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One deposit for multiple clients

Hi there,

We have a client that sends the deposits to the bank in batches. They recently started using QBO. The question is how to apply the payments to each client without creating a big list of items on the bank side.  So an example is a deposit of $1,000 shows on the bank statement. That deposit is for payments from 5 clients. When we apply the payment to each client, we don't want to see 5 different postings on the bank account. What is the work around?

 

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Best answer 12-05-2017

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Established Community Backer ***

Re: One deposit for multiple clients

Hi dolrivers,

 

I'd like to lend a hand with these payments.

 

If the deposit was made up of multiple payments from a single client, you'd be able to match the deposit to each manually entered payment. This would still show that the deposit is split between 5 invoices and clients, which allows users to keep track of those invoices, payments, and deposits more precisely. Since QuickBooks Online strives to ensure your data is accurate, the 5 payments from the 5 customers will be recorded as such, rather than one lump sum without an assigned customer. Here's where you can learn more about matching in QuickBooks Online: https://community.intuit.com/articles/1164872.

 

From here, you have the option to record the payments manually by going to the + icon and selecting Receive payment. Once you've recorded all 5 payments, you can go to Banking on the left navigation panel, check off the $1,000.00 deposit, go to Batch Actions, and choose Exclude Selected. This way, the imported transaction is out of your way, and you've still recorded the paid invoices manually.

 

If you have any further questions, please let me know and I'd be happy to help.

View solution in original post

1 Comment
Established Community Backer ***

Re: One deposit for multiple clients

Hi dolrivers,

 

I'd like to lend a hand with these payments.

 

If the deposit was made up of multiple payments from a single client, you'd be able to match the deposit to each manually entered payment. This would still show that the deposit is split between 5 invoices and clients, which allows users to keep track of those invoices, payments, and deposits more precisely. Since QuickBooks Online strives to ensure your data is accurate, the 5 payments from the 5 customers will be recorded as such, rather than one lump sum without an assigned customer. Here's where you can learn more about matching in QuickBooks Online: https://community.intuit.com/articles/1164872.

 

From here, you have the option to record the payments manually by going to the + icon and selecting Receive payment. Once you've recorded all 5 payments, you can go to Banking on the left navigation panel, check off the $1,000.00 deposit, go to Batch Actions, and choose Exclude Selected. This way, the imported transaction is out of your way, and you've still recorded the paid invoices manually.

 

If you have any further questions, please let me know and I'd be happy to help.

View solution in original post

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