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How to match downloaded Bank deposit entry (less check fee) with sales receipt?

Hi QB Community
Need help on a below situation.
For example, I have a sales receipt for $1000. Customer paid thru third party payment gateway/Bill Pay and the third party charged a check fee of $25 and adjusted the same in the final payment/check. So now my downloaded bank deposit shows a receipt of $975 where as my sales receipt is for $1000. When I tried to a 'Match transaction' I could not complete it since there is a difference of $25 to match.
I tried creating a Journal entry for $25 with 'Debit' to Bank Fee A/c and credit on Bank Checking A/c, but it doesn't show up in for matching.
Appreciate any help.
Thanks
Solved
Best answer 07-30-2019

Accepted Solutions
QuickBooks Team

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt?

Hello there, anna_vvf.

 

I'd be glad to help you through the process of matching downloaded Bank Deposit with the Sales Receipt that has a different amount.

 

To match the amount of downloaded bank deposit with your sales receipt, You can create a Bank Deposit and enter the bank charge as a negative amount from the Add funds to this deposit section. I'll walk you through the steps below:

  1. Go to Plus icon.
  2. Click Bank Deposit.
  3. Select the Sales Receipt.
  4. From the Add funds to this deposit section, enter the bank fee (-$25). 
  5. Click Save and close.

You'll notice the Total amount of the Bank Deposit to be 975 dollars. I've attached a screenshot below for your visual guide.

 

Learn more about managing Bank Deposit in QuickBooks Online through this article: Record and Manage Bank Deposit in QBO.

 

You'll now be able to match these transactions from your Banking feeds.

 

Stay in touch with me if there's anything I can help you with. I'll be around in the Community.

View solution in original post

Established Community Backer ***

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt?

I would add that the original sales receipt should be "deposited to" the Undeposited Funds account and not the bank account so that it shows up for you to create a bank deposit in the first place. AND I would delete the journal entry you made as well.

View solution in original post

5 Comments
QuickBooks Team

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt?

Hello there, anna_vvf.

 

I'd be glad to help you through the process of matching downloaded Bank Deposit with the Sales Receipt that has a different amount.

 

To match the amount of downloaded bank deposit with your sales receipt, You can create a Bank Deposit and enter the bank charge as a negative amount from the Add funds to this deposit section. I'll walk you through the steps below:

  1. Go to Plus icon.
  2. Click Bank Deposit.
  3. Select the Sales Receipt.
  4. From the Add funds to this deposit section, enter the bank fee (-$25). 
  5. Click Save and close.

You'll notice the Total amount of the Bank Deposit to be 975 dollars. I've attached a screenshot below for your visual guide.

 

Learn more about managing Bank Deposit in QuickBooks Online through this article: Record and Manage Bank Deposit in QBO.

 

You'll now be able to match these transactions from your Banking feeds.

 

Stay in touch with me if there's anything I can help you with. I'll be around in the Community.

View solution in original post

Established Community Backer ***

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt?

I would add that the original sales receipt should be "deposited to" the Undeposited Funds account and not the bank account so that it shows up for you to create a bank deposit in the first place. AND I would delete the journal entry you made as well.

View solution in original post

Not applicable

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt

Thanks for the info, yes Initially I had accounted under Bank a/c but couldn't see it, then I chawed it to Undeposited Funds Acct, then it works fine.
Not applicable

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt?

Thanks for the info, It really helped, Initially I had accounted under Bank a/c but couldn't see it, then I changed it to Undeposited Funds Acct, then it worked fine.
Established Community Backer ***

Re: How to match downloaded Bank deposit entry (less check fee) with sales receipt?

My pleasure, I'm so glad that helped you! Warm Regards, Regina

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