Is there a way to set up payment deposits weekly instead of daily?

Thank you for reaching out and clarifying your concerns about managing multiple daily deposits in QuickBooks Online (QBO), oov-treasurer. I understand you're looking to consolidate these into a single weekly transaction for smoother reconciliation. I'll provide more details below.

Currently, QuickBooks Payments processes each invoice separately. Every invoice you generate in QBO is linked to a unique payment link, and payments made through these links are individually processed and deposited into your bank account.

However, you have the option to streamline this process by creating an internal agreement with your customers to pay their invoices in bulk on a weekly basis. In this case, your customers can pay the last invoice by clicking on the payment link associated with it and entering the total amount payable for all invoices for that week. This will show as an overpayment for that single/last invoice since it covers the total payment for the week’s invoices.

Once this total payment is downloaded into QBO, you can match the single payment amount to all the pending invoices to mark them as paid. By doing so, only one consolidated transaction the total weekly payment will be posted to your bank feed and reconciled, significantly simplifying your bookkeeping and reducing bank fees.

You can also refer to this article for guidance on how you can run a report in QBO, such as the Transaction List by Customer which shows all transactions and subtotals of income and expenses per customer: Run a report.

Please let us know how else we can help you with your payments and other transactions in QBO, oov-treasurer. We're always here to help.