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wplee
January 23, 2022
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How to reconcile multiple donations to a single bank deposit

  • January 23, 2022
  • 1 reply
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I'm using QuickBooks Desktop Premier Nonprofit Edition 2020 and have a question about reconciling bank feeds.  Let's say our nonprofit received two $100 donations from two different donors.  Each donation is recorded individually on the Donations screen, which creates entries in the Undeposited Funds account.  When the checks are deposited at the bank, both are processed in the Record Deposits screen, which moves them out of Undeposited Funds and into the correct back account.  So far so good.

 

Unfortunately, when the end-of-the-month reconciliation is performed and the bank feeds are imported into QuickBooks, I see a single deposit for $200 from the bank.  This does not match with either of the two $100 donations.  I don't see a way to "split" the $200 bank feed entry with the two individual donation checks.  How can this be reconciled?

Best answer by Rustler

MY only thought is that when you process the donations in make deposits, are you depositing them both with the same make deposit transaction, rather than one at a time?  The entry you make in QB should mimic real life

1 reply

Rustler
RustlerAnswer
January 23, 2022

MY only thought is that when you process the donations in make deposits, are you depositing them both with the same make deposit transaction, rather than one at a time?  The entry you make in QB should mimic real life

    W
    wpleeAuthor
    January 23, 2022

    Interesting, I hadn't thought about it that way.  I don't recall if I processed the checks in a batch when I recorded them in QB or if I did them one at a time.  Are you thinking that recording the checks in a batch in QB to match the way the bank deposited them would help?  I'll have to try it the next time I have multiple checks to deposit.

     

    In the meantime, if there's no way to match the existing $200 bank feed entry with the two individual $100 deposits I have in QB, is it safe to simply ignore the bank feed entry?

     

    Or another thought, is it possible to reverse these two deposits in QB and re-enter them as a group to match the bank feed?  QB gives me the option to "delete" or "void" the deposit; will either of these put the two donations back into "Undeposited Funds" account so I can record them together?

     

    Thanks.

    G
    Giovann_G
    January 23, 2022

    Hello, wplee.

     

    I'll share a way to match multiple donations to a single deposit in QuickBooks Desktop.

     

    The downloaded deposit won't automatically match the recorded entries since their different amounts. To fix this, you'll need to split the downloaded transaction. I'll show you how.

     

    1. Go to the Banking menu, then Bank Feeds.
    2. Select Bank Feeds Center.
    3. Tick the $200 bank deposit, then choose Add More Details from the Action dropdown.
    4. Locate for those individual $100 donations and ensure that the remaining difference is zero.
    5. Once done, hit Add to QuickBooks.

     

    Alternatively, you can ignore the downloaded bank transaction. Then, clear them manually from the account register.

     

    Here's how:

     

    1. Go to the Lists menu and select Chart of Accounts.
    2. Look for the account that needs fixing.
    3. Locate the uncleared transactions (two individual $100 donations).
    4. Clear them by putting a checkmark.
    5. Once done, click Record.
    6. Click Yes to confirm.

     

    To learn more about the online banking features in QuickBooks Desktop, check out the following articles: 

     

     

    Keep posted if you have any other banking concerns. I'll be here to help.

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