Matching Payments and multiple bank transactions (credit card payments)

Hi Mark,

I can see that matching a downloaded payment to multiple transactions is really useful for your situation. However, it's currently not an option in QuickBooks Desktop.

If you're using QuickBooks Payments (Merchant), you don't need to do anything because the payments will sync with your transactions. However, if you're using a different payment provider, here's what you can do:

1. Pay your invoices and make sure they post to the Undeposited Funds account.
2. Group the payments in one deposit transaction.
3. If there's a credit card processing fee, add it as a line item with a negative amount.
   
   

Let me know if you still need help with matching your payment. Take care and more power to your business!

Hi!  

I clicked the solved button before actually trying this!

Unfortunately, I wasn't able to get this to work

When I try to match the single bank deposit to 2 transactions (1 deposit, and 1 transfer) I get the following error.

"Looks like you're trying to match a bank entry with multiple transaction. You can select either only open transaction or a single transaction already existing in your register."

Both transactions are already in the account register. 

What do I do?

Hello there, MarkBr.

In QuickBooks Desktop (QBDT), you can only match open transactions with your downloaded bank transaction. You'll want to exclude some transactions then proceed with matching them.

To exclude/delete:

1. Choose Banking.
2. Select Bank Feeds then Bank Feeds Center.
3. In the Items Reviewed section, select the name of the account with the transactions you wish to remove.
4. Choose the Select Items to Delete button.
5. Select the transaction(s) you wish to delete.
6. Click the Delete Selected button.
7. Confirm deleting the transaction(s) by selecting Yes. 

Here's how to match multiple transactions with your downloaded bank transactions in QuickBooks Desktop: 

1. Click Banking, then go to Use Register. 
2. Choose the specific Bank account where the downloaded transaction is recorded. 
3. Select the specific downloaded bank transaction. 
4. Put a check-mark on the transaction you want to match. 
5. Pick Add More Details from the Action drop-down. 

For more details about adding and matching bank feed transactions, check out this article: Add and match Bank Feed transactions in QuickBooks Desktop.

You may want to consider mastering the reconcile workflow in QuickBooks. This way, you'll be able to make sure your books are accurate.

Keep me posted if you need further assistance while working in QuickBooks. I’m here to help and make sure you’re taken care of. Have a good one.

Hello Charles_M,

Thanks for your reply.   Unfortunetaly I don't understand what is meant with the term "open" transaction.  Can you help me understand what this means?  Also, how can I tell if a transaction is open or closed? and how can I define the status for each transaction. 

The error message is not very informative about how to correct this.

Thank you.  

Mark

Hello there, MarkBr.

I appreciate you reading and following the thread. Let me share with you some insights about open transactions.

Open transactions report is a generic term for a report or window designed to show only open (Example: unpaid transactions). These transactions record debits or credits to Accounts Receivable or Account Payable. They include:

• Open Invoices Report
• A/R Aging Summary
• A/R Aging Detail
• Unpaid Bills Report
• A/P Aging Summary
• A/P Aging Detail
• A Transaction Summary or Detail report filtered for Paid Status = Open
• Reminders List
• Customer Snapshot
• The Income Tracker

When accrual transactions such as bills or invoices are paid, they should NOT show on these reports/windows. If they do, it is likely because QuickBooks does not recognize that the transactions are already paid because:

• a bill credit or bill payment is entered but not applied to a bill.
• a credit memo or payment is entered but not applied to an invoice.

The following may also cause paid transactions to appear on open transactions report:

• Aging report preferences are incorrect.
• Terms set for a bill or invoice are incorrect or terms are set up incorrectly in the Terms List.
• The date on your server or on your workstation is set incorrectly.
• The Bill Payment is dated after the date range of the report.
• Either one or both of the transactions or the link between them is damaged.

You can also check on how to reconcile an account in QuickBooks Desktop after matching the transactions.

Get back to me if you have any additional questions about open transactions. I'm just a post away.

Thank you Ethel_A for the description of open transactions.

However I'm still at a loss of how to resolve my issue, let me try describing it again.

I'm making a deposit into my checking account of cash and checks using the following path

Transfer transaction from Cash on Hand Account -> Checking Account

Make Deposit transaction for Checks from Undeposited funds -> Checking Account.

This gives me 2 separate transactions in my Checking account

When I import in the bank transactions through the Advanced Bank Feed, I only see 1 transaction for the deposit total (the 2 above entries)

I can find and select the 2 transactions that I would like to match to - but then I get the error that I'm matching to an open transaction.  This doesn't make sense to me.

How should I deal with this issue?  It seems like such a "normal" and common process for a business to do i.e., deposit both cash and checks.

Thanks for getting back to us, @MarkBr.

The steps shared by my colleague Jess should help match your online bank transaction to two transactions in QuickBooks Desktop (QBDT). However, this is only available in the 2021 version of QBDT.

If you have a different version, you can exclude the online banking transactions in the Banking page, and manually clear the two transactions in the register as a workaround. This way, the total amount that's cleared in your bank matches what's in QuickBooks. Please refer to the steps below.

To exclude online banking transactions:

1. Select Banking from the navigation panel.
2. On the Banking page, click the For Review tab.
3. Select the checkboxes of the transactions to exclude.
4. From the Batch actions drop-down, choose Exclude Selected.

To manually clear the two transactions in the register:

1. Click Accounting from the left navigation panel.
2. Select Chart of Accounts.
3. Look for the account where the expense is added, and click View register.
4. Find the transaction that needs to be cleared.
5. To highlight, click on the transaction.
6. Click on the top line of the transaction in the field between the Deposit and Payment amount.
7. You can continually click on the status field to get the cleared status (C it is cleared).
8. Click Save.

For more information about matching transactions in QBDT, consider checking out this article: Add and match Bank Feed transactions in QuickBooks Desktop.

Feel free to post again or leave a comment in this thread if you have any additional concerns. I'll be here to help. Have a good one!

Hello Fritz_F,

Thanks for getting back to me, and the workaround that you provided.  If all else fails, I'll use that.

I just upgraded last month to the 2021 QB Desktop version and understand that's what I need to be able to match the two transactions, but QBD doesn't allow me (I get the error message noted below in the past threads)

Is this is a bug in the software?  Do you need any other screen shots or details to show what's happening.  Could you have a discussion with the developers?  It'd make it a lot easier for our team to be able to follow the normal matching process, and not have to do this work around.

Thanks!

Thanks for getting back with the Community, MarkBr.
 

I'm happy to hear FritzF was able to provide some clarification on the QuickBooks 2021 steps for matching transactions. In the event JessT's steps don't get them matched properly, you can always exclude them as Charies_M and FritzF went over.

Screenshots are definitely always helpful for understanding what's going on. The "Looks like you're trying to match a bank entry with multiple transactions. You can select either only open transactions or a single transaction already in your register." message you're receiving is something that's built into QuickBooks, so it wouldn't be a bug of any kind. Its purpose is to inform users that bank entries can only be matched with open or single transactions from the register.
 

If you continue experiencing issues with matching, I'd recommend getting in touch with our Customer Care team. They'll be able to pull up your account in a secure environment, conduct further research, and create investigation tickets if necessary.
 

They can be reached while you're signed in:

1. In the top menu bar, go to Help, then QuickBooks Desktop Help.
2. Choose Contact Us.
   
3. Enter a brief description of your issue in the Ask a question (or tell us what's wrong) field.
   
4. Click Continue.
   
5. Select We’ll contact you for a callback or Message Us to start an instant messaging session.

Be sure to review their support hours so you'll know when agents are available.
 

If there's any additional questions, I'm just a post a way. Enjoy the rest of your day!

Thank you all for the replies....However, I believe the issue is still not addressed, so I wanted to try to explain the entire workflow I'm trying to go through and highlight the issues I'm having with QBD Pro 2021.  I believe there's a fundamental function that's either missing, or a bug in the software - that I hope the community or the developers will be able to address.

Here goes;

In our retail store we get daily payments from customers on their accounts (in the form of cash and checks), AND we create a daily sales receipt for cash and credit card sales.  Here's how to treat those payments

- the cash we receive for A/R get's posted to the customer account, and placed in an account -> Cash on Hand

- the Checks we receive for A/R get posted to the customer account, and placed in the Undeposited funds account

For our daily sales;

- the Cash get's posted to the cash on hand account

- Credit Card Total transactions are split in to 2 (Hardware Dept, and Grocery Dept) and get posted to the Checking Account that the provider sends the funds to.

Next, when we go to make a bank deposit;

We physically take the cash and checks to make a deposit at the bank..in QBD we use the make deposit function to select the checks from the undeposited funds account to deposit.

Since the is no way to add cash to this deposit, we then use the transfer function to move the cash portion of the deposit from the cash on hand account to the checking account.  This results in 2 transactions in the checking account

Why is it not possible to add cash to the make deposit function??  The Make Deposit function is supposed to create a single deposit transaction that matches the bank deposit.  Why does it not accomplish this?

When we import and match our bank transactions, I attempt to match the single bank deposit with the 2 transactions described above - but I get the error noted in the previous threads.  I understand I can exclude the transaction (thank you for explanations), but that seems to miss the whole point of matching transactions.

Either the QB make deposit function should be able to make a single deposit of cash and checks as a single amount, or I believe this is a bug in the software. 

I get the same error when trying to match the credit card transactions;

i.e.; 1 deposit to the checking account from the credit card provider matching to 2 deposits from the sales receipt.

It seems that QB should be able to intuitively handle these basic processes!

Can the QB team please investigate this? I'd be happy to walk you through the process on a on-line support session

Many thanks in advance

Hi Mark,

Thank goodness the system assigned your post back to me. Thanks for adding more information about your scenario by the way. I can see that you pretty much have a conversation with my colleagues. I'll continue to help you out.

The Make Deposit function will actually let you deposit cash and check payments altogether as long as they both come from the Undeposited Funds account. That's the only trigger to include a payment in a deposit. It's already assumed that the Undeposited Funds account represents your drawer/till where you put your cash and check payments. That's why QuickBooks only recognizes funds to be deposited from it.

I understand that you use a Cash on Hand account to keep the cash payments you received because that's what a business would usually do; separate the cash from checks. What you can do is transfer the funds from the Cash on Hand account to the Undeposited Funds account first. Then, deposit them with the check payments to create a single transaction which will become a matching entry to your bank transaction.

About the credit card transactions, they would normally match because credit card processes are sync in QuickBooks. I recommend contacting our QuickBooks Desktop Support to check this further using a screen-sharing tool.

If you have other questions about your deposits and payments, please let me know.

Hello @JessT !

I have spent over 8 hours on the line with QB support and they cannot validate your claim that "matching a bank transaction to two or more transactions is now possible in QuickBooks 2021." I absolutely need this feature, have tried desperately to get it to work, and can't. I can see on my bank feed that I have a transaction for, say $100, and 2 bank register transactions for $50 each. I can select the "match to existing transactions" drop-down menu item so that I can match the bank feed item to the matching bank register transactions, but when I do, I get an error that says, "Looks like you're trying to match a bank entry with multiple transactions. You can select either only open transactions or a single transaction already in your register."

I have verified that I am using to correct Bank Feeds mode.

I would really appreciate your assistance in this matter.

Thanks!

Thanks for providing additional detailed information, HomeTaxSvcAL.

I do appreciate sharing your suggestion of having to match bank transactions to two or more in QBDT. I'll take note of your feedback and send it to our developers.

With your feedback, They can see what we need to improve and what new features you would like us to add in future product enhancement.

You can also check out our QuickBooks Blog to stay updated with the latest features of our product.

If you have any other questions, please feel free to add them below. The Community is always here to help.

Need someone to call me asap [removed]

Greetings, @jscostal16. 

Thanks for joining in on this thread. 

As a Community Specialists, I'm unable to directly call you. However, you can request a callback with our Customer Support Team through your account so that you're able to get help with your issue. Here's how: 

1. Go to the Help menu. 
2. Select the QuickBooks Desktop Help option. 
3. Tap the Contact Us hyperlink. 
4. Give a brief description of the issue and hit Let's talk. 
5. Scroll down and choose to Get a callback. 

It's that easy! 

I hope this helps. Please let me know how the call goes. Take care!