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dsruble13
July 2, 2018
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Deposit alone without applying to an invoice

  • July 2, 2018
  • 2 replies
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Is it possible to make a deposit without having an invoice to apply it to?  If so, how do I go about doing that?

    Best answer by ClayJ

    Ok I entered all my information except for "From Account".  At this time we do not have any money's in any of the accounts as we are going from one order entry system to Quickbooks.  Our old order entry system is a dos based program and we are not able to transfer some stuff over to Quickbooks.  Without choosing something in the drop  down menu under "From Account", it won't let me save and close.


    Hey there, @dsruble13.

     

    Thank you for getting back to me on this. I can clarify further on recording deposits in QuickBooks. Because the program is a dual accounting software, there needs to be a corresponding account alongside the "deposit to" account. This is usually an equity account of some sort, as I've seen other customers use this in the past.

     

    I hope this helps to clear any confusion. If you need anything else, feel free to reach out to me in the Community again. 

    2 replies

    AlcaeusF
    AlcaeusF
    July 2, 2018

    I'm happy to see you here, dsruble13.

     

    Let me assist you with your concern about making a deposit.

     

    When you receive payments from customers, you can deposit the payment directly to the bank account.

     

    Here's how:

     

    1. Click the Plus sign.

    2. Select Bank Deposit.

    3. Choose a bank account.

    4. Select a currency.

    5. Scroll-down to Add funds to this deposit and fill-in necessary information.

    6. Make sure to choose the correct income account.

    7. Click Save and close.

     

    You can also use sales receipts if you receive full payment at the time of the sale. This kind of transaction include payments by cash, check or credit card.

     

    Here's how:

     

    1. Click the Plus sign.

    2. Select Sales Receipt.

    3. Choose the name of the customer.

    3. Enter all sales information.

    4. Select Save and send or Save and close.

     

    Please remember I'm here anytime you need help. You can reach out to me by clicking the Reply button below.

     

      D
      dsruble13Author
      July 3, 2018

      Where do I find the PLUS sign?

      A
      Anonymous
      July 3, 2018

      Hi dsruble13,

       

      The Plus (+) sign is in the top right hand corner of your account, next to the magnifying glass.

       

      Thank you, Carly. :)

      S
      Shin2019
      September 12, 2019

      Hi. I have the same problem. I entered my deposit in bank deposit and credited sales. My profit and loss doesn't look right because I actually don't have the money in my bank account. All those were for sales of inventory and but it did not show the decrease in my inventory. How will I journalize my sales and inventory.

      PreciousB
      PreciousB
      September 12, 2019

      Welcome to the Community, Shin2019.

       

      To record sales, you'll have to enter either an invoice and sales receipt.

       

      When recording sales transaction, make sure to use an inventory item. This will reduce inventory and increase income in the Profit and Loss report.

       

      Let me give you an overview. Once you have a sale that isn't paid yet, you'll have to record an invoice. When your customer pays, enter a payment against that invoice and deposit it to your bank account.

       

      Here's an article to learn more about the accounts receivable workflow: 

      Accounts Receivable workflows in QuickBooks Desktop. This guide is for Desktop but is also applicable for Online.

       

      It's my pleasure to help, so please let me know if there's anything else I can help you with. I'll always be here to assist. Take care.

       

       

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