Skip to main content
J
jockeyclubcanada
November 10, 2022
Question

Deposited some cheques into $US account, could not match so had to split the deposit. Invoices show unpaid. How do I record payment without messing things up??

  • November 10, 2022
  • 1 reply
  • 0 views
The deposit was reconciled and then we marked the invoices as paid because the split deposit didn't do that. QBO thought it was a double deposit, so removed the unreconciled payments from the chart of accounts. Reconciliation report looks good but now my invoices are showing as unpaid even thought they have been already. How do I fix that? Deposits were in June, so will it affect GST/HST filings which happened already?

1 reply

T
Trish_T
November 10, 2022

Hi jockeyclubcanada,

 

It's a pleasure to see you reaching out here.  Welcome back!  QuickBooks Online Multicurrency feature is a great way to record your transactions with the appropriate exchange rate.  I'd be happy to point you in the right direction, so you can balance your books as soon as possible!

 

In order to receive payment from your customers smoothly, you'll want to assign a foreign currency to them.  This will automatically apply the exchange rate on their forms based on the transaction date.  Exchange rates are updated every four hours.  Although you can split a deposit based on different categories, you can't split them based on different currencies.  Here's a helpful guide for your reference.  With regards to the reconciled account, changes made after reconciling can most definitely have a negative impact on other areas of your books.  For this I suggest reaching out to your accountant for their expertise and the best course of action.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

 

Please don't hesitate to reach back out with other questions.  We'd love to help!

Terms & ConditionsAccessibility statement