Memorizing Deposit Transactions that include Undeposited Funds

The option to create a memorized invoice payment and deposit with customer payment isn't available in QuickBooks Desktop (QBDT). Memorizing a deposit with customer payment will result in an error message, @safoglio.

1. Go to Banking, then Bank Feeds.
2. Choose Bank Feeds Center and select an account.
3. Locate the deposit, then select Match to existing transactions from the Action column.
4. Check the unpaid invoices, then tick the Resolve checkbox.
5. Head to the Resolve transactions table and select the financial institution charging the fee from the Payee column.
6. Select the appropriate expense account you use for tracking fees, then enter the amount of the fee or difference.
7. Add a memo as needed, then hit Save and add to register.

Thank you for the response. Regarding: ' I recommend using the regular workflow you're currently performing. However, instead of a single invoice for the AR balance, you can create a recurring monthly invoice for a smoother workflow. With this, ensure that your bank account is linked to QuickBooks for payments to be downloaded automatically" 

This section requires more detail to fully explain. The flow of deposits from my customer to my bank follows: 

- Customers pays Sports Engine (SE) with Credit card payment. (Example: 200 customers pay on the 1st of the month $10/each).

- Total payments received by SE on the first ($2000). SE fees are $1/transaction ($200).

- Deposit into my bank on from SE $1800 ($2000-$200).

- SE consolidates these 100 payments into one deposit for that day. The link of individual payment from customer to QB is interrupted by SE via the consolidation of the deposit. 

If I understand your comment above correctly, it would work IF the individual deposits transferred into QB via the bank feed.  Is this correct?

Note: SE can produce a report (vis excel download) that displays each individual transaction and the associated details of the transactions and fees deposited into my bank. If there is a way to manipulate this data and import into QB that might be a possibility. I really need some help with solving this excess manual process. 

I am also open to a call if that would help. 

Thanks 

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Thanks for returning to this thread, @safoglio. Let me clarify things to reduce your extensive time spent on data entry in QuickBooks Desktop (QBDT).

We can use recurring invoices instead of creating a single invoice for a more streamlined workflow, allowing us to match multiple invoices to the deposited payment amount in your bank using Advanced Mode in your bank feeds. As my colleague mentioned, please ensure that the bank account is connected to QBDT so that bank transactions can be automatically downloaded.

The deposited amount doesn't match the amount in an invoice transaction you entered because of the SE fees. When you go to the Banking page to match the invoice transaction and deposited amount, the amounts don't quite add up, yet they’re the same transaction. You can make an adjustment to resolve the difference.

Here's how to enter an adjustment to resolve the difference in a match:

1. Find the deposited amount on the Banking page to match the entered invoice transaction.
2. Choose the item, and once the row extends, click Find Match.
3. In the Add/Match Transaction page, select the transaction to match.
4. Scroll down and click Resolve the difference amount.
5. Scroll to the bottom of the table. Then, click the Add new expense to record money spent; click Add new deposit for the received amount.
6. Complete the fields in the table to add the adjustment.
7. Click Save once done.

On the other hand, matching the imported report via an Excel file to multiple transactions in QBDT is unavailable.

Also, you can contact our QuickBooks Desktop Support Team for further help. Our support representatives are available to conduct screen sharing using the necessary tools.

Furthermore, you can check out this article if you encountered problems when reconciling accounts: Fix issues when reconciling in QBDT.

Please let us know if you need further assistance managing bank deposits or any other QuickBooks issues. Have a good one.

I will give this a try and see if the solution significantly reduces the manual entries. More to follow. Thanks