Quickbooks is showing that I make double my income, because it's counting the invoices as payments as well as the actual deposits. How do I remove the invoices??

Oh! I had no idea you could match the deposits to the invoices. Thank you!

Do you know what to do if you go to match a Deposit to a Payment, and it tells you "The selected and downloaded transaction amounts don’t match. To continue, resolve the difference."? I believe it's because my payment processor takes a percentage out of each deposit.

Hello there, designbyjrs,

I can clear things out for you. When invoice payments are downloaded on your Banking page, you can match it to the invoice. QuickBooks will automatically record it as a payment and add it to your register.

On the other hand, you can resolve the difference by turning on the Resolve option. QuickBooks will then add a transaction you can review. Then, click Save to record the difference.

Also, if you use the Receive payment or Bank deposit feature to record the payment, I suggest excluding the transaction on your banking feeds. Doing this will remove the entry that keeps showing up, and prevent duplicate entries on your sales.

Keep me posted if there's anything else you need. I'm always around here in the Community forum to help.

Okay... I think what's happening is that my payment processor (Honeybook) isn't properly integrated with Quickbooks, as the transaction fees are supposed to automatically show up. I will have to add them in manually through the "Resolve" button until I can figure out what's wrong. Thank you!

I'm having the same problem, but this solution isn't fixing it. I am using QBO recurring invoices, so when I try to match to the invoice, it doesn't show up in the list of invoices to match to because the system already marked it as paid. It only shows up in my bank account register once. However, when I check my P&L it shows double income - once from the invoice and once from the deposit. I don't want to modify the invoice because I'm concerned it will bounce back to the client with changes. Any suggestions?

Hi, I am having the same problem, but this solution isn't working. I am using QBO recurring invoices (so the system makes the invoice automatically), and the system also knows when it's paid, and marks it paid. So when the deposit comes through, the invoice does not show up in the list of options to match to. The payment only shows up once in my bank register as the deposit. However, when I go to my P&L report it shows double income as it is recording the paid invoice and the deposit. Any suggestions? 

I’m here to help fix and manage these transactions, @lori258.

Thanks for joining this thread. Let me share some information so we can match these entries successfully in QuickBooks Online.

First, you’ll want to verify where the invoice payment has been allocated. Has it in your bank or in the Undeposited Funds?

If it's found on your undeposited funds account, then you'll want to create a Bank deposit in the program and then select the invoices you wish to match in the online banking. Here are the steps to do it:

1. Select the + New button.
2. Choose Bank Deposit.
3. From the Account ▼ dropdown, choose the account you want to put the money into.
4. Select the checkbox for each transaction you want to combine.
5. Make sure the total of the selected transactions matches your deposit slip. You can use your deposit slip as a reference.
6. Press Save and close.

Do not add the deposit in the bank feed. Instead, match it to the event to avoid double entry/duplicate income. By following these steps, the Profit and Loss Report will display accurate income information.

You can refer to this article about matching and categorizing online bank transactions in QBO. This ensures entries allocates in the correct account.

I'd love to help if you have additional questions about these transactions. Have a wonderful day.

I am using Quickbook Payments, so they are already set up to go directly to my bank account. However, I noticed that the Invoice is showing up in a QB account called "Accounts Receivable (A/R)". This is not one of my bank accounts, nor does it link to an actual bank account. My deposit is showing up in the correct account I have it allocated to. Is there a way to edit this? This seems to be why it's showing twice on the P&L. 

Hello @lori258,

Ideally, your customer's invoice will post into the account depending on the source account of the item used. Let's review your transaction journal to identify why they showing in your accounts receivable account.

1. Go to Accounting.
2. Select Chart of Accounts.
3. Find your A/R account from the list of accounts.
4. Under ACTION, select View register.
5. From the list of transactions, open the invoices in question.
6. Select More.
7. Click Transaction Journal.

In addition, you can read this article to learn more about the steps: What are Source and Targets?

From here, you go back and review the income account of the items used if they are incorrect. But if not, I'd recommend contacting your accountant for guidance in editing your accounts and understand them accordingly.

In the same manner, here's an article you can use so you can find one near you: Find an accountant or bookkeeper.

On top of that, I've also included this reference for a compilation of articles you can use while working with us: Know where you stand financially.

If you have any other questions, please let me know in the comments below. I'll be here to lend a hand.

I have a similar issue, however it has to do with when I deposit a number of cheques to the bank in one deposit (IE. the deposit is made up of multiple invoices). I have tried clearing the received payment from the invoices tab, and un-categorizing the bank deposit, then splitting the bank deposit in to the separate amounts related to each individual invoice however it still wont match the payments? 

Help!!

I can provide the solution to match the deposit to your invoice, emilywooding.

You need to use Accounts Receivable as the category of the deposit so you can link it to the invoice.

You can easily find the deposit entry on your bank register:

1. From the left menu, select Accounting.
2. Select Chart of Accounts under the Toolbar.
3. Find the account you deposited the payment to, then click View Register .
4. Locate and choose the correct deposit, select Edit.
5. On Bank Deposit screen, scroll down to Add funds to this deposit, then find the fund you need to edit.
6. On the Received From column, search and choose the appropriate Customer name.
7. On the Account column, select Account's Receivable.
8. Click Save and Close.
   
   

Once the deposit entry is updated, apply it as a credit to the invoice.

1. Click + New.
2. Under Customers, select Receive Payment.
3. Select the Customer's name. You should now see all open customer invoices and outstanding credits.
4. Add the Payment date.
5. Under Outstanding Transactions, select the Invoice you need to mark as paid.
6. Under Credits, select the deposit entry, then click Save and Close.
   
   

If you need to change or move a transaction to a different account, follow these steps to undo or unpatch it. Make all of your changes before your monthly reconciliations.

Don't hesitate to leave a comment below if there are other things you need to do in QuickBooks. I'm always glad to help you.

All my income in QBSE is added by my bank. Later I update it as personal or business. At year end I receive 1099's and some are duplicates of the business income that is already in QBSE.

Does QBSE see the duplicate amount once I fill out the online1099 statement in QBSE and ignore that income that was added by my bank? Or do I need to label the income in the register that is the same as my 1099 as personal so I do not end up with more income?

Thanks.

I appreciate the complete details you've shared, @eshare.

Let me share some information on how QuickBooks Self-Employed handles your 1099.

You've mention that you receive 1099 at the end of the year, are you perhaps referring to the 1099 form? If so and the amount reflected on it was already added in QuickBooks, there's no need to re-enter the amount. You're correct in tagging the transaction as Personal.

Meanwhile, you can use this URL when accessing your account and view the 1099 forms: 

 https://selfemployed.intuit.com/login#/contractor/clients. 

Lastly, I'd recommend consulting with an accountant so you'd be guided in tracking and managing your 1099 transactions.

Feel free to leave a comment below if you have other questions or concerns. I'm always here to help

I'm having the same issue with QBO showing double my income.  I realize it's because I'm not depositing payment correctly.  I create an invoice on a Monday and get paid for the invoice on a friday.  I go into QBO and select payment received.  However, my bank is also downloading the "Deposit".  I think this is where I'm running into problems.  I tried to work the fix you indicated for the person who started this post and I get to the point where I have to "undo" something and I don't have that option.  I deleted the deposit from the register and then found it in my review section however, there is nothing to "undo" there.  I then tried to "find match" but there is no found match.  I CAN find the invoice and it indicates "Paid (Deposited) but I don't know how to match the bank deposit with the invoice.  HELP... my QBO is WAY out of reconciliation! 

Hello there, KSCAGENT99.

If the banking deposit has a fee, you'll want to use the bank deposit option to combine the payment and fees. Duplicates will happen if you added the transaction instead of matching them. If you added the deposit to your banking feeds, you can undo the deposit first and match them. Just undo it in the Reviewed or Categorized tab. 

When matching your transaction ensure that the deposit or payment you recorded is within the date range you set on the Match transactions page. You also have the option to exclude the banking transaction if you already have recorded the payment within QuickBooks as a way to avoid duplicates. 

Feel free to use this link on how to manage your bank: Reconcile transactions that are older than your opening balance in QuickBooks Online.

Keep me posted on how this works. Take care!

Thank you!  I'm working on it and I think I understand.  It's going to take me awhile because I've been doing it wrong for several years (thank goodness he only gets paid once a week!).  I've been horrible at learning quickbooks and I'm afraid it's a mess, but I'll get there!

Hey there, @KSCAGENT99.

Thanks for following up with us. 

Please know that you can always reach out to the Community any time you have questions or concerns. We're happy to lend a hand to help you along the way. 

I also wanted to add since you're new to QuickBooks, that you can see short how-to videos on our Tutorials page. These videos cover everything you need to know about QuickBooks and how it works. 

Happy to have you aboard! Wishing you and your business the best. Take care! 

How about when you get the deposit, use the "for review" section in the banking section, click match, quickbooks automatically finds the invoice, I will then click match, and run a P&L and I will find individual line items from the invoice, I matched that deposit with, will show up on the P&L. So I will have the deposit showing up as income and and then one line item from the invoice showing up as income.  

You're doing it right, ndhp123.

If you're referring to bank feeds, that is exactly the correct process. After the deposit is downloaded, you'll have to review and categorize the transactions. Then, match them with the invoice. Please read this article for more information: Categorize and match online bank transactions in QuickBooks Online. 

Also, the Profit and Loss provides a summary of your revenue minus expenses for a specific period of time, such as a month, quarter, or year. Thus, It provides your bottom line net profit or a net loss.

For your reference, you can also run and customize reports in QuickBooks Online to provide the information you need. Please check these articles:

• Run reports in QuickBooks Online
• Customize reports in QuickBooks Online

You can always get back to me if you have any other concerns about deposits and payments. I'll be right here to help you.

Sort of the same thing happening here. Sales transactions are recorded in the form of JEs by the POS system and it pushes them into QBO. Then, when the payments come in through the bank feed (Deposits), they come in with the credit card fees deducted from the amounts so they won't match the JEs created by the POS system. How do I resolve that?

Let's make sure to match deposits to the journal entry created by the POS system, FF82.

Sometimes, when a bank item amount doesn’t quite match the amount in a transaction you entered. it's because you had to pay a small fee to process a sales transaction, or perhaps you received a discount for paying a bill early. You can enter an adjustment to resolve the difference. To do this, resolve the difference in a match:

1. On the Banking page, find an item with an amount that doesn’t match the transaction you entered for it.
2. Select the item, and once the row expands, click Find Match.
3. On the Match Transactions page, select the transaction to match. If you don’t see it, enter the search criteria above the table to find it.
4. Once you select the transaction, scroll to the bottom of the table and click Resolve difference on the right.
   
5. Click Add new expense for money spent; click Add new deposit for money received. A second table appears. (You might need to scroll down the page to see it.)
6. Complete the fields in the table to add the adjustment.
7. Click Save when you’re through.

This matches the transaction, bank item, and adjustment and moves it to the In QuickBooks tab on the Banking page. In addition, you can also run reports for specific accounts so you'll know each account's information. Here's an article that you can check out: Run Reports In QuickBooks Online.

Please touch base with us if you have questions about categorizing and matching transactions. We're always right here to help you all the time. 

I'm having trouble with this as well. I'm showing double income. When we do a deposit I match it to the invoice. There's no Accounts Receivable option for me to choose for a category, so i put it in as Services (all of our business is Services). However when I pull Services in my chart of accounts, I'm showing income for not only the invoice but also the deposit.  I thought I could change the categorization of the deposits to Accounts Receivable, but then that made all those deposits look like a refund was Overdue the customer.  I'm so confused!

Hello there, @shelt04.

It could be that you are adding deposit from bank downloaded transactions. That’s why you are seeing duplicate income. 

You can delete the duplicate transaction to correct and keep them accurate. 

 To avoid this issue moving forward, you can do the following:

• Create an invoice.
• Receive payment from that invoice.
• Make sure the transaction is deposited to the Undeposited Funds account.
• Record a deposit the payment.
• Match the deposit to the transaction downloaded in the Bank Feeds.

If the Account Receivable category is not showing, I'd recommend doing some basic troubleshooting steps. To start, I'd suggest logging in to your QBO account through incognito window. This way, you can check if it's a browser-related issue. 

Here are the keyboard shortcuts:

• Ctrl + Shift + N (Google Chrome)
• Ctrl + Shift + P (Firefox)
• Control + Option + P (Safari)
• Ctrl + Shift + P (Microsoft Edge)

Once logged in, re-select the A/R to verify if it's already performing well. If that works, you'll want to clear the cache of your regular browser to clear out the previous stored browsing data. Using another supported browser is a great decision too. 

If you need some resources, these links are for you:

• Categorize and match online bank transactions.
• Reconcile an account in QuickBooks Online.

If you have more concerns, please comment below. The Community is always here to help. Stay safe always, shelt04.