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GregWM
February 12, 2022
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Single Payment/Deposit for Multiple Invoices

  • February 12, 2022
  • 1 reply
  • 0 views

I am pretty sure this is easy to do, just don't know how to do it. 

 

I got paid for 6 invoices in one Bank Deposit. How do I accept the deposit and then apply the deposit to show that the deposit is for payment agains the 6 invoices. The company chose to pay in one lump sum for all the invoices. The bank deposit shows in the my banking section, but I have not added it as of yet. Waiting on further instruction before doing so. 

 

Version QBooks Online

 

Thanks -GM

    Best answer by katherinejoyceO

    Hello there, @GregWM.

     

    Thanks for visiting the Community. I'll be your QuickBooks guide today.

     

    When recording your payments for multiple invoices, you'll need to temporarily deposit the payments to the Undeposited Funds. 

     

    Here's how: 

     

    1. Select + New, then select Receive Payment.
    2. From the Customer dropdown, select the name of the customer, then select the payment method.
    3. From the Deposit to dropdown, select the Undeposited Funds to group the payment with others. 
    4. In the Outstanding Transactions section, select the checkbox for the invoice you're recording the payment for.
    5. When you're done, select Save and close.

     

    Repeat the same process for all of the invoices that were paid together. Then, follow the steps below to deposit the transactions:

    1. Go to the +New menu, then choose Bank Deposit.
    2. Select the bank account where the actual payments are posted.
    3. In the Select the payments included in this deposit section, mark all the invoice payments that you want to deposit together, then click the Save and Close. 

     

    Once done, QuickBooks will automatically detect a match between your manually recorded invoice payments and the downloaded bank deposit. 

     

    You can follow the steps in this article to make it easy for you to match and reconcile your bank feed deposits with your multiple invoices. 

     

    I'm also attaching these articles about reconciliation that might help you in the future: 

     

     

    Feel free to visit and post again if you have follow-up questions or additional concerns. I'm always around to help.

     

     

    1 reply

    Rustler
    Rustler
    February 12, 2022

    The way it works is to receive the payments against the invoices, then use make deposit and deposit them all as a lump sum

    then download banking and match

    katherinejoyceO
    katherinejoyceOAnswer
    February 12, 2022

    Hello there, @GregWM.

     

    Thanks for visiting the Community. I'll be your QuickBooks guide today.

     

    When recording your payments for multiple invoices, you'll need to temporarily deposit the payments to the Undeposited Funds. 

     

    Here's how: 

     

    1. Select + New, then select Receive Payment.
    2. From the Customer dropdown, select the name of the customer, then select the payment method.
    3. From the Deposit to dropdown, select the Undeposited Funds to group the payment with others. 
    4. In the Outstanding Transactions section, select the checkbox for the invoice you're recording the payment for.
    5. When you're done, select Save and close.

     

    Repeat the same process for all of the invoices that were paid together. Then, follow the steps below to deposit the transactions:

    1. Go to the +New menu, then choose Bank Deposit.
    2. Select the bank account where the actual payments are posted.
    3. In the Select the payments included in this deposit section, mark all the invoice payments that you want to deposit together, then click the Save and Close. 

     

    Once done, QuickBooks will automatically detect a match between your manually recorded invoice payments and the downloaded bank deposit. 

     

    You can follow the steps in this article to make it easy for you to match and reconcile your bank feed deposits with your multiple invoices. 

     

    I'm also attaching these articles about reconciliation that might help you in the future: 

     

     

    Feel free to visit and post again if you have follow-up questions or additional concerns. I'm always around to help.

     

     

    T
    TimCST
    January 17, 2023

    Hi KathrinejoyceO,

     

    I made a mistake when putting the Bank deposits in, instead of saving the work and closing, I pressed "save and new", this has thrown the accounts out by quite some bit and I am not sure how to undo.

     

    Thanks

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