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Level 1

Sales Receipt or Bank Deposit

When I got money from customer, after synchronization between QB and my bank it show that sales as Bank Deposit. Every time I am manually converting it to Sales Receipt. It is hard work to do.

Question:

1) Why I can not see Bank deposit from customer as my Sales?

2) Is there a way to create a rule that it automatically create Sales Receipt when I have Bank Deposit from customer?

3) Or maybe other way?

Solved
Best answer May 02, 2020

Best Answers
Highlighted
Moderator

Sales Receipt or Bank Deposit

Hello @ganili,

 

You can record the payment as a sales receipt since the sale happens on the same day. You can also utilize the Add and Match function so you won't need to convert each deposit. You can read through this article to learn more: Categorize and match online bank transactions in QuickBooks Online.

 

In addition, I'd recommend contacting your bank so you can appropriately map your sales transaction base on the affected accounts.

 

Lastly, here's an article you can read for ideas about where you can find your transaction after categorizing them: Find, review, and edit transactions in account registers.

 

If there's anything else that I can help you with, let me know in the comments. I'll be around to help.

View solution in original post

5 Comments 5
Highlighted
Moderator

Sales Receipt or Bank Deposit

Hello @ganili,

 

You can record the payment as a sales receipt since the sale happens on the same day. You can also utilize the Add and Match function so you won't need to convert each deposit. You can read through this article to learn more: Categorize and match online bank transactions in QuickBooks Online.

 

In addition, I'd recommend contacting your bank so you can appropriately map your sales transaction base on the affected accounts.

 

Lastly, here's an article you can read for ideas about where you can find your transaction after categorizing them: Find, review, and edit transactions in account registers.

 

If there's anything else that I can help you with, let me know in the comments. I'll be around to help.

View solution in original post

Highlighted
Level 1

Sales Receipt or Bank Deposit

Let me give you one simple example:

I am adding manually new bank deposit

New -> Bank Deposit -> 

Received from: Customer Name

Account: Sales

Description, Amount and etc.

And then I save it.

But the problem is that I can not see this transaction from main menu

Sales -> All Sales 

 

What I am doing wrong?

Highlighted
QuickBooks Team

Sales Receipt or Bank Deposit

Hi @ganili,

 

Allow me to clear things up for you. 

 

Directly recording a deposit transaction isn't considered a sale in QuickBooks Online (QBO). It has to be linked to a sales transaction, such as a sales receipt or an invoice. It will be entered as an unapplied cash payment

 

You can follow the steps provided by my peer, @JonpriL, to record sales transactions, as well as receiving the payment for these sale transactions. Additional details on this process for invoices can be found in this article: Record invoice payments in QuickBooks Online

 

Once your sales transactions have been recorded, along with their respective payments, you can refer to this article on how you can match them to your bank feeds: 

Categorize and match online bank transactions in QuickBooks Online.

 

Lastly, to ensure that your QBO bank account matches the balance of your actual bank account, you'll want to do a reconciliation. Take a look at this article for the steps: Reconcile an account in QuickBooks Online. This includes a short video, as well as screenshots for your reference. 

 

I'll be around in case you need further assistance. Feel free to drop a comment below, and I'll be sure to get back to you. 

Highlighted
Level 1

Sales Receipt or Bank Deposit

This is my exact problem as well. You are providing instructions on how to add a deposit that came in through the bank - that is easy. The problem is that, this is getting recorded as a "Bank Deposit" and it is not appearing as a Sales item. However, if we do the same for an expense, that transaction does appear in Expenses --> Expenses. Why is that expense transactions get recorded as an expense, but for a deposit we don't have the option to record it as a Bank Deposit OR  as a Sales Item. In this modern age, it is possible for customers to pay for an item with a direct bank to bank transfer. I understand a bank transaction could in fact be a deposit, but then give an option so that QB users can classify the transaction as a Sales.

 

The problem is that, yes we can record the bank deposit, however, if we run reports by customers or by Sales Account, the deposit does not appear there.

Highlighted
QuickBooks Team

Sales Receipt or Bank Deposit

Hello there, ijsamuel.

 

If a bank deposit is added from the bank downloaded transaction, it won’t appear on the Sales page and the customer’s transaction list. It’s directly posted to the bank’s register you linked to it. Also, as mentioned by my colleague those deposits that weren't linked to a sales transaction will show as Unapplied Cash Payment account in your financial reports.

 

For it to show on the Sales page, you can link the deposit to a sales transaction such as an invoice or sales receipt that’s manually added within QuickBooks. Just make sure that you use the Match option instead of Add to avoid duplicates. 

 

For the sales report, you can look into the bank's register you selected on the Category field. I'll show you how to pull that up: 

  1. Go to the Accounting menu and select Chart of Accounts
  2. From the list, look for the income account you selected on the bank downloaded deposit. 
  3. Click Run report from the ACTION column. 
  4. Under the Group by drop-down, you can select the Customer.

You can also look into this reference on how to customize reports

 

Let me know if there's anything else that you need help with. You take care and have a great day!

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