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Why would bank/ATM cash deposits automatically show as a payment in the ledger? They do also show, correctly, as a deposit in the ledger. Thanks!

Forum|Forum|4 years ago
July 25, 2021
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For some reason, every bank deposit shows as a payment AND as a deposit as a separate line item in the ledger.

QuickBooks Online

Best answer by Rubielyn_J

Thanks for getting back to this thread, @JosieGreens. Let me chime in and help you correct an ATM deposit that exists two transactions lines in the register.

In categorizing the deposit from banking, make sure to select income or expense or any account as long as it's not the same bank where the downloaded transactions come from. You may have chosen bank under the Category column that causes a separate line item in the ledger.

To resolve this, here's how:

Sign in to QuickBooks Online.
Go to the Banking menu and select the Banking tab.
Choose the tile for the account you want to review.
Click the transaction.
Under Category, select any account except the bank where these transactions come from.
Once done, click Add.

For additional information about reviewing downloaded bank and credit card transactions, feel free to review this resource: Categorize and match online bank transactions in QuickBooks Online.

When everything looks fine, you may start reconciling your account so that they always match your bank and credit card statements.

Keep me posted if you have other questions about your downloaded transactions in QuickBooks. I'll be happy to assist you again. Stay safe out there.

RenjolynC

I'm happy to see you in the Community, dgreen-josiegree.

I'll share some details about this situation.

QuickBooks depends on what your bank shares with us and how they're posted online. When adding transactions in the Banking page, make sure to check the category assigned.

In the meantime, you can select the transaction in question and click the Edit button. After opening the transaction, select More at the bottom and choose the Transaction Journal to see the account posting. If it's a deposit, debit should be bank account.

Please see these sample screenshots as a visual reference:

If the account posting is incorrect, you can Undo the transaction and re-categorize it again by following these steps:

Go to Transactions or Banking > Banking.
Select the Categorized tab.
Find the deposit and click the Undo link under the Action column. This will add the transaction back to the For review page where you can re-categorized it.

Here's a sample screenshot for a visual guide:

You can watch the video tutorial in this article on how to categorize and match your transactions: Categorize and match online bank transactions in QuickBooks Online.

Please let me know how things go after trying out the steps. I'll be around to help. Have great weekend!

J

JosieGreensAuthor

Thank you for the reply. I appreciate your time.

Everything "looks" ok but the issue is that for every ATM deposit there exists two transactions lines in the register: one under "deposit" and one under "payment". When the a deposit is made, I see it under "transactions to review" and after hitting confirm to be categorized into my linked bank checking account, it seems like an "payment" is also created and the deposit is essentially zeroed out from the total. this is causing a large difference into what QB thinks is in my bank account and what is actually in it. Please see image. Unless I'm doing something else that's wrong, which is entirely possible!

Rubielyn_JAnswer