How to handle deposits for invoices paid with credit card via intuit payments

1. In the Bank transactions, find the payment in the Pending tab.
2. Click Match.
3. On the Find other matches page, select the created deposit.
4. Select Match to save your changes.

Good day, Ryan.

We wanted to follow up and see if the solution we provided worked for you. Did it address your concern, or do you still need assistance?

Please let us know if you require further guidance. I'm happy to help.

Is there a more automated way to do this?

the deposits are already in my bank account because the bank account is connected to quickbooks. It seems strange I have to do a manual transfer in this process. Wouldn’t this manual transfer into my bank account cause it to be doubled? Since the bank deposits from the connection are positive and so would these transfers you mentioned. 

Is there a more automated way to do this? the deposits are already in my bank account because the bank account is connected to quickbooks. It seems strange I have to do a manual transfer in this process. Wouldn’t this manual transfer into my bank account cause it to be doubled? Since the bank deposits from the connection are positive and so would these transfers you mentioned.

Definitely, Ryan. When you use QuickBooks Payments, invoice payment and deposit are automatically created. You don't enter a deposit manually since the movement of funds is already handled by the program.

All you have to do is match the downloaded transaction to the created deposit. To further streamline this process, you can enable the Automatic matching option. Here's how to do it:

1. In the Bank transaction page, go to the Posted table.
2. Click the Gear icon (⚙), then toggle the Automatic matching button to turn it on.
   
   
   

Also, not all transactions can be matched automatically. For example, if your bank does not provide a unique ID for QuickBooks Payments, you will need to match those specific entries manually.

Let me know if there's anything else I can assist you with regarding your QuickBooks deposits.

When I select match for the bank transaction it does not show the invoice or the other transaction as an option to match.

Hi Ryan. The reason those payments are deposited into Undeposited Funds is that there is a QuickBooks Payments setting you need to toggle to automatically deposit them directly into your bank account.
 

The automated way to match transactions easily is to toggle the deposit to be directed to your bank account by going to Gear icon > Accounts and Settings > Payments. Hover over the Chart of Accounts section, click the Pencil icon, and choose the appropriate account for your Standard & Instant deposits and Processing fees. Please note that these changes will only apply to your future payment deposits.
 

You can't match the invoice or payment directly to your bank deposit because they're in different registers. The payment is in Undeposited Funds, but your bank deposit downloaded into your Bank Account. Creating a bank deposit moves the payment from the Undeposited Funds register to your Bank account register.
 

Once you create the Bank Deposit, both transactions will be in your bank register. Then you can match the downloaded bank transaction to the deposit you just created in QuickBooks.

You can refer to these articles on how to create a deposit and match them afterward:

• Record and make bank deposits in QuickBooks Online
• Match your bank and credit card transactions

This won't create a duplicate because when you create the Bank Deposit, you're recording that money moved from Undeposited Funds to your Bank Account. When you match it to the bank feed, you're confirming that the deposit you recorded is the same one your bank processed. QuickBooks merges them into a single transaction instead of creating two separate ones.

To confirm there's no duplicate, check your bank register after matching and should only see one deposit.

Please don't hesitate to leave us a response if you have other questions or concerns.