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mattlockwood
June 8, 2022
Question

System recorded deposits affecting bank feed and QBO balances

  • June 8, 2022
  • 1 reply
  • 0 views

Hi All, 

 

As of late, when I reconcile each month for some reason my QuickBooks balance and posted bank balance do not match with all transactions being correct and reconciled. I have found this is because within the system there exist "system recorded fees" and "system recorded deposits" that seem to be being automatically generated and entered into the system when I take an online payment from a client. I just delete the system recorded entries which seem to be happening on their own and then my balances match and there is no further issue. Is this a setting that I can change to not have this problem? What is the function of system recorded entries and how to I stop them?? It doesn't seem like they serve any function and are messing up my books. 

 

See attached screenshot, 

 

thanks. 

 

Matt

    1 reply

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    GebelAlainaM
    June 9, 2022

    Hello, @mattlockwood. I'll share some insights to help you avoid this kind of issue in the future with regards to system recorded deposits.

    If you use QuickBooks Payments, it will process and move transactions into your accounts automatically. Everything is normally recorded as a single record with a single total at the bank. The method your bank reported the deposit will not match the way you enter the same payments as individual records in QuickBooks.

    For you to avoid the same issue in the future, you'll need to match the bank transactions instead of adding it manually. At this time, the option to turn off this function in QuickBooks Payments is unavailable.
     

    You can visit this following article to give you more insights with managing deposits in QuickBooks Online.
     

    The Community is always open if you have any questions in managing your bank deposits or any other QuickBooks concerns. Have wonderful day ahead!

    M
    Mik6325152
    February 8, 2023

    I have this same issue.... There really just needs to be a way to turn it off. The bank feed is far more reliable and accurate, since the deposits or fees may not hit the bank account on the day the system generated nonsense is. Also, we're reconciling the bank account in quickbooks to the actual bank account. So if Quickbooks is just making up transactions willy nilly, it's just aggravating (understatement of the year).

     

    It REALLY makes no sense that quickbooks just decides to create these entries and then pull data from the bank, so when accountants/bookkeepers are working to reconcile things we have to go in, figure out which transactions need to be deleted, see "System Generated," know it's just there to waste our time, delete all of them, and hope and pray that was the only issue.

     

    I almost pulled my client aside because of this issue to talk with them and tell them to stay out of the books, because these entries are creating issues, but then I realized it was quickbooks. So now I'm telling Quickbooks to cut that crap out. It's annoying. It's NOT helpful. MAKE IT STOP!!!!

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    44 3 00
    February 17, 2023

    AGREED! This is so ridiculous - you say you must "match" the transaction instead of recording manually - THAT'S NOT AN OPTION! QBO does not even recognize the match when there is one.  

    This is one of several thousand reasons I hate this platform!

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