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H
HBGD
April 30, 2024
Question

Match journal entries to deposits

  • April 30, 2024
  • 1 reply
  • 0 views

Hello,

 

We had to correct some Invoices by way of Journal Entries but now need to match these JEs to respective Deposits. While I have found advice on how to match JEs to Invoices, I haven't any to match to JEs to Deposits. Is this even possible? Hopefully the below JEs will help explain what I'm looking to achieve.

 

Thank you in advance.

 

AR                         12,000

     Revenue                12,000

 

Cash deposit         15,000

     AR                          15,000 

 

AR                        3,000

     Revenue                  3,000  

    

1 reply

A
AnneMariee
April 30, 2024

Hello there, 

 

Yes, it's possible to match journal entries to deposits, and I'm here to guide you through the process.

 

Before proceeding, here are some reasons why a match might not be recognized:

 

  • The journal entry was recorded in a different bank account.
  • The journal entry has already been reconciled.
  • The journal entry has been previously matched to another bank-downloaded transaction.

 

To ensure a successful match, I recommend double-checking the date, amount, bank account, and category of the entries to make sure they align. Once you've confirmed that all the details are correct, you can follow these steps:

 

  1. On the left navigation panel, click Transactions.
  2. On the Bank transactions tab, select the tile of the bank account with the transactions.
  3. Locate the transaction. It should indicate that a match has been found.
  4. Select the Match option. Then, choose the journal entry.
  5. Press Match.

 

After completing these steps, the deposit transaction should match the journal entry.

 

If you need more detailed information on how to find a match in QuickBooks, you can refer to this article: Tips for Working in QuickBooks Online’s Bank Feed: Matching Transactions.

 

For future reference, here's a guide on ensuring your QuickBooks accounts match your real-life ones: Reconcile workflow. 

 

Let me know if you have any questions or if you need further assistance. Just click the Reply button and I'll be here to help.

H
HBGDAuthor
April 30, 2024

Thanks but based on the example I provided that's not what I'm looking for.

 

This is for a cash deposit that was greater than the recorded AR so the bank trx was manually entered to Cr cash and Dr AR except now AR balance is over-applied by $xx so a JE was recorded to over-recorded AR balance to Revenue. Now I need to match these 2 AR Dr and Cr entries but as one is a deposit and another is a JE I'm not seeing an option. 

 

Hope this helps clarify what I'm trying to achieve here.

E
Erika_K
April 30, 2024

Thank you for adhering to the resolution put forth by my colleague, HBGD. Allow me to offer additional assistance and clarify things for you so you can match your entries. 

 

In QuickBooks, we can match the journal entries by recording them separately. In this case, we have to create three separate entries. I'll attached an image for visual reference. 

 

Once done, we can match these using Receive payment. I'll show you how: 

 

  1. Go to the + New button.
  2. Under the Customer column, choose Receive payment.
  3. Select the specific customer.
  4. Check the checkboxes for the three entries.
  5. Click Save and close. 

 

I'm still ready to assist you further with any questions regarding matching your journal entries in QBO, HBGD. Feel free to reach out whenever you encounter difficulties managing your journals. You can hit the Reply button or start a new thread. Stay safe, and don't hesitate to seek our assistance whenever necessary.

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