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azpcp
Level 3

Merchant Services Recording Deposit Entries Incorrectly

This question is in reference to these products specifically: *Desktop Pro 2019* & *Intuit Merchant Services* 

 

I made a post last month, there were 3 different answers from 3 different people, all of which either did not understand how merchant services works with QuickBooks and/or the question.  

 

So I’m trying this again, with photos. 

 

There are errors with the way Intuit Merchant Services is automatically recording the deposits. The error only used to happen if with a combination of credit card payments and ACH payments. Now it is happening with multiple credit card payments. 

 

Merchant services will make a deposit into my bank account that combines credit card payments and ACH payments made on the same day. However, merchant services creates and records two deposit entries in QuickBooks, one for the credit card payments and the other for the ACH payments.  

 

For example, on 1/2/20 in the Record Merchant Service Deposits screen a deposit for $858.98 was recorded into my check register for credit card payments. (Picture 1) 

1_CC Deposit Automatically Recorded.png

 

On 1/2/20 a second deposit for $3147.00 was recoded into my checking register for Bank/ACH payments. (Picture 2) 

2_ACH Deposit Automatically Recorded.png

 

In the Transaction Reporting Screen/Intuit’s Merchant website it shows one deposit on 1/2/20 for $4005.98 which matched how the funds are deposited into my bank account. (Picture 3) 

3_Merchant Statement Deposit.png

 

The only way for me to fix this is to delete the two automatically entered deposits and re-record the deposit with both the credit card and ACH payments together. (Picture 4)

4_QuickbooksWarning.png

 

However, when I do this a Merchant Service Message pops up and says “The items you’ve selected for deposit will not match the single deposit on your bank statement. To better match this deposit with your bank statement, make sure this deposit: Does not include transactions that were processed with other card types.” (Picture 4)

4_QuickbooksWarning.png

 

 I have to create this entry so that it will match my bank statement and Merchant Services is the one who is creating a deposit with multiple card types. They even have a statement on their website that says: “The check and card transactions are combined after 6/23/16.” (Picture 3-Center of image.) 

3_Merchant Statement Deposit.png

 

This only used to happen with a combination of credit card payments and ACH payments, now they are creating multiple deposit entries for even the same type of transaction. 

 

Two Visa payments were automatically recorded as two deposits in QuickBooks Check Register, the first for $186.85 (Picture 5&7) and the second for $360.00 (Picture 6&7), yet were actually deposited together as one deposit of $545.85 in my bank account. (Picture 8) 

5_First Deposit.png 6_Second Deposit.png 7_Check Register Two Deposits.png 8_Merchant Statement Deposit.png

 

The merchant center has now started automatically creating deposit entries once all payments have been added. Before the changes at the end of last year, I could at least just add the payments and create my own deposit entry and dismiss their multiple entries. Is there any way to get an option to bypass the automatic recording of the deposits and fees and be able to record them myself?

1 Comment 1
Rose-A
Moderator

Merchant Services Recording Deposit Entries Incorrectly

Hi, azpcp.

 

I appreciate the screenshots you've provided. QuickBooks only accepts the transactions provided by your bank. However, you have the option to unmatched the transactions and manually received the payments.

 

Ensure you select the Undeposited Funds when receiving them. You can refer to this article for the detailed steps and instruction: Deposit payments into the Undeposited Funds account in QuickBooks Desktop.

 

Also, you can check these resources to help you record the deposits from Merchant Services:

 

If you're still getting the problem, I'd suggest getting in touch with our Merchant Services Center. They have the tools required to perform any escalations in the system whenever necessary on your behalf.

 

You can contact them via this link: https://quickbooks.intuit.com/learn-support/en-us/payments/contact-payments-support/00/376458.

 

Kindly post an update on how things go on your end. I want to make sure everything is all sorted out and I'll be right here when you need anything. Have a wonderful day. All the best!

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