Let me explain to you how matching deposits and revenue account allocation works in QuickBooks, Warmpools.
QuickBooks Online (QBO) automatically searches for transactions with possible matches and that includes those with the same amount and date. This provides users with more flexibility, a more effortless experience, and better search results.
You'll want to make sure to select the correct deposit. Ensure to open the transaction to see the full details and description, giving you accuracy when matching bank transactions.
On the other hand, properly setting up the Product and Services List, lets you automate accounting and ensure the creation of links to the appropriate details and summary reports. Yes, QBO will still preserve the allocation to revenue accounts on the Products & Services page. This means that the system will automatically use the revenue account assigned to the product.
To give you more details on how you can match your transactions, I've added this resource for your reference: Match Online Bank Transactions in QuickBooks Online.
Moreover, you may also want to utilize the product and services page using the inventory. Read this article, this helps you track all your stocks coming in and out of hand: Set Up and Track Your Inventory in QuickBooks Online.
Post your reply if you have any questions about multiple deposits or when matching your transactions. The Community is always here to cover all your needs. Have a great day ahead!
