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Tay18
June 14, 2022
Question

Matching credits/ refunds to received payment along with invoices

  • June 14, 2022
  • 1 reply
  • 0 views

Hi there,

 

I am having trouble matching transactions in banking if anyone can offer their help, in my case I receive lump sum payments that include a combination of invoices and credits back to customers. However, in QBO when matching transactions through banking, refund receipts nor credits memos appear as options for selection. I find this strange bc it is rather common to have such transactions occur that the answer would be simpler but if anyone could offer a solution it would be much appreciated.

1 reply

MaryLandT
MaryLandT
June 15, 2022

Let me help match the invoice to the payment downloaded on the Banking page, Tay18.

 

In QuickBooks Online, you'll first need to apply the credit to the invoice. That way, it will show the remaining balance on the customer's account.

 

Here's how to manually apply a credit memo to an invoice.

 

  1. Click + New, then select Receive payment.
  2. From the Customer drop-down, select the customer.
  3. From the Outstanding Transactions section, select the open invoice you want to apply the credit memo to.
  4. In the Credits section, select the credit memos you want to apply.
  5. For the open invoice in the Payment column, enter how much of the credit you want to apply.
  6. Leave the Payment method, Reference no, Deposit to, and Amount received fields blank.
  7. Fill out the rest of the form, including the Payment date.
  8. Make sure the total is correct after applying the credit memo.
  9. When you're done, click Save and close.

 

Once done, go to the Banking page and match the payment to the invoice.

 

Your next step is to keep to compare each bank transaction with the ones entered into QuickBooks. If everything matches, you can reconcile your bank accounts every month. Here's how to get started: Complete reconciliation guide.

 

Stay in touch with me if there's anything else you need about matching transactions. Just leave a comment below and I'll get back to you.

T
Tay18Author
June 15, 2022

Hi there, I think you miss understood what I am trying to do I am not trying to just apply a credit memo to an invoice I receive deposits to my bank in one whole amount that consist of multiple invoices and refunds for multiple customers. So when I bank match there are credits in there affecting that amount I am trying to bank match I am trying to find a way to bank match transaction to invoices and refunds. The refunds do not apply to the invoices in that transaction. But when bank matching there is no way that I can see to apply credits or a refund receipt to the deposit.

K
Kimjnwa90
February 24, 2023

I am trying to match my deposit from the bank to the credit and payments from Merchant Services.  So if I have $400 in deposits and $100 in credits the actual deposit to my bank is $300.  QB deposit only allows me to select the $400, how do I apply the $100 in the credits to match the deposit?

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