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May 5, 2020
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Match Deposit to multiple bank transactions

  • May 5, 2020
  • 1 reply
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I have multiple income transactions that are against my Undeposited Funds account. I am trying to group them together in 1 Deposit. Then I have multiple transactions that are hitting my bank account that add up to that 1 deposit. I am then trying to match the two together...

 

Ex. Deposit Transactions ( 120.00, 110.00, 90.00, 80.00 ) = 400.00

Ex. Bank Transactions ( 50.00, 50.00, 50.00, 50.00, 50.00, 50.00, 50.00, 50.00 ) = 400.00

 

How can I match these two together?

Best answer by AlcaeusF

Can I create the deposit and then just exclude the bank transactions ?


I appreciate you for getting back to us here in the Community, @seion.

 

Allow me to share additional information on your question about banking in QuickBooks Online.

 

Yes, you can exclude the downloading transactions from the bank feeds and create the deposits manually. However, you'll need to change the status to Clear directly from the bank register.

 

To exclude:

 

  1. Click Banking on the left panel.
  2. Choose an account.
  3. Put a checkmark on the transactions.
  4. Select the Batch actions drop-down.
  5. Hit Exclude Selected

You can change the status of the transactions by following these steps:

 

  1. Click the Gear icon in the upper-right corner.
  2. Select Chart of accounts.
  3. Search for the bank and press View register.
  4. Click the deposit.
  5. Below the check column, mark the field with the C letter. 

I've also included some articles in case you need some ideas about Undeposited Funds, as well as excluding and clearing bank transactions:

 

Feel free to hit that Reply button if you have any other questions. Have a great day ahead.

1 reply

May 5, 2020

Hello there, @seion.

 

At this time, matching multiple bank transactions to one deposit in QuickBooks isn't available. You can consider creating multiple transactions that match your bank transactions.

 

Based on your example, since each of the bank transactions has an amount of $50, you'll want to create transactions with $50 amount as well. This way, you can find a match for each of the bank transactions.

 

You can read this article to learn more about how to match bank transactions in QuickBooks: Match online bank transactions in QuickBooks Online.

 

I'm also adding this article for more information about categorizing bank transactions: Assign, categorize, edit, and add your downloaded banking transactions.

 

Please let me know if you need clarification about this, or there's anything else I can do for you. I'll be standing by for your response. Have a great day and keep safe.

seionAuthor
May 5, 2020

It's actually much more complicated then $50 transactions..

 

See my problem below

 

The sales receipts and square fees that = the deposit square made with its multiple transactions.

 

 

Below is the bank feed and the deposits from Square

Ashley H
May 5, 2020

Thanks for the response, @seion.

 

The way that the Deposit and the Transactions are set up won't allow you to match. Rest assured, you can reach out to your accountant for the best advice on how to record and match these transactions. They will also have tools that can help in this process.

 

If you have further questions or concerns, please don't hesitate and reach back out! I'm always here if you need me.