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jimmybigfoot
March 28, 2018
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How do I split a transaction to multiple invoices.

  • March 28, 2018
  • 2 replies
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Hi, I am new to quick books so bare with me.

I have two invoices for two different jobs and happened to get paid by cheque on the same day, so I went and banked them but the bank I use always puts the cheque amounts together.

 

Consequently, I need to split one transaction but match it to the two invoices.

 

Can anyone help me? I know the basics but I read somewhere about deposits but they sounded complicated.

 

Many thanks

Jim

Best answer by Rustler

@jimmybigfoot

 

You received checks to pay for invoices, do not worry about banking downloads


Use receive payments, check each invoice for that customer and receive the amounts. Make sure the account to be deposited to is undeposited funds.


then use make deposits when you get back from the bank. check off the two payments, select the bank account you deposited to, and insure the amount in QB matches the actual deposit, save.


THEN, when you download banking it just match the bank deposit to the QB deposit, if you use download banking.

2 replies

M
MichelleT
March 28, 2018

Hi there, @jimmybigfoot,


Thanks for joining QuickBooks. I’m happy you reached out to us to help you match the check with multiple invoices.


QuickBooks Online only allows us to split a downloaded transaction into multiple categories. Based on the information you provided, you’ll need to match the check with the two invoices you created for the two jobs.


This is to prevent duplicate transactions and doubling your income. Here’s how:


1.    Click Banking on the left panel.
2.    Select the bank from the Bank and Credit Cards drop-down menu.
3.    In the For Review tab, locate the check.
4.    Click the check and click the Find match radio button.
5.    Select Open invoices from the Show drop-down menu.
6.    Set the dates.
7.    Select the two invoices.
8.    Click Save.


Once done, you can click the Sales tab on the left, click Invoices on the top, then make sure the status of the invoices has been updated from Open to Deposited. You can also run the Profit and Loss report (Reports> Business Overview) to confirm the amount in the income account has not been doubled..


To learn more about matching bank transactions to existing entries in QuickBooks, you can refer to this article: https://community.intuit.com/articles/1164872


Please reach out to me if you need assistance while working in QuickBooks.

 

A
AgThorn
January 1, 2021

I have a similar, if slightly different twist on this split invoice need .. 

We have a non-profit and we have a donation received via Paypal (treated as a bank), but the funds are to be directed in two directions ... $200 to missionary support, and $100 to childrens fund.  

How do I accomplish this accounting? 

J
JamesDuanT
January 2, 2021

Thanks for joining in on the thread, AgThorn. I'll share the steps as easy as possible for you.

 

We can create a single deposit that is directed to missionary support and children's funds. Here's how to do it:

  1. Click the + New button and select Bank deposit.
  2. Select PayPal in the Account field and enter the Date you received the donation.
  3. Go to the Add funds to this deposit section.
  4. For the first line, select the following details:
    • RECEIVED FROM - missionary support
    • ACCOUNT - Accounts Receivable (A/R)
    • AMOUNT - $200
  5. For the second line, select the following details:
    • RECEIVED FROM - children's support
    • ACCOUNT - Accounts Receivable (A/R)
    • AMOUNT - $100
  6. You can add more details such as description, payment method, and reference number if necessary.
  7. Click Save and close.

Then, you can match the deposit to the ones in the Banking page. Meanwhile, you can apply the deposit as credit through the Receive Payment window.

 

Let us know if you need additional assistance in creating the transactions.

Rustler
RustlerAnswer
March 29, 2018

@jimmybigfoot

 

You received checks to pay for invoices, do not worry about banking downloads


Use receive payments, check each invoice for that customer and receive the amounts. Make sure the account to be deposited to is undeposited funds.


then use make deposits when you get back from the bank. check off the two payments, select the bank account you deposited to, and insure the amount in QB matches the actual deposit, save.


THEN, when you download banking it just match the bank deposit to the QB deposit, if you use download banking.

    A
    accounts212
    June 2, 2020

    Thanks! very clear.

     

    I wonder if you can help me with the following:

    I received 1 payment for multiple invoices, on items sold on a platform, but they reduced a % for fees.

    How do I enter this?

     

    Many thanks

    IamjuViel
    IamjuViel
    June 2, 2020

    Hello, @accounts212.

     

    You can receive the payments for each invoice. Just make sure to choose Undeposited Funds from the Deposit To drop-down. Let me guide you on how to do it.

    1. Go to the +New icon.
    2. Select the Receive payment.
    3. Enter the details of the payment.
    4. Select an appropriate payment method.
    5. To complete the transaction, click the Save or Save and new button.

    Once completed, you'll need to group the payments so that they'll show as one deposit on the register. Make sure to indicate in the deposit the fees that were deducted from it.

    1. Go to the +New icon.
    2. Select Bank Deposit.
    3. In the Payments section, put a check-mark next to the payments that you want to group.
    4. From the Add funds to this deposit section, enter the amount of the total processing fees.
    5. Make sure to enter the amount with a negative sign to denote an expense.
    6. Review the details of the deposit to ensure that its total matches with the joint payments.
    7. Click Save and Close or Save and New.

    You can refer to this article for detailed steps:  How to link a deposit to an invoice.

     

    Also, I've got these to help you tracking, categorizing, and splitting invoice payments in QuickBooks:

    Let me know if you have other questions about managing your invoice payments in QuickBooks. I'm always here to help.

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