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WESBUDA
January 24, 2025
Question

Income Fields

  • January 24, 2025
  • 1 reply
  • 0 views

I own a small repair shop.  We fix and sell vacuums.  Use an 50 year old register with input options of sales, parts, labor and wholesale. Then options of attained or charge. And then a received on account button. 95% is attained and then just a few company's charge. The customer either pays with cash or credit card. The register doesn't record How they paid only if they payed or if we will bill them. So for each transaction we don't show if it is cc or just cash. At the end of each day we batch out and the credit card zeros out and goes to the bank. Then once a week I make a deposit of cash and checks and zero out the register. So I don't know how to make all the individual payments match up with the income accounts (sales, parts etc). The initial walkthrough generated 3 of the income fields for me and I added wholesale.  But do not understand how to match these 5 daily credit card deposits and weekly cash/check deposit with these. Do I not keep track of the categories and simply add a credit card deposit and bank deposit field?

1 reply

J
JeraldR
January 24, 2025

Hi @WESBUDA.

 

In QuickBooks, income accounts are connected to the products and services you've set up. You can select these items when you make transactions in QuickBooks (QB). If you have downloaded banking transactions, then you can match them with the ones you've created inside QB. Therefore, linking them together. If there are no transactions that match the payments you've downloaded, we can sort them into categories. Just add the details and choose the income accounts where you want them recorded. I'll guide you through the process:

 

 

  1. Go to Banking and select Bank Feeds. 
  2. Choose Bank Feed Center.
  3. Under the Action column click Select and choose Add More Details.
  4. Input the necessary details.

 

Are you also trying to match multiple downloaded payments in QuickBooks? If so, you can record each customer payments individually in QB, and then match them with your downloaded credit card deposits.

 

  1. From the Customers menu, select Receive Payment.
  2. Choose the customer from the Received From dropdown.
  3. Enter the payment amount.
  4. Verify the date and select the payment method.
  5. Select the invoices to apply for the payment.
  6. For discounts or credits, click Discounts and Credits.
  7. Click Save & Close.

 

After that, check this article on how to match bank feed transactions in QuickBooks Desktop.

 

To know your accounts are balanced and accurate, I added this article to reconcile your account in QuickBooks Desktop.

 

I’m here if you need more help with banking on QuickBooks Desktop. Just add a reply and I’ll help you out.

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