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valentineheatingandair
February 28, 2019
Solved

Bank deposits split into multiple invoices...now won't reconcile.

  • February 28, 2019
  • 1 reply
  • 0 views

Hello, 

 

When we deposit checks into the bank, we deposit multiple checks at one time. When I go to match the bank transaction to open invoices, I have to split them into the various invoices. However, when I go to reconcile the account, I see 3 entries in the bank register: 

 

One credit for the original deposit amount (lets say $3460)

Below that is a credit for $3000 (for Customer A)

Below that is a third credit for $640 (Customer B 

 

How can I avoid this from happening? It's impossible to reconcile with this problem! 

 

Thank you! 

Best answer by Teri11_2

Make sure everything matches between invoice and payment, like dates, customer name, account, amounts invoiced, etc.   It is easy to click 2018 vs. 2019 this time of year.


Just to make sure you know, the end results should be: 

Debit - Cash

Credit - Revenue

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Another common setup, when you create invoices in QB, your setup may do these entries:

Debit - AR 

Credit - Revenue

 

Then when you receive payment, the system should make these entries for you:

Debit - Cash

Credit - AR

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1 reply

T
Teri11_2
February 28, 2019

Suggest look at report called General Ledger (which shows detail of all account transactions).

Look at the Cash account (QB calls Bank), and it is usually first account shown on this report.    Check to see if amount is actually counted twice in total or if it just looks that way on screen. 

V
valentineheatingandairAuthor
February 28, 2019

Thanks for your reply. I've attached an image. The general ledger does show 3 credits to the account. One is the deposit, and the other two credits show as payments (to the invoices that the original deposit is for)

T
Teri11_2
February 28, 2019

That is definitely not good, so you will need to delete one of them. Looks like you may have added vs. matching payment to open invoice.  I would remove both and go back to bank feeds to match. 

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