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Aminm
June 20, 2020
Question

Sales & HST Portion for recording sales from Bank Feeds

  • June 20, 2020
  • 1 reply
  • 0 views

I want to record sales coming from Bank feeds. Is it possible to auto calculate the Sales portion and HST portion? Now, I need to manually calculate Sales & HST to match with Statement amount. I attached the file for ready reference where first page refers when I see the bank feed transactions, second page when I select the transaction deposit as a sale and last page when I calculate manually Sales & HST amount to match with statement amount $22.59.

1 reply

L
LauraAB
June 22, 2020

Hello Aminm,

 

QuickBooks Desktop's Bank Feed is a fabulous option for easily matching transactions from the bank statement to what's in QuickBooks. It sounds to me from what you're describing that that's the process you're currently aiming to complete, but that the transactions aren't already in the books. Since they're not in the books, you're going in and creating them so you can match. I'll help you with this bank feed process to get you back to a quicker workflow.

 

Matching is certainly a great option available in the Bank Feed process. When you don't already have the transaction in your books though, you can simply Add the transaction, assign it the proper sales tax and other details, and then be on your way. This saves you from having to go in and create the transaction after the fact. The only thing to keep in mind with this is that the transaction may not be exactly the type of transaction you're looking for. In some cases, it creates a journal entry instead of say a sales receipt or an expense.

 

In your screenshots, you'd be looking to use the Add One to QuickBooks or Add Multiple button to get the job done. I've also got an article here that takes you step-by-step through managing transactions in the Bank Feed feature: Add and match Bank Feed transactions in QuickBooks Desktop

 

To get more help with this, feel free to get in touch with a QuickBooks Desktop expert. The Intuit QuickBooks Desktop software support policies article to learn how to get in touch with us.

 

Have a great week!

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