Banking

We were on Desktop to close 2024.  We did not have our bank accounts connected so everything was entered manually.  When we migrated to QB Online on January 1st we did connect to our bank accounts.  Unfortunately, about $5900 had to be excluded in January since these were all expenses manually entered and reported in December.  In order to reconcile I must somehow process these excluded items but don't want them to go into expense.  I've read some of your articles on handling excluded items and they talk about creating an equity account.  I could do that but not sure what the ramifications would be.  Any suggestions?

I ran a reconciliation for our visa which is connected via the bank feed to our QBO file.  Now the beginning balance is off by $50,000 even.  However when you click on the link in the error box "we can help you fix this" the reconciliation report says "no transactions showing for this account" but above the report is says $50,000 discrepancy difference.  I have gone to the reconciliation reports and the chart of accounts to look for a $50,000 transaction and there is none.  I have no idea where to find this discrepancy and where it came from.  

So after reading a few articles I think I know what to do but I want to verify the steps. So for the longest time I was the only with a Chase credit card.  So I created a Chart of account in QBO named "Chase CC" then under banking I connected my Chase credit card to the Chase CC chart of accounts.  I have been using it like this for 3 years and reconciled all my transactions this way.  Last month I added a sub Chase credit card for my new hire that needs to purchase things for the business.  I was thinking that since my credit card it the primary that all his transaction would show when they sync from the bank but they don't.  I created a new "Chase Emp1" chart of accounts and made it a sub account to my "Chase CC" chart of accounts, but QBO online won't let me because primary and sub can't be sync. So I think I have to do this;- Create a new chart of accounts named "Chase CC Master"- Under my "Chase CC" and "Chase Emp1" chart of accounts as sub-

Hey QB community! I have been finally taking over my quickbooks online to better understand my budget. On my profit and loss statements there are transactions that need to be reclassified.  I have figured out how to go back into banking and do this one by one, but I know there has to be a way to bulk reclassify. I have seen with accountant tools you can,  I cannot seem to find these accountant tools and I am not certain

Does anyone know how to connect Regions iTreasury with QuickBooks online?I see the option to download transaction but what about being able to connect it to automatic downloads?

When you issue a refund receipt in QuickBooks Online (QBO) for a payment made via Venmo, here’s how the transaction works:1. Determine How the Original Payment Was ReceivedIf the tenant paid you via Venmo directly, the refund must also be processed through Venmo (not QBO).If the tenant paid you via Venmo linked to your bank account, you will refund them from the same funding source (Venmo or your bank).If the payment was recorded manually in QuickBooks (not received through a QBO payment system), the refund will also need to be processed outside of QuickBooks.2. Process the Refund in VenmoSince QuickBooks Online does not directly send money to a customer when you create a refund receipt, you'll need to manually send the refund through Venmo:Open Venmo on your phone or computer.Locate the tenant in your transaction history or search for them.Send the refund amount manually.Note the transaction ID for your records.3. Record the Refund in QuickBooks OnlineOnce you've refunded the money vi

Original commenter did not share additional details

I have triple checked the start date, end date, and all transactions - QBO vs. statement. The # of transactions match for both debits and credits. The dollar amount matches for the credits, but not the debits. I cannot see where I'm off. I have run through the statement vs QBO three times and can't find it.

I did "Add a new deposit" on 1/29/25. There were about 5 checks in the deposit. The checks have been stolen.How can I pull up that deposit (the last one I've made) to find the invoice numbers and who paid me?.

I have a vendor who paid me for services and quickbooks is holding the payment without information as to why it is being held or under review. it has been two weeks without my funds being released. Terrible business practices!

Original commenter did not share additional details

I have a transaction going out of a bank account and the corresponding transaction going into another one for that same money. Usually I can create a transfer for one of them and then match the other one to that transfer. That way, both transactions match a single transfer. Right now, it's not giving me that option, it doesn't match them automatically or show the transfer in the "Match" menu. Why is that? One is a CC and the other one a normal account. The outgoing one is in dollars and the other in CAD, could that be a problem? I made sure to match the amounts and exchange rates.This double matching does work for transfers between other accounts but not for these ones.

No matter how many times I try to edit, QB automatically is adding the additional four digits to my ZIP code, which is causing it to not match the IRS records exactly.

I used one time and is locked

HiThe company I work for has a checking account they have used for a number of years.  A couple of years ago We received money donated for a sister company and deposited into the checking account.  The amount has been reducing and we have a separate class to show where expenses are posted to (which company).  Now my manager wants me to split the account in Desktop so that the account reflects the remaining balance of the sister company.  Please can you tell me the easiest/simplest way to do this (without having to undo 2 years of transactions) so that they can have this going forward. thank you so much

Does anyone else have issues with their QB Checking account statements being incorrect??? I don't see how I'm supposed to reconcile this account when the statements are wildly inaccurate. I do not understand how they can continue to get away with these shady practices. For example, the month I started the account the statement Account summary shows:Beginning Balance $0Credits +$2,347.70Debits -$1,288.54Ending Balance $1,059.16Calculate that & it comes out correct. However, the actual amounts are as follows:Beginning Balance $0Credits +$2,760.20Debits -$2,160.20Which does NOT come out to the ending balance. They don't show a running balance so there's no way to check the accuracy with that. How can an ACCOUNTING SOFTWARE COMPANY screw up something as simple as addition and subtraction???? Jump to the next month, the summary shows:Beginning Balance $1,059.16(which we've established was incorrect)Credits +$4,176.27Debits -$4,181.01Ending Balance $1,054.42The actual Credits are $6,688.

I've seen a few posts about this but none answer my question.  My client uses Square and QBO (but NOT the Sync w Square app).  I see the income they collect via Square coming in through the bank feed, and the transactions land in "Undeposited Funds".  I just noticed there are over 5000 transactions there! We have dutifully reconciled so most of those are reconciled ("R") in Undep FUnds.  But $1000 is on the balance sheet in this Asset account.  Since they are keeping track of all the client payments in Square, I just need to have the bank transactions come directly into my QBO bank account rather than go here. Am I right about that? if so, how do I get them moved and get this changed going forward? Or shouldn't I worry about it? It's the $1000 on the balance sheet that bothers me the most I guess.Thanks!

Topic - we all got the "invitation" to have Security Metrics handle our PCI Compliance.Situation - I use Merchant Services for all electronic payments and don't want to pay Security Metrics for doing nothing of value. Like many of us, I am INFURIATED with Intuit's lack of responsiveness with respect to those of us who exclusively use Intuit Merchant Services to handle 100% of our electronic payments. By this I mean, I never see or touch a customer credit card and literally everything goes through Intuit payment portals. My hunch is that they get a referral fee for sending people to SecurityMetrics (Intuit's preferred provider)... but that's just my guess. So, here's the deal: 1) You HAVE to complete a self-assessment questionnaire. The easiest place to do this (unfortunately) is through SecurityMetrics. Sign up for an account (it's free) and take the self-assessment. It'll take about 15 minutes, but just do it. You're legally required to do so. If you answer appropriatel

For over 17 days I have had the wrong balance on my Quickbooks Checking Account - which interestingly enough is in the negative where I have a healthy positive actual balance. I am unable to pay payroll, rent, utilities, car loan, etc - this is absolutely ridiculous and theft of my businesses money for over 17 days with no answers, no support, no timeline of rectifying this disaster. My case has been "ESCALATED" for many many days and to no avail. Quickbooks and GreenDot what the heck is going on - I NEED MY MONEY TO SURVIVE - HOW DARE YOU!

Hello everyone, I hope your new year is going well. I'm seeking guidance on handling return transactions with Forte credit card processor platform using QuickBooks Desktop 2020. Specifically, I'm having trouble recording the bounced transactions that are being netted against payments that have not bounced listed under the withdrawals on the bank statement. My client has received all payments before hiring me, however he did not use the settlement reports to balance properly. I have requested the proper reports. The original payment has been documented on the customer's account although it was returned.All clients have made secondary payments for the bounced transaction.In the make deposit window, you can see the bounced payment as well as the payment that actually cleared.Has anyone else encountered this issue with Forte?How do you handle return transactions in QuickBooks Desktop via credit card processor. I know this process can be complex. Any advice or best

A deposit that is showing as reconciled in the register is still showing up to be “matched” in the review screen. Should it be excluded or matched?

I have 2 separate Paypal transactions ($50 and $150) and need to match with one Sales Receipt ($200). How do I do this?

After converting from Sage 50 to QuickBooks Desktop Enterprise 2022, we have several erroneous entries in the undeposited funds account. These are old payment (from 2021) that have already been deposited and reconciled and need to be removed from appearing. How do we delete these entries so they no longer appear in the undeposited funds screen?

I would like to connect to my credit card provider to download my transactions into my checking account register. I know how to add a banking account but I want to know how I can download the credit card transactions into the same register as my checking account register.

Hello,I have a few questions regarding a vendor refund and how to categorize a refund. I entered a bill in the vendor tab and paid that bill, but we had to return an item back to the vendor that we did not bill to the customer.I now show the return on my bank transactions, how do I link that to my paid bill?Or what is the best way? Also, what category should a refund be? Is that income?