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Level 1

Electronic Deposits showing up as a payment and deposit

I am reconciling my checking account currently in April 2018. I noticed that the automatic banking (mine updates from my business checking) is also putting a payment on the account. When I delete the payment it also deletes the deposit. Couldn't find an article about this. I had to delete and reenter as a deposit and then match to the bank account.

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Anonymous
Not applicable

Electronic Deposits showing up as a payment and deposit

Hello, douglasjvolk.

 

Payments received in QuickBooks Online are automatically linked to deposits. If you'll delete the payment it also deletes the deposit. You can try to pull up your financial reports like Profit and Loss or Transactions List by Customers to see if there are duplicates before deleting payments.

 

Visit us again if you need any assistance while working with QuickBooks. We'll be glad to help you anytime. 

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Level 1

Electronic Deposits showing up as a payment and deposit

I am running into the same problem. Attached a screen grab. It's one transaction. There was interest paid to this savings account, but the deposit is also showing as a payment- which is throwing off the balance. Why does QB do this? and how do I solve this issue?

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QuickBooks Team

Electronic Deposits showing up as a payment and deposit

Hello there, @kinetopictures676.

 

I appreciate you for sharing a screenshot of what you’re seeing on your end. Allow me to share some details on how to fix duplicate interest or bank charges when reconciling or in the Bank Register.

 

In reconciling your bank register, you may see a duplicate record of your bank interest. This occurs when a transaction is mapped twice to two different accounts in your chart of accounts. Once as a bank fee and the other is interest income entry. 

 

Here’s how to fix this on the reconcile screen:

  1. Go to the Gear icon.
  2. Select Reconcile.
  3. From the Account drop-down menu, choose the appropriate bank account.
  4. Click the Resume reconciling button.
  5. Locate the bank fee or interest income to open the transaction.
  6. Click Edit.
  7. Correct the entry.
    • Bank fee entry:
      1. Go to the Account details section.
      2. Change the account from Bank to the Expense account you use for bank fees.
    •  Interest income entry:
      1. Go to the Add funds to this deposit section.
      2. Change the account from Bank to the Income account you use for bank interest.
  8. Click Save.

That would do it! This will fix the differences between QuickBooks balance and bank balance.

 

If the issue persists, I’d suggest contacting our Customer Care Team. An agent will be able to further assist you via secured remote access session.

 

Here’s how you can reach them:

  1. Visit: https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose the QuickBooks Product.
  3. Select your QuickBooks Desktop version.
  4. On the Contact Us page, select a topic.
  5. Click on Get Phone Number button to see the support number.

Feel free to click the Reply button if you have other questions about reconciling your bank registers in QuickBooks Online. I’m always here to lend a hand.

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