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streetortrack
August 10, 2021
Question

Reconciling batch deposits with sales receipts

  • August 10, 2021
  • 1 reply
  • 0 views

Hello all.

 

I use QB Pro Desktop 2021 and have a question regarding batch deposits.

 

I use 2 payment processing companies that batch my transactions for the day, then deposit them into my bank.  Lots of daily individual payments lumped together and deposited as one.  I enter individual sales receipts for each order.

 

My issue is reconciling (matching) all the individual sales receipts with the lump sump deposit.

 

To add extra confusion, a customer may order on the last day of the month, I enter the sales receipt for that day, but the batch doesn't show up until at min. a day later, sometimes in the next month!  To make it more confusing for me is when the batch deposit is several days later like after a weekend.


What is the correct way to identify and record these?

1 reply

BigRedConsulting
BigRedConsulting
August 10, 2021

As you create a deposit for each batch, pick the sales receipts what are included in the deposit. Assuming you have daily batches, they'll be the sales processed yesterday after the cutoff time (which if you create the deposits daily will just be all of the remaining sales from yesterday) and the sales processed before the cutoff time today.

 

I can't think of how the end of the month makes it more complicated or confusing.

    S
    streetortrackAuthor
    August 10, 2021

    How do I select sales receipts already entered during the deposit process?

    Rubielyn_J
    Rubielyn_J
    August 10, 2021

    Thanks for getting back to this thread, @streetortrack. 

     

    I'd be glad to help you select sales receipts during the deposit process in QuickBooks Desktop. You can follow these steps below:

     

    1. Open your company file.
    2. Go to the Banking menu at the top portion.
    3. Select Make Deposits. It will open the Payments to Deposit window.

    4. Choose the sales receipts you created and click OK.
    5. Lastly, select Save and Close.

     

    You'll want to see the sales receipt that was deposited. You may run the Deposit Detail report. Let me show you how: 

     

    1. Go to the Reports menu.
    2. Choose the Banking tab and click Deposit Detail.

    3. Select the date of the data.
    4. Click the deposit to open it. 
    5. From there, check what is linked to the sales receipt. 

     

    In addition, let me share this resource to help you manage deposits in QuickBooks: Record and make bank deposits. This includes steps on how to review, delete and record recurring deposits. 

     

    You’re always welcome to get back to me if you have other queries about managing your deposits in QuickBooks. It’s my pleasure to keep you in working order. Keep safe and stay well.

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