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MktW
September 13, 2018
Question

Creating Worldpay account for till transactions not linked to QuickBooks

  • September 13, 2018
  • 1 reply
  • 0 views

Hi, we're taking card payments for Sales through the till linked to Worldpay Merchant Services. We create the Sales Receipts in a Till Sales account - how do I account for the payments and deposits from Worldpay? Do I create a Bank Account called Worldpay and post everything to that account then transfer the payments received from Worldpay to the Current Bank account when they send it? Thanks for your help

    1 reply

    JamesC
    JamesC
    September 13, 2018

    Hi MktW,

     

    Thanks for joining us on the UK Community Page for QuickBooks Online. I hope you'll make good use of these pages on your QuickBooks Journey with Intuit.

     

    You're pretty much on the mark, it's done using another Bank account or an Undeposited Funds account which you name Worldpay. Whenever your customer pays using their card, you'd record that payment to the WorldPay Account and then use the Bank Deposit feature to deposit the amounts to the Bank Account in line with when Worldpay sends you the funds.

     

    One thing to consider is to deposit all of your Sales Receipts income, both card and cash into an Undeposited Funds (UF) account, then when you deposit the physical cash from your till you can record this as a bank deposit from UF; and then whenever world pay sends funds, you can record this as a bank deposit or transfer into the current account too.

     

    see this guide for some more information on Undeposited Funds: https://community.intuit.com/articles/1251574-what-are-undeposited-funds &

     

    Thanks,

     

     

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