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Level 2

Reconciling a Go Payment

Hello!  I recently switched to QB Go Payments to collect payment.  When a client pays, I 'collect payment' on the invoice to Undeposited Funds, and then email a Paid Invoice receipt right away.  I've noticed that when the payment shows up in the bank, QB wants to match it to two transactions - my undeposited funds waiting to be deposited and also the QB payment imported from Go Payment.  How do I avoid having the payment show twice?  If I wait for it to show up in Go Payment, I can't email a paid invoice receipt right away.  What is the best way to handle?  Thanks!

Solved
Best answer 05-22-2019

Accepted Solutions
Moderator

Re: Reconciling a Go Payment

Thanks for giving us additional details of your concern, MrsPSmith.

 

From the information you've provided, it sounds like you've sent an e-invoice to your customer and they clicked on the "Pay Now" button to make a payment. If so, allow me to explain how this works in QuickBooks Online (QBO).

 

Once a customer paid an e-invoice, the payment will automatically show on your Undeposited Funds account. It means that we no longer need to import the GoPayment transactions as they will create duplicate payments.

 

You're on the right track. The payments from the Undeposited Funds account should be deposited to the correct bank. Once done, match them to the transactions that are already entered in QBO.

 

Please follow the steps provided by my colleague above.

 

Then, delete the transactions that were imported from GoPayment to avoid duplicates. Just open the account register, locate the payment and select delete.

 

The information above should help you match the transactions correctly in QBO.

 

Reach out to me if you have additional questions. Please know I’m always ready to help. Cheering you to continued success!

View solution in original post

4 Comments
QuickBooks Team

Re: Reconciling a Go Payment

You're on the right track, @MrsPSmith!

 

Matching your payment transactions with the downloaded ones will remove any duplicates. Let me share additional information on how this works.

 

First, the Undeposited Funds is a temporary holding place of your payment transaction while waiting for the actual payment to be deposited or cleared in your actual bank account.

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Once the payments are posted in your bank, it will be downloaded automatically to your QuickBooks account. It will be listed under the For Review tab.

 

You can now go back to the payment transaction that you've initially recorded and update it.

  1. Open the payment transactions.
  2. Change its Deposit To account from Undeposited Funds to the correct bank account.

Once completed, you can now match your transactions, here's how:

  1. Go to the Banking menu.
  2. Choose the For Review tab.
  3. Locate the transaction with one or more possible matches to review.
    • If one match was found, the matching transaction appears in the Category or Match column.
      1. Review the transactions to make sure the match is correct.
      2. Click Match to accept it under the Actions column.
    • If QuickBooks found multiple matches, you must open the transaction row to review the possible matches.
      1. For multiple records, from the Action column, click View to open the transaction row.
      2. Review the possible matches listed under Records found.
      3. Select the correct transaction.
      4. Click Match to accept it.
    • If the possible match is not correct:
      1. Open the transaction.
      2. Click Find other records to open the Match Transactions window.
      3. Search for other possible matches.

For additional insights, you may check these articles:

If you have other questions about recording bank deposits, you can always go back to this post. Have a good day!

Level 2

Re: Reconciling a Go Payment

Thanks for the response. I guess part of my question is that when I go to deposit the Undeposited funds, it will also show the Go Payment deposit for the same payment.  I'm not sure how to avoid this.  When I accept the payment to send the paid receipt, it gives me both my received payment and the imported Go Payment when I try to deposit.   I have been depositing my manual payment and pretty much ignoring the duplicate showing from Go Payments.  Is that right, or should I be doing something else?  I hope this all makes sense. Thanks.

Moderator

Re: Reconciling a Go Payment

Thanks for giving us additional details of your concern, MrsPSmith.

 

From the information you've provided, it sounds like you've sent an e-invoice to your customer and they clicked on the "Pay Now" button to make a payment. If so, allow me to explain how this works in QuickBooks Online (QBO).

 

Once a customer paid an e-invoice, the payment will automatically show on your Undeposited Funds account. It means that we no longer need to import the GoPayment transactions as they will create duplicate payments.

 

You're on the right track. The payments from the Undeposited Funds account should be deposited to the correct bank. Once done, match them to the transactions that are already entered in QBO.

 

Please follow the steps provided by my colleague above.

 

Then, delete the transactions that were imported from GoPayment to avoid duplicates. Just open the account register, locate the payment and select delete.

 

The information above should help you match the transactions correctly in QBO.

 

Reach out to me if you have additional questions. Please know I’m always ready to help. Cheering you to continued success!

View solution in original post

Level 2

Re: Reconciling a Go Payment

Thank you so much to all who have replied to assist me!  I very much appreciate all of your help!

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