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Lwb01
January 20, 2025
Question

Multiple bank deposits

  • January 20, 2025
  • 1 reply
  • 0 views

Has there been a solution yet for matching multiple bank deposits to 1 sales receipt in undeposited funds?  For example we deposit all checks via mobile deposit which all show up individually from the bank. These need to be combined to account for the undeposited funds.  If there is no solution yet, what is the work around?  Thank you. 

1 reply

C
CharmieH
January 21, 2025

Welcome to the Community forum, @Lwb01.

 

Let me give you some insights on categorizing your transactions in QuickBooks Online (QBO).

 

Matching multiple transactions under the For review section to one sales receipt recorded in QBO is currently unavailable. We can only match one downloaded bank transaction to the manually recorded transactions in QBO. Moving forward, you can record the sales receipts separately to match them.

 

However, there were other ways to categorize transactions under the For review section without matching them with the sales receipt.

 

First, since you already have a record of a sales receipt in QBO, you can delete it and categorize the transactions under the For review section by clicking the Add button so you don't have to match them. These steps can save you time, and please use your bank statement as your basis.

 

Second, if you want to match every transaction under the For review section, you can create a record in QBO for each transaction to match them one by one. However, these steps could be time-consuming.

 

Please read the resources below, as this can help you match and categorize downloaded bank transactions and ensure maintaining a balanced account:

 

 

I would love to introduce you to the QuickBooks Live Expert Assisted team. They're a group of experienced experts ready to help you smooth out the financial operations of your business needs.

 

If you have additional questions about matching transactions, please drop them to this thread so we can get back to you as soon as possible. Have a great day!

L
Lwb01Author
January 21, 2025

Thank you. I don’t really care if the deposits offset & match as the bank transactions are accurate & my main source of information.  In researching others who have had this issue, it appears to have been asked for years & I was hoping it was an issue that was being worked on & had been resolved. My only issue is that this is accumulating a rather large amount in my undeposited funds account. What is the best way to “write off” this amount so it doesn’t continue to accumulate?  

JoesemM
JoesemM
January 21, 2025

You can make a bank deposit to write off the amount that shows in the Undeposited Funds, Lwb01. I’m here to offer insights and guidance on how to navigate this process smoothly.

 

You can group your deposits based on the transactions in your bank feeds. This ensures that each grouped deposit matches the transactions recorded in your bank feeds.

 

Here's how:

 

  1. Go to the + New and select Bank Deposit.
  2. From the Account ▼ dropdown, choose the account you want to put the money into.
  3. Select the checkbox for each transaction you want to combine.
  4. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  5. Select Save and close or Save and new.

 

For more details, click this article: Record and make bank deposits in QuickBooks Online.

 

Also, you can speed up the review of your downloaded bank transactions. Do this by creating bank rules and customizing your sales forms in QuickBooks:

 

 

If you have any questions regarding how to record a bank deposit or need assistance with QuickBooks, please feel free to reach out. I'm here to provide support and guidance. Take care.

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