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danvers
August 23, 2019
Question

Can't match invoices

  • August 23, 2019
  • 2 replies
  • 0 views
Trying to match bank lines to invoices. Invoice 160. Bank lines 101  & 48. Rest are CC fees. Made payment to invoice 160, bank lines won't show to match.

2 replies

D
danversAuthor
August 23, 2019

Can't edit question, because it just discards my changes :) 

 

 

Trying to match bank lines to invoices. 

 
  • I have an Invoice for 1 product $160. 
  • I have Bank lines come in for 101 & 48. Rest are CC fees. 
 
Method 1:
Made payment to invoice $160 to undeposited funds
bank lines won't show payment  to match, because 101<160 and 48<160
 
Method 2:
Match both bank lines to invoice. 
Remaining are CC fees. Can't add an expense to match to the invoice
(won't allow save)
 
This is what I currently do
Create Sales Receipt
Match to Sales Receipt
Add resolving line
Save 
This works but of course I can't use the products I've set up, and means I can't use invoices at all either.
JenoP
JenoP
August 23, 2019

Hi there, danvers.

 

QuickBooks will not be able to match them to the invoice if the bank has posted the payments separately.  

 

You might want to create a separate invoice for each product so you can use the invoicing feature. Another option is to exclude the multiple payments that were download. Then, manually the receive or record the payments in QuickBooks.

 

Go to the Exclude transactions section in this article if you want to try this option:  Match And Categorise Your Downloaded Bank Transactions

 

Also, can you tell us what happens every time you create an expense account or resolve the difference? This is to make sure that we give you the correct steps to address the issue. 

 

We'll wait for your reply. Thanks!

D
DEBookkeeping
September 5, 2019

1- Create a temporary holding account on the chart of accounts to receive the full amount.

On the left column: go to Accounting/chart of accounts/new

Account

Account type: Bank

Detail Type: Cash on hand

Name: Temporary Holding Account (or whatever you wish)

Save and close

 

2- click the invoice in question and select receive payment

Fill in payment date, payment method and reference if it exists.

Deposit to: Temporary holding account

Save and close

 

So now your invoice is paid.

 

Now we transfer the amounts to the corresponding accounts.

 

3- select top right the (+) tab/other/transfer and fill the selection tabs

Transfer funds from: Temporary holding account

Transfer funds to: to the account where the $101 where deposited

Transfer amount: $101

Date: date of deposit

Save and new (do same procedure for the $48)

 

3- to clear the $11 from the temporary holding account create a fee expense account

On the left menu Accounts/chart of accounts/new

Account

Account type: expenses

Detail Type: bank charges

Name: Credit card fees (or whatever you prefer)

Save and close

 

5.-Now create a journal entry to credit the temporary account and debit the bank fee account

Go to top right (+)/other/journal entry

Enter date of charge

Line one: Account: Temporary holding account, Credit: $11

Line 2: Account: bank fee account, debit: $11

Save and close

 

now you should be able to match the amounts

 

 

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