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dmvtitleexperts
September 7, 2022
Question

Quickbooks Metching with CommerceSync and multiple deposits for one invoice

  • September 7, 2022
  • 2 replies
  • 0 views

Hello,

I am new to quickbooks and accounting/book keeping - and so I don't have familiarity with the process, but I am learning with the help of our accountant to help manage the day-to-day transactions of my business that my husband is a partner in.

 

However, she cannot help me with this as she is unfamiliar with Quickbooks online and with Clover and CommerceSync.

 

We use CommerceSync to merge our data from our Clover Point of Sale to Quickbooks.

Most of the time this is very helpful. However, we have made deposits separately for an invoice, rather than in one deposit - going forward we will avoid this. But it has already been done and I need to know how to correct it.

I cannot match the transaction to the invoice that was already created in quickbooks via commercesync. It does not find the transaction. Due to the fact that the deposit is two separate deposits for checks or cash - but the total of the 2 deposits equal to the invoice amount. (I don't know if this matters, but the payment is also already recorded in Quickbooks via Commercesync immediately) So, All I am doing is needing to match the deposit from the bank to these transactions.

 

What do I do to make sure there are no double-entries, and to make sure everything is accounted for when I cannot make a match?

I usually can match the transaction and it goes to undeposited funds. Do I categorize the deposit a certain way first? Then - I am unsure if I should try to modify the existing entries for the invoices that were created from commerce sync to reflect the deposit(s)? I tried to do this, but I still could not match. Some guidance would be much appreciated. 

2 replies

G
GlinetteC
September 7, 2022

I've got the steps you'll need about fixing your deposit concerns so you can match them, dmvtitleexperts.

 

You'll have to create two (2) Bank deposit transactions and ensure to select the Accounts Receivable account from the Account column, input the customer's name who paid it, and then apply it to the invoice. 

 

Afterward, you'll have to create a receive payment and select the two deposits. 

 

Once done, you can find a match of the transactions and it will show under the Match transactions window.

 

That should do it! Need help reconciling your account, here's a detailed instruction to ensure your books are updated: Reconcile your account in QuickBooks Online.

 

If you need more help with banking or other related concerns, don't hesitate to add them below. I'll be happy to lend a hand.

D
dmvtitleexpertsAuthor
September 7, 2022

Hello, thank you for your prompt reply. 

Before I follow the steps you gave me, what should I do with the already created information?

The deposits are a part of a larger invoice for which credit cards have already been recorded as accepted as a payment on the invoices that were created with CommerceSync. When I follow the trail on the invoice - all the steps/workflow are complete - it just does not have the deposit as the last step on the invoice, merging it all together. Will the instructions you gave do that for the invoice?

Also, what do I do with the pending transactions in the "for review" tab for these deposits as well? As I normally "match" them. 

A
AileneA
September 7, 2022

Hello, dmvtitleexperts. 

 

QuickBooks Online will find a potential match based on the details of the transactions. These include the date, description, categories, and amount. 

 

The steps given by my colleagues above are to help you create a bank deposit and select the Bank account where the actual payment was deposited. Then apply it to the invoice. 

 

You can visit this link for additional information: Record and make bank deposits in QuickBooks Online.

 

Once done, you can now start matching the recorded invoice payments. By doing this, you'd avoid getting duplicates. Let me share this guide for the step by step process: Categorize and match online bank transactions in QuickBooks Online. 

 

You may refer to this article to see the instructions on how you can reconcile your accounts so they always match your bank to avoid discrepancies: Reconcile an account in QuickBooks Online.

  

Also regarding the pending transactions in the for review tab. They are the list of your downloaded bank transactions. You'll need to  match the transactions, to avoid getting duplicate records of your transaction in the bank register. 

 

Know that you can always get back to me if there's anything else that you need. I'll be here to you. Have a good one!

Fiat Lux - ASIA
Fiat Lux - ASIA
September 8, 2022
@dmvtitleexperts wrote:

I cannot match the transaction to the invoice that was already created in quickbooks via commercesync. It does not find the transaction.

 

@dmvtitleexperts 

Have you contacted CommerceSync to inquire about this issue? It seems that the connector can only mirror transactions into QBO but has no function to reconcile them. Another option, you should explore another connector for this requirement. 

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