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Matching bank deposits to invoices

i'm transferring my mum,s books for last year to quickbooks and to say its all in a muddle is an understatement. I would like to know how to match bank deposit to multiple l invoices when deposit is less than invoices total.

example.

mr k smith invoice total £500

mrs j hill invoice total £600

mr p scott invoice total £800

invoice totals £1900

but bank deposit was only £1700 (mum kept cash on hand)

when i created invoices i did them as cash into undeposited funds, when i came to match bank transaction to invoices i can add mr k smith and mrs j hill easily but if i add mr p scott it goes over by £200. i originally thought to fix this was to add additional deposit (at the bottom of page) payee mr p scott amount -£200 which brings it back in line but don't know if that's the correct way to do it.


4 REPLIES 4
Established Member

Hi marionsxgal, Thank you for your query! You were on...

Hi marionsxgal,


Thank you for your query!


You were on the right track on matching these transactions. My advice would be to receive the payments on Mr P Scott's invoice in the system first, doing two partial payments, one for £200 (receiving it into the Cash on hand account) and the remaining £600 to the bank account. Then match the  invoices of Mrs J Hill and and Mr K Smith as well as the payment of £600 to the bank transaction.


Please find the steps below:

  1. Find the invoice for Mr P Scott by Sales > Customers > Mr P Scott > Click on invoice
  2. When the invoice opened up, click on Receive payment in the top right corner
  3. When the receive payment page opens up,. make sure on the "Deposit to" dropdown you choose Cash on hand account (not your bank account)
  4. In the amount received box in the top right, enter £200 pounds
  5. Save and close
  6. This will create a partial payment against the invoice for £200
  7. Now go back to the invoice and receive payment again
  8. This time make sure you choose your Bank account on the Deposit to dropdown, the amount should automatically show the outstanding £600
  9. Save and close
  10. Go to Banking > For review
  11. Find the transaction, click on the line of the transaction
  12. Click on Find match
  13. Tick the invoices from Mrs J Hill and and Mr K Smith, and the payment of £600 from Mr P Scott
  14. The balance should be the required £1700


Let me know if you have any queries. Or, if you'd like to go through this over the phone, you can call our dedicated team who will be happy to assist you. Our contact details can be found here  along with our opening hours .

Experienced Member

Re: Hi marionsxgal, Thank you for your query! You were on...

Hi, I have the same problem except that my payments do not show up in the list of available payment to match to the deposit.  I have one invoice for $500 and a refund to another customer for $200.  I know how to deal with the refund, but why is the $500 customer not on the list.  If I go to a larger deposit $2000 he is on the list of payment to match to.  

Thanks,

Mary Ann

QuickBooks Team

Re: Hi marionsxgal, Thank you for your query! You were on...

Hello there, Mary Ann.

 

There are instances that QuickBooks Online is unable to find or match the correct one. So we'll have to manually find the matching transaction.

 

Just follow these steps:

  1. Click Banking, then choose Banking.
  2. Go to the For Review tab.
  3. Look for the deposit, then click to open the transaction.
  4. Click Find Match.
  5. You can narrow the result by changing the data range.
  6. Choose the matching transaction, then click Save

I've got you an article for future reference: Add and match downloaded banking transactions.

 

Reach out to us if you have other concerns. Have a great day! 

Established Community Backer ***

Re: Matching bank deposits to invoices


@marionsxgal wrote:

 

mum kept cash on hand

 

 


You have to still credit the customer with what she kept on hand