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Level 1

How can I credit a payment to a customer invoice from a credit card batch deposit in my bank feed?

I use the split screen to separate retail, services, tax, etc. but need to also credit a customer invoice from the deposit.
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How can I credit a payment to a customer invoice from a credit card batch deposit in my bank feed?

Thanks for posting your concern in our forum, @info1378,

 

I can share some insights on how to handle bank transactions and how to link them with customer transactions.

 

The split option in the Banking page will only allocate funds to different accounts but will not affect your sales. Therefore, creating a credit from there is not possible.

 

Please note that the data downloaded from online banking reflects the data in your bank statement, meaning, they are real time transactions. On the other hand, the transactions you create in QuickBooks represents the recording of the business cash flow the bank which will be used for reconciliation.

 

If you want to link a bank entry to a customer credit is through the Match option. The process goes like, creating a manual customer credit in QuickBooks and then matching it to the bulk deposit from the bank.

 

You can use a credit memo or bank deposit to record a credit. Just go to the + New button and find the option you want to use there.

 

Here is an example for you:

  1. Go to the + New icon and choose Bank Deposit.
  2. Proceed to the Add funds to this deposit section.
  3. Enter the customer names in the Received From column.
  4. Make sure to use Accounts Receivable for the Account so you can link it to the invoice.
  5. Add a Payment Method then the respective amount you received.

 

Once you're ready to apply this deposit as a payment on the customer's invoice, follow the steps below:

 

  1. Go to the + New icon and select Receive payment or Receive invoice payment.
  2. Fill in the customer’s name, and other required fields.
  3. (Optional) Fill out the fields for Payment methodReference noDeposit to, and Amount received.
  4. Proceed to the Credits section and select the deposit you just created.
  5. Add the amount you want to use in the Payments column.
  6. Make sure the total to pay is correct after applying the credit memo.
  7. Once you're done, hit Save and close.

After that, you may match the transaction to the bank entry. You can use the Find other records option to link a bulk deposit to multiple transactions in QuickBooks. Here's how it is done:

 

  1. Go to the Banking menu and select the account where you receive the deposit.
  2. Click the transaction to expand the options, then tap the Match radio button.
  3. You will see the Find other records button from there.This image shows an expanded view of a matching transaction.
  4. Find the invoice and the other transactions related to the deposit in the Records found.
  5. Select the link next to each record to get more details.
  6. Check the Deposit to field, then select Match.

See this article to learn more about managing bank transactions in QBO: Categorize and match online bank transactions in QuickBooks Online.

 

Let me know how it goes. I'll be right here if you need further assistance. Have a wonderful day!

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