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Greenrock
Level 1

Project Deposits

I'm having issues with the Projects tab not accurately showing the Project balance related to deposits. A customer paid two invoices with the same paper check and its recorded under one banking deposit. I used the Split feature to split the deposit between two projects, but both projects are showing the entire amount as a payment to the project which reflects a higher total payment amount than actual. Am I inputting something incorrectly? 

Solved
Best answer September 12, 2021

Best Answers
JenoP
QuickBooks Team

Project Deposits

Let's make sure that the correct amount of deposit is shown on each projects, Greenrock.

 

Although the invoices will be marked as paid and closed, the total deposit will show in both projects. Instead of using the Split feature, you can match the single deposit to the two invoices so the amount of the payment amount will reflect accurately.

 

First, remove the deposit from being added using the Split feature. Here's how:

 

  1. Go back to the Banking menu and proceed to the Categorized tab.
  2. Find the deposit that's added to the projects.
  3. Select the blue transaction link in the Added or Matched column to see the matched transaction.
  4. Click Undo under the Action column.

 

Second, proceed to match the payment to the two invoices. Here's how:

 

  1. Go back to the For Review tab under the Banking menu. 
  2. Look for the customer payment and click on it.
  3. Click Find match.
  4. Look for the invoices, then check the boxes before the Date column. 
  5. Click Save

 

Once done, go back to the projects and check if the amount of the payments are now correct.  

 

Feel free to visit these articles for additional reference when using the Projects feature in QBO: 

 

 

Don't hesitate to visit us again anytime if you have more questions or other concerns when working in QBO. I'll be around to assist you again. 

View solution in original post

2 Comments 2
JenoP
QuickBooks Team

Project Deposits

Let's make sure that the correct amount of deposit is shown on each projects, Greenrock.

 

Although the invoices will be marked as paid and closed, the total deposit will show in both projects. Instead of using the Split feature, you can match the single deposit to the two invoices so the amount of the payment amount will reflect accurately.

 

First, remove the deposit from being added using the Split feature. Here's how:

 

  1. Go back to the Banking menu and proceed to the Categorized tab.
  2. Find the deposit that's added to the projects.
  3. Select the blue transaction link in the Added or Matched column to see the matched transaction.
  4. Click Undo under the Action column.

 

Second, proceed to match the payment to the two invoices. Here's how:

 

  1. Go back to the For Review tab under the Banking menu. 
  2. Look for the customer payment and click on it.
  3. Click Find match.
  4. Look for the invoices, then check the boxes before the Date column. 
  5. Click Save

 

Once done, go back to the projects and check if the amount of the payments are now correct.  

 

Feel free to visit these articles for additional reference when using the Projects feature in QBO: 

 

 

Don't hesitate to visit us again anytime if you have more questions or other concerns when working in QBO. I'll be around to assist you again. 

View solution in original post

Greenrock
Level 1

Project Deposits

That worked great!! Thank you for the quick and thorough response!!

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