Question

How to I tie two sales receipts to one bank deposit?

Forum|Forum|2 years ago
April 7, 2024
1 reply
0 views

Service industry. Owner made one bank deposit of two checks (individual job payments) from different customers. I created a sales receipt for each check. When reconciling, I want to tie both sales receipts to the deposit. How?

QuickBooks Online

Clark_B

Hello there, Mefitz97.

I'd be glad to help you link or tie your two sales receipts to one bank deposit in QuickBooks Online (QBO).

Firstly, you'll have to edit your two sales receipts in your bank register. Then, in your sales receipts, change the deposit to either the Undeposited Funds or Payments to deposit. After that, combine your two transactions by creating a bank deposit.

Here's how:

Go to the Gear Icon, and select Chart of Accounts.
Locate the bank or where you put your payment method for your sales receipts and double-click it.
Find your sales receipts through the bank register and then select it.
Select Edit, it'll route you to your sales receipts interface.
From the Deposit to drop-down, select Undeposited Funds or Payments to Deposit.
Fill out the rest of the sales receipts, and then select Save and Close.

After editing the two sales receipts, you can now combine your transactions through bank deposit. Follow the steps below:

Go to +New.
Under the OTHER, select Bank Deposit.
From the Account dropdown, choose the account on which your sales receipts with.
Select the checkbox for your two sales receipts.
After that, select Save and Close.

Once done, you can find your deposit in your bank register.

For reference, refer to this article: Record and make bank deposits.

I'll also add this article to help you reconcile your accounts so they always match your bank and credit card statements: Reconcile an account.

Stay in touch with me if there's anything else I can help you with managing your sales receipts to the deposit. I'll be right here to provide the information that you need.

M

mefitz97-gmail-cAuthor

I followed the steps 1-6 and 1-5. they were logical for me.

Then you said-

Once done, go back to your bank register and then check your sales receipts if they changed to deposit.

I thought that I would go back to the bank register and match those payments to the deposit but that is not the option given.

Now the deposit is listed twice. Hmmm...

Will watch the video links that you provided to try and sort it out.

Thanks.

JoesemM

Allow me to clarify things about the steps shared by my colleague in combining two sales receipts into one bank deposit, Mefitz97.

Yes, you're correct. You have to add those payments to your deposit. But make sure you deposit the sale receipt into the Undeposited Funds so the deposit won't be listed twice.

That said, review the created Sales receipt. Ensure it's deposited into the Undeposited Funds or Payments to Deposit account. Follow the steps 1-5 shared by my colleague above to combine your sales receipt and deposit it in a bank account.

To review the sales receipt, follow the steps below:

Select Sales and All Sales.
Click on Sales Receipt.
Choose the customer from the Customer dropdown.
Review the Deposit to option and make sure it's deposited to Undeposited Funds or Payments to deposit option.
When you're done, select Save and Close.
Click Yes to the message, “The transaction you are editing is linked to others. Are you sure you want to modify?”

Once done, you can match the deposit to the downloaded bank transaction. If it's already the bank or checking account, you can directly go to the matching process. I've added a screenshot for visual reference.

Also, you can speed up the review for your downloaded bank transactions. Do this by creating bank rules and customizing your sales forms in QuickBooks:

Please let me know if you have questions other than QuickBooks banking or reconciling accounts. I'm always here to help. Take care.

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