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R
RRath
March 6, 2022
Question

How do I split a deposit between a customer invoice and a rent payment for which there is no invoice?

  • March 6, 2022
  • 2 replies
  • 0 views

How do I split a bank deposit thru bank feed - which consists of 2 or more checks

to give an example - deposit in bank is for $40,000 via bank feed. The amount consists of 2 checks - one from a customer for $35600 (with Invoice #....) and the other is towards rental income for $4,400 (for which there is no specific invoice). I would like to "receive" the $35,600 against the customer invoice and "add" the $4,400 to rental income.How do I do that ?

2 replies

katherinejoyceO
katherinejoyceO
March 6, 2022

Hi there, @BTLC.

 

Thanks for coming to the Community for your concerns. I'm glad to share with you the steps on splitting deposits in QuickBooks. 

 

Here's how:

 

  1. Go to the Banking menu, then select the account where the transaction was deposited. 
  2. locate and click the deposit, then select Categorize and click the Split button. 
  3. Click Add lines to add more lines since you will be splitting the transaction.
  4. Enter all the details including the amount and payee and its category. 
  5. Click Apply and accept.

 

You can check out this article to get additional information when splitting a bank transaction in QuickBooks Online.

 

I've added this helpful article in case you need to reconcile an account to compare each transaction on your bank statement with transactions entered into QuickBooks.

 

Get back to me if you have additional or other concerns. I'm always around here to help you some more. 

R
RRathAuthor
March 6, 2022

Thanks Katherine,

 

Much appreciated - I understand the split function but in this case one amount has to pay down an open invoice so I want to "match" that invoice and get it 'paid'. The other amount just goes as a credit to rental - there is no invoice to match. As I understand it - the split function allows me to "categoize" and "add" - but not "match" an open invoice

R
RoseJillB
March 6, 2022

Thanks for getting back for clarification, @RRath. I’ll provide you with step-by-step instructions on how to consolidate the payments in QuickBooks Online.

 

We can create a bank deposit to combine the two payments. To do so, you can follow the steps below:

 

  1. Click + New, then, select Bank deposit.
  2. Choose the account where you want to put the money into by clicking the Account dropdown.
  3. Select the transactions you want to combine. (e.g Invoice 101: $35,600).
  4. To add another transaction, enter the details and amount under Add funds to this deposit (e.g 4,400).
  5. Check that the sum of the transactions you've chosen matches the total on your deposit slip. Make a reference to your deposit slip.
  6. Then, select Save and close.

 

Once done, you can go to your banking feed to match the transactions to your deposit slip. Here’s how:

 

  1. Go to the Banking menu and select the Banking tab.
  2. Look for the transaction, and click the available Match button.

 

Also, if the button is not available when attempting to match the transactions, you can click the transaction to expand it. Then, click Find other matches. From there, you’ll have the option to look for the transaction that matches the deposit slip.

 

Categorize, match, and reconcile your account in QuickBooks Online by checking out the following articles:

 

 

Should you have any concerns with transactions, you can always leave a comment below. Have a great day!

T
TiffaniM35
November 9, 2022

I am trying to figure out how to fix something in our system.  We have multiple customers with multiple invoices.  We have received checks and deposited them together so for example we deposited two checks, one for one company and one from another.  One check is simple and applies to only 1 invoice, but the other check has multiple invoices it needs to be applied to.  It is not allowing us to apply it since it was two deposits.  Is there a way to correct this?  I used to use Enterprise which was a little easier one this aspect so just trying to figure out the loop hole around it.  Thanks! 

T
TirzahC
November 9, 2022

Hi, TiffaniM.

 

If we will deposit check to the customer, we can record it as bank deposit and the only account we can use is the Accounts Receivable (A/R) and then we assign the customer names and the amounts.

 

  1. Click the + New Plus icon. 
  2. Select Bank Deposit.
  3. From the Account dropdown, choose the Account receivable.
  4. Assign it to the customer and the amounts. 
  5. Press Save and close.

 

Then, let's apply for the available credit:

 

  1. From the customer's profile, select the Invoice.
  2. Click on Receive payment.
  3. In the Credits section, check the box for the deposit. 
  4. Click on Save and close.


When everything is all set, we might want to check out this link for guidance on how to manage your customers' payments and accounts:

 

 

You'll have my attention whenever you have any additional queries about invoices. I'm always here to back you up!

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