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We break out our deposits with multiple line items in order to record revenue to various classes. The line items will post to the correct revenue accounts by class for the income statements. But the system does not adjust the asset accounts in the same way. The asset accounts do not change on the balance sheet after recording a deposit. I want to pull a system balance sheet by class, but it's never balanced because of this discrepancy. Does anyone know why these ledger items are not posting to the asset accounts and what I can do to solve the problem? thanks.
"The asset accounts do not change on the balance sheet after recording a deposit."
It's unusual to post to an asset account when making a bank deposit. If you put an asset account on a line item of a deposit, it will decrease the asset value if entered as a positive amount and increase the asset if you enter it as a negative amount. What asset accounts are you posting to on the line items of the deposit? Can you share a screenshot of the deposit?
QB online seems to have gone backwards on this process. We just converted to online and all our deposits and transfer were posted to the unspecified column on the Stmt of Financial Position. On QB Desktop 2020 the deposit would break down to the correct class on the bank account gl line based on the revenue classification. For example - $2000 to General Fund revenue line , $2000 to Building Fund revenue line would then also post $2,000 to the bank account GL line in each class. On the bank reconciliation you would only see the $4,000 deposit. I don't even know how to correct this. What accounts do I need for these. I have a case going but the lady didn't even know what I was talking about. Don't know why they got rid of this feature on the Online service.
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