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JVinsight
Level 2

Quckbooks destop venmo deposit

With Quickbooks desktop, I invoiced and pay method was Venmo. When I deposited into the bank I used whole numbers. EX: client payed 10.51 via Venmo and deposited 10.00 into the bank, with the remaining 0.51 in Venmo. How do I show this in Quickbooks? When invoicing do I subtract the 0.51 and if so from what account? Is there a better ways to do this? thank you for your help.

3 Comments 3
Angelyn_T
Moderator

Quckbooks destop venmo deposit

Hi there, @JVinsight.

 

I can help you with recording your invoices and payments that were processed through Venmo.

 

When receiving an invoice payment, you can deposit the amount to the undeposited funds, then record a bank deposit with the expense account (remaining cents in Venmo).

 

Here's how to record a payment:

 

  1. Go to the Customers tab.
  2. Select Receive Payments.
  3. Enter the payment amount, then choose Undeposited Funds beside Deposit To.
  4. Save the transaction.

 

And, here's how to make a deposit:

 

  1. Click on Make Deposits from the Banking tab.
  2. Choose the payment transaction, then hit OK.
  3. Add an expense account on the next line (you can set up an expense account for the amounts in Venmo).
  4. Enter the cents in a negative value.
  5. Review the total amount of deposit (whole number), then click on Save & Close.

 

For additional reference about recording invoice payments in QuickBooks Desktop, you can check out this article.

 

You can also open the topics from our help articles for more tips and resources while working with QuickBooks in the future.

 

Please let me know how else I can help you with recording your transactions. I'm more than happy to help. Have a good one!

JVinsight
Level 2

Quckbooks destop venmo deposit

Thank you, the pics really are helpful!!!

JVinsight
Level 2

Quckbooks destop venmo deposit

thank you the pics are very helpful

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