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BandN
April 12, 2024
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QB payment

  • April 12, 2024
  • 1 reply
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I made an invoice and QB payment took the fee related to that invoice and QBO recorded that amount as an expense.

When I received the payment, I matched it to the invoice and I had to resolve the difference by adding the fee as an expense. 

But now I have two expenses for the same transaction. One that was added by the system automatically and one that I added manually. 

 

Is there another way to do that where I don't have 2 transactions or do I need to delete the one that the system created?

    Best answer by JoanaC

    Thank you for your prompt response on the thread, @BandN. Let me assist you in matching your invoice and payment in QuickBooks Online.

     

    We can undo the categorized bank transaction from your client. Since you have QuickBooks Payments, we can turn on the automatic match. This feature will match invoices and payments automatically without you manually doing so.

     

    Here's how :

    1. Go to Transactions, then Bank Transactions.
    2. Select the Categorized or Reviewed tab.
    3. Select Settings ⚙ at the top of the transaction list.
    4. Turn the Automatic matching switch On or Off.

     

    Let me share these articles that can help you match your transaction:

     

     

    I'll be here if you still have questions about your bank transactions, Have a great day!

    1 reply

    MariaSoledadG
    MariaSoledadG
    April 12, 2024

    Let me guide you on how you can resolve this, Band. 

     

    In scenarios like this, you can record a deposit for the bank fees so QuickBooks automatically matches them with the payment. To create a deposit, you can follow the steps below:

     

    1. Go to the + New, then select Bank deposit.
    2. Under Add funds to this deposit, enter the bank fee. 
    3. Click Save and close.

     

    You can delete the transactions you've manually entered and record them as deposits. 

     

    In addition, learn how to reconcile an account to ensure that everything matches and is accurate. For more details, I've added this article: Reconcile An Account in QuickBooks Online.

     

    You can always get in touch if you have any questions about bank charges or payments. I'm always right here to help you.

    B
    BandNAuthor
    April 12, 2024

    Thank you for your response, 

     

    But when I do that, I still have the payment showing in my bank feed and when i try to match, there is nothing anymore since I did the bank deposit. 

     

    So the invoice was for $5,000

    The client paid $5,000 but quickbooks took $149.5 and the system record it from the start in the QBO (it show in the P&L report and the reconciliation). 

    And when I received the money in my bank account, I have that transaction showing in my bank feed for $4,850.5 and when I match it to the invoice for $5000 I have to resolve the difference of $149.5 so I add the fee to the bank fee account. But now I have two bank fees for $149.5 and it doesn't reconcile. 

    J
    JoanaCAnswer
    April 12, 2024

    Thank you for your prompt response on the thread, @BandN. Let me assist you in matching your invoice and payment in QuickBooks Online.

     

    We can undo the categorized bank transaction from your client. Since you have QuickBooks Payments, we can turn on the automatic match. This feature will match invoices and payments automatically without you manually doing so.

     

    Here's how :

    1. Go to Transactions, then Bank Transactions.
    2. Select the Categorized or Reviewed tab.
    3. Select Settings ⚙ at the top of the transaction list.
    4. Turn the Automatic matching switch On or Off.

     

    Let me share these articles that can help you match your transaction:

     

     

    I'll be here if you still have questions about your bank transactions, Have a great day!

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