Pledges

Let's go through the steps and see which one(s) may have not happened...

First, when you receive the Payment for it you want to go to +New and select Receive Payment.  Then pick the Customer and then follow the rest of the prompts. 

Depending how your system is set up, the Payment may have gone into Undeposited Funds.  If so, you'll want to click on the Banking Menu and Make Deposit.  Pick the payment from the list and then confirm the Deposit is going to go into the correct Account.  Also confirm the date (if you're not doing this the same day you're making the Deposit.

So at this point you're Received a Payment and you've made a Deposit.

In the Bank Register the Deposit may stay Uncleared or may show Cleared if it has been matched to a Bank Feed.  It will not be Reconciled until you do the manual Reconciliation after receiving the Bank Statement.  To Reconcile you'll go to Settings (gear icon) and pick Reconcile.  Pick the Account you want to Reconcile and then fill in the Date and Balance.  Once that's done, check off the items on the Statement in QBO and when you're done, you should see a $0 balance.  If you do not see $0, something is wrong.  It might be that there was an extra item checked off or missed, might be a typo and some numbers got reversed, or it might be that you wrote a check for $101 and the bank took out $110 (more likely a typo or missed item, but the banks do mess up occasionally).  Bottom line is you need to figure out why you not at $0 and fix it.

So, I have gone in and started over on the pledge & gone through the steps exactly as you noted by doing a New transaction, receive payment, etc.  I don't show any undeposited funds after posting the payment.  However, when I go to reconcile I show both of the pledge invoices as "Payments" and the actual receipt of payments as "Deposits".  I can't clear the invoices since they show as payments and when I clear the deposits I do indeed get to "zero" on the reconciliation; however, the invoices remain as uncleared transaction "payments" on the reconciliation report.  I'm so confused.  Please help!

Hello, Rose. 

I'm here to clarify and shed some light regarding the uncleared invoice payments in your reconciliation page. 

Just to give an overview, the reconciliation page or the report won't show invoices. Instead, it will show the payments, which you'll be reconciling with your statements. 

As what Pete_Mc said, the deposits or payments may be cleared or uncleared. These will only show as cleared if they have been matched with an online banking transaction (or manually cleared within the register). 

Let's backtrack and go back from the start after recording the pledge and receiving the payment. Let's ensure those invoice payments (not the invoices themselves) are cleared.

Go to your bank register and manually clear it:

1. Go to your Chart of Accounts.
2. Click the View register button on the bank account where you recorded the payment.
3. Find the payment transaction, and click the "check mark" column until a "C" appears.
4. Hit Save. 

Alternatively, you can use the Online Banking feature to categorize and match the payment and the bank transaction (do this if you connected your bank account in QuickBooks). 

Just to add more details about the reconciliation part on Pete_Mc's reply, the general idea is to ensure you'll get the zero dollar difference.

Since you've successfully done that, I would suggest double-checking your bank statement and review those payments that have been cleared or not. Doing this ensures your QuickBooks records agree with your bank statement. 

I would also appreciate if you could provide screenshots about the reconciliation report. I'll be able to visualize and see what's going on and ensure you'll be able to clear those payments properly.

Need to run reports to check on your organization's financial data? Feel free to use this article as your guide: Run reports in QuickBooks Online.

Looking forward to your reply. If you have any other concerns regarding pledges or any other transactions, do let me know by adding more details to your reply. I'm here to help.