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ihavenoclue
Level 2

Trouble matching deposit with amount recvd.

My problem:

I have a 3rd party do my billing. At the end of month they send me monies collected. I back out the taxable/non taxable amounts and create an invoice for the subtotal. QBKS auto adds the correct tax and the final total is perfect.

This keeps my sales tax reporting straight.

The problem starts; the billing company sends me ACH payments. No problem yet. But before they send me my payment they subtract their fees. Problem.

QBKS is looking for me to deposit the gross total and I no longer have that to deposit.

I have tried creating expense accounts to add to invoice but the total never comes out right.

It either shows a credit due or an over/under payment.

I have tried creating a mock bill to pay, but the only options QBKS offers to pay bills are check or card.

I cant do check because it then wants to print a check.

I cant do card because then it messes up my card account.

I need to create an invoice to help with the sales tax reporting.

Is there a way to show the amount paid for services rendered on the same invoice ?

Or is there a way to create another way to pay bill?  Namely ACH.

Solved
Best answer April 07, 2021

Best Answers
Rose-A
Moderator

Trouble matching deposit with amount recvd.

Good day, ihavenoclue. I'm here to help ensure you're able to match your deposit with the payment received in QuickBooks Desktop.

 

There are just a few steps we need to do to get you all set! You can record the invoice payment in full and deduct the fees when you deposit the payment.

 

Here's how:

 

  1. Click Customers at the top menu bar and choose Receive Payments.
  2. Choose a customer and enter the payment amount.
  3. Select the invoice.
  4. Hit Save & Close.

 

After that, deposit the payment and deduct the fees from there.
 

  1. Click Banking at the top menu bar and choose to Make Deposits.
  2. Choose the payment from the list and click OK.
  3. On another line item, choose the Bank Fees account and enter the paid service in a negative amount.
  4. Hit Save & Close.

 

Once done, you can match the deposit to your payment received in QuickBooks.
 

 

For your reference, you can take a look at this article: Add and match Bank Feed transactions in QuickBooks Desktop. This will provide you tips on how to review your statements as well as steps on how to switch between banking modes in QuickBooks.

 

Please let me know how it goes. You can drop your comment below for follow-up inquiries or other banking concerns in QuickBooks Desktop. I'm just around to help. Have a great rest of your day!

View solution in original post

Kristine Mae
QuickBooks Team

Trouble matching deposit with amount recvd.

You don't have to apologize, Jim. We're right here to help you.

 

The bank fee is a generic term. If it's not a bank fee, you can use any expense accounts so it won't mess up your year-end reports. Then, you can apply the fees to the monthly deposit. You can follow Rose-A's steps to guide you.

 

I'll also add this article to help you manage your deposit: Record and make bank deposits in QuickBooks Desktop.

 

Reach out to us if you have other concerns. The Community is available 24/7 to assist you. Take care!

View solution in original post

6 Comments 6
Rose-A
Moderator

Trouble matching deposit with amount recvd.

Good day, ihavenoclue. I'm here to help ensure you're able to match your deposit with the payment received in QuickBooks Desktop.

 

There are just a few steps we need to do to get you all set! You can record the invoice payment in full and deduct the fees when you deposit the payment.

 

Here's how:

 

  1. Click Customers at the top menu bar and choose Receive Payments.
  2. Choose a customer and enter the payment amount.
  3. Select the invoice.
  4. Hit Save & Close.

 

After that, deposit the payment and deduct the fees from there.
 

  1. Click Banking at the top menu bar and choose to Make Deposits.
  2. Choose the payment from the list and click OK.
  3. On another line item, choose the Bank Fees account and enter the paid service in a negative amount.
  4. Hit Save & Close.

 

Once done, you can match the deposit to your payment received in QuickBooks.
 

 

For your reference, you can take a look at this article: Add and match Bank Feed transactions in QuickBooks Desktop. This will provide you tips on how to review your statements as well as steps on how to switch between banking modes in QuickBooks.

 

Please let me know how it goes. You can drop your comment below for follow-up inquiries or other banking concerns in QuickBooks Desktop. I'm just around to help. Have a great rest of your day!

View solution in original post

Rose-A
Moderator

Trouble matching deposit with amount recvd.

Hi, ihavenoclue.

 

Hope you're doing great. I wanted to see how everything is going about the deposit and received payment you had yesterday. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I'd be happy to help you at anytime.


Looking forward to your reply. Have a pleasant day ahead!

ihavenoclue
Level 2

Trouble matching deposit with amount recvd.

Hi Rose-A,

Thank you so much for your reply.

 

I like your resolution but I have a question about it.

Is showing this as a 'bank fee' is going to skew my year-end bank fee report?

It is not a bank fee.

It is a vendor specific fee.

Is there a way to apply the fee to their specific deposit?

And is 'bank fee' in this case just a generic term?

If it is a generic term and I can apply the fee to their deposit only of a monthly deposit total...then I believe you have answered my problem.

Perhaps I did not understand your solution.

If so I apologize for my ignorance...(hence the ID...'ihavenoclue)

 

Jim.

 

Kristine Mae
QuickBooks Team

Trouble matching deposit with amount recvd.

You don't have to apologize, Jim. We're right here to help you.

 

The bank fee is a generic term. If it's not a bank fee, you can use any expense accounts so it won't mess up your year-end reports. Then, you can apply the fees to the monthly deposit. You can follow Rose-A's steps to guide you.

 

I'll also add this article to help you manage your deposit: Record and make bank deposits in QuickBooks Desktop.

 

Reach out to us if you have other concerns. The Community is available 24/7 to assist you. Take care!

View solution in original post

ihavenoclue
Level 2

Trouble matching deposit with amount recvd.

Thank You Kristine Mae !!

 

I followed your link and then followed Rose-A's screen shots one-at-a-time.

That was just what I was looking for.

Now my invoice is right, and the resulting future deposit is right.

Whew!?

This book keeping is stressful work.

But I knew I would find the answer here in the Community.

I was sure that I wasn't experiencing some unknown need that no one had ever encountered before.

 

Jim.

K_Siman
Moderator

Trouble matching deposit with amount recvd.

Thank you @ihavenoclue for returning and letting us know how things went. You're so right, bookkeeping is stressful but you're doing great!

 

Please don't hesitate to come back to the Community with any more questions you have. We're all here to help and support you. :)

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