank in QuickBooks Online (QBO).

You can run the Deposit Detail report. With a little bit of customization, you can find what you're looking for.

Here's how:

1. Go to the Reports tab.
2. Search for Deposit Detail, then click to open it.
3. Set the date range that you need.

On the report page, click the small Gear icon beside the Export icon. It allows you to customize the columns available on the report. Tick Clr, which tells you if a certain transaction was cleared from your bank, or not. A cleared transaction means you have matched it to an online bank transaction. 

See this screenshot for reference:

I'll share this article with you: Deposit on an invoice is not showing up on the deposit detail report. It has the steps you need to take for deposits in an invoice to appear in the Deposit Detail report. 

Post a reply if you have other questions about deposits in QBO. I'll be around to help you out.

It worked wonderfully. Thank you for having a platform for me to consult when needed.

Hi,

I had the same problem with our credit cards receivables and its taken care of now. However, bank statement number of deposits do not match with my record.  Bank shows number of credit card batches and my reconciliation show bank batches and individual collection deposits too.  Please assist

Hi there, @MG38.

You can always match your bank statement and individual deposits to get the correct balance when performing your reconciliation. I'm here to guide you on how.

1. Sign in to your QuickBooks Online (QBO) account, then click on Banking at the left pane.
2. Go to the Banking page, then select your account.
3. Head over to the For review section.
4. Select your bank transaction, then tap on Find match.
5. Follow the onscreen instruction to match your downloaded entry to the manually recorded deposit.
6. Repeat the same steps for other entries.

I'm adding this link for more tips about handling your downloaded and manually added transactions: Categorize and match online bank transactions in QuickBooks Online.

Once done, you can now proceed with reconciling your account.

Please let me know how else I can help you with your payment and deposit transactions. It's my pleasure to provide additional assistance. Keep safe!

Just getting reacquainted with QB, it's been at least 20 years for me since I have touched a QB program.

That being said..... something that you might have accidently overlooked when you were trying to create your NEW deposit......... Make sure to select the little black arrow next to "QuickBooks Payments" to expose the list of transactions that are in your Undeposited Funds account.

I'm sure you probably already double-checked that, but it was something that slipped my mind for a few minutes.

Good luck.

How did you do this? I am having the same issue, but cannot create another undeposited funds account

We can work together to get this resolved, Gjoki95.

To clarify, are you trying to create a new Undeposited funds account? If so, you can follow the steps below:

1. Go to Settings and select Chart of Accounts.
2. Select New to create a new account.
3. In the Account Type ▼ dropdown, choose an account type.
4. In the Detail Type ▼ dropdown, select the detail type that best fits the transactions you want to track. 
5. Give your new account Undeposited Funds.
6. Click Save.

However, if you're referring to something else, please provide additional details so I can get it taken care of.

In the meantime, here are articles about managing your account and learning more about how undisposed funds work on QBO:

• Creating and managing accounts.
• Using undeposited funds.

I'll be right here to keep helping if you have follow-up questions.

This is exactly what I've having issues with and can't find any answers that completely answer this issue.  Did you ever get it figured out and could you help me!!  Thanks so much.

Bobbi