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Matt Johnson_CHD
December 3, 2024
Question

Sales overstated with deposits

  • December 3, 2024
  • 2 replies
  • 0 views

Hi All,

I created a sub account of sales e.g. 'Indirect Sales' to track sales to retail outlets.  Invoices show up in Indirect Sales correctly.  But I've made a mistake when depositing payments - just not sure where.  These customers pay with a credit card through a service e.g. CORPAY.  When I do a 'Receive Payment' and process the credit card for the selected invoices, it is creating the deposit in 'Indirect Sales' for which the invoices already show the sale.  Not sure how to fix this.  I'd appreciate any help.  Please see attachment for an example.

 

Thanks, Matt.

2 replies

M
MelroseV
December 3, 2024

We can delete your deposit transaction so your record will be fixed, @Matt Johnson_CHD. Let me help you with the process.

 

Before proceeding, may I know if the deposit was manually entered within QuickBooks or if it's linked directly to your bank?

 

If it's manually entered, you can delete it by navigating to the All Sales tab. However, if it's linked to your bank, we can Exclude it instead.

 

Here's how to delete the deposit in All sales:

 

  1. Go to Sales.
  2. Select All sales.
  3. Look for your deposit.
  4. Click the drop-down arrow under the Action.
  5. Select Delete.

 

Additionally, I’ll include these articles for a comprehensive overview of your financial records and guidance on customizing reports to display the data you need.

 

 

Don't hesitate to return to this forum or respond directly to this message if you encounter any further challenges with your banking transactions or other QuickBooks Online tasks, @Matt Johnson_CHD. We're here to assist you with any aspect of QBO that you find challenging.

Rainflurry
Rainflurry
December 3, 2024

@Matt Johnson_CHD 

 

Your screenshot is a bit confusing because the amounts don't match.  Is that deposit for more than one invoice?  When you use New > Receive payment, QB creates a transaction type called 'Payment'.  Your screenshot shows a 'Deposit', not a Payment, which indicates that a separate deposit transaction is being created that is not tied to the invoice.  If the customer paid for more than one invoice with that $60 payment, the proper workflow is to go to New > Receive payment, check the two invoices totaling $60 and deposit them to your bank account.  Then, the bank feed can match the $60 deposit to the $60 payment received and not create a separate $60 deposit transaction.     

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