Skip to main content
C
char4ira-hotmail
November 23, 2024
Question

coding deposits

  • November 23, 2024
  • 1 reply
  • 0 views

My QBs account is connected to Clover, my POS system. Clover automatically downloads the daily sales information. Part of this entry is putting the amount sold into 'Sales'. QB is also connected to my bank. When the monies are deposited, whether from the CC processor or a physical deposit to the bank, it's coding it to 'Sales'. This is causing my sales to appear duplicate. Where should those deposits from the bank be coded to?  I don't see anything coding to A/R.  

1 reply

M
Mark_AG
November 23, 2024

Thanks for reaching out to the QuickBooks Community. I’d be happy to help you with your issue regarding duplicate sales entries caused by Clover and your bank connection.

 

When your Clover POS system sends daily sales information to QuickBooks Online (QBO), it should already record your sales transactions. Then, when your bank deposits the funds, those deposits need to be matched to the existing Clover sales entries to prevent duplicates.

 

When funds are deposited into your bank account, those deposits should be recorded as payments that match the sales transactions already recorded by Clover. These deposits should not be coded to the Sales account again, as that will create duplicates. Instead, they need to be coded to an Undeposited Funds account or a clearing account, which acts as a holding account for payments. The idea is to match these deposits to the sales entries already in QBO.

 

Here's how to match the deposits:

 

  1. Go to the Banking menu and find the deposit transaction downloaded from your bank.
  2. Select the transaction and click Find Match.
  3. Look for the corresponding Clover sales entry that matches this deposit. Select it to link them.
  4. If the deposit includes multiple sales, make sure all related transactions are selected to match the deposit.

 

Moreover, you can also consider reconciling your transactions to ensure they match your bank statement.

 

If you have any further questions or need additional assistance, please feel free to reach out. Your commitment to managing your finances effectively is commendable, and we're here to support you every step of the way!

Terms & ConditionsAccessibility statement