Question

Quickbooks Metching with CommerceSync and multiple deposits for one invoice

Forum|Forum|3 years ago
September 7, 2022
6 replies
30 views

Hello,

I am new to quickbooks and accounting/book keeping - and so I don't have familiarity with the process, but I am learning with the help of our accountant to help manage the day-to-day transactions of my business that my husband is a partner in.

However, she cannot help me with this as she is unfamiliar with Quickbooks online and with Clover and CommerceSync.

We use CommerceSync to merge our data from our Clover Point of Sale to Quickbooks.

Most of the time this is very helpful. However, we have made deposits separately for an invoice, rather than in one deposit - going forward we will avoid this. But it has already been done and I need to know how to correct it.

I cannot match the transaction to the invoice that was already created in quickbooks via commercesync. It does not find the transaction. Due to the fact that the deposit is two separate deposits for checks or cash - but the total of the 2 deposits equal to the invoice amount. (I don't know if this matters, but the payment is also already recorded in Quickbooks via Commercesync immediately) So, All I am doing is needing to match the deposit from the bank to these transactions.

What do I do to make sure there are no double-entries, and to make sure everything is accounted for when I cannot make a match?

I usually can match the transaction and it goes to undeposited funds. Do I categorize the deposit a certain way first? Then - I am unsure if I should try to modify the existing entries for the invoices that were created from commerce sync to reflect the deposit(s)? I tried to do this, but I still could not match. Some guidance would be much appreciated.

QuickBooks Online

L

lin_jcaj

Level 9

I've got the steps you'll need about fixing your deposit concerns so you can match them, dmvtitleexperts.

You'll have to create two (2) Bank deposit transactions and ensure to select the Accounts Receivable account from the Account column, input the customer's name who paid it, and then apply it to the invoice.

Afterward, you'll have to create a receive payment and select the two deposits.

Once done, you can find a match of the transactions and it will show under the Match transactions window.

That should do it! Need help reconciling your account, here's a detailed instruction to ensure your books are updated: Reconcile your account in QuickBooks Online.

If you need more help with banking or other related concerns, don't hesitate to add them below. I'll be happy to lend a hand.

D

dmvtitleexpertsAuthor

Hello, I am still unable to do this following your provided steps. I am stuck at the "Receive Payment" area. I start to receive a payment, and put in the customers name. And then it says there are no open invoices for this customer. I do see the deposits at the bottom of the manual entries I made from the first instructions.

The invoices I am trying to match have already been paid and completed, so there are no outstanding transactions for this, they just need to match the deposits. I'm not sure if that is relevant information for you to know. So, there already are invoices and payments created in the sales area for this transaction.

What should I do?

M

Mark_R

Moderator

Thank you for sharing additional information, @dmvtitleexperts.

Let me clarify things and help you match your invoice to the deposits.

Before we start, please know that QuickBooks doesn't allow you to match multiple bank transactions to one QuickBooks entry. However, you can match multiple QuickBooks entries to one bank transaction.

Since the invoice was already paid and recorded in Quickbooks via CommerceSync immediately, you don't need to process the receive payment option. All you need is to make a deposit to the payment and match it to the deposit from your bank. Here's how:

Sign in to your QuickBooks Online (QBO) account.
Click Banking from the left menu.
Choose the appropriate bank account.
Select the deposit you want to match, then click Find match.
In the Match transactions window, select the deposit you created in QuickBooks. Then, click Save.

I'll be adding this article for more guidance: Categorize and match online bank transactions in QuickBooks Online.

However, if you can't still match the deposit, you can consider excluding the deposit from the bank feeds. You don't need to worry about excluding the deposit since it was already recorded to QuickBooks.

Let me know how it goes, @dmvtitleexperts. I want to make sure this issue is taken care of.

Once everything is good, you may want to reconcile your bank account in QBO. This will help ensure your QuickBooks transactions match your bank and credit card statements.

Have a good one.

Fiat Lux - ASIA

Level 14

@dmvtitleexperts wrote:
I cannot match the transaction to the invoice that was already created in quickbooks via commercesync. It does not find the transaction.

@dmvtitleexperts

Have you contacted CommerceSync to inquire about this issue? It seems that the connector can only mirror transactions into QBO but has no function to reconcile them. Another option, you should explore another connector for this requirement.

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