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enquiries-twcthe
August 16, 2021
Question

75% of my revenue is via Go Cardless payments. I create a sales receipt for each customer as payment is already made, no invoice. is this the correct method to use?

  • August 16, 2021
  • 1 reply
  • 0 views
My turnover is reading double what it should. I can only think that quickbooks is adding all the sales recipts as new turnover, in addition to the linked bank account. how would i rectify this if this is right?

1 reply

Kristine Mae
Kristine Mae
August 16, 2021

Let me help you rectify your issue, Enquiries-twcthe.

 

You're already on the right path to create a sales receipt since the customer paid on the spot for goods and services.
 

Concerning the double reading, it looks like you're adding the downloaded transaction. You'll have to match it to the sales receipt instead to avoid duplicate transactions.
 

First, you'll have to undo the transaction so it will go back into the For review tab. Then, match the payment to the sales receipt. 

 

If you need something else, feel free to get in touch with us. We'll reply as soon as we can. Keep safe!

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    enquiries-twctheAuthor
    October 9, 2021

    thank you for you reassurance. I have started to match up those transactions. however I am a little stuck as I charge my customer say £20 but go cardless already deducts their 0.50p by the time its deposited into my bank. So how would I document the full sale value of £20? The only way I seem to be able to match is if I deduct the go cardless fee manually

    S
    ShiellaGraceA
    October 9, 2021

    Thanks for getting back to us, @enquiries-twcthe.

     

    Let me share some information about recording the £20 customer charge. You can receive the customer payment on the invoice along with the £20. Then, deposit the payment. From there, enter the -0.50£ using your Go Cardless fee account. This will make your bank deposit the total amount of 19.5£.

     

    Let me walk you through how to do it:

     

    1. Go to +New.
    2. Choose Receive payment.
    3. Make sure to select the Undeposited Funds in the Deposit to drop-down.
    4. Enter the £20 in the Amount received section. Make sure it's also posted in the Payment section.
    5. Click Save and close. See the image below.

     

     

     

    After that make a bank deposit. Here's how:

     

    1. Go to +New.
    2. Choose Bank deposit under Other.
    3. Under Select the payments included in this deposit, tick the invoice.
    4. Under Add funds to this deposit, select your Go Cardless fee account.
    5. Enter the fee as negative amount to bring up the correct Total amount.
    6. Click Save and close. See the attached image below.

     

     

     

     

    With the above steps, you're able to record your customer charge and match your downloaded transactions with QuickBooks.

     

    Refer to these articles for details:

     

     

    Keep me posted if you have follow-up questions or concerns with Go Cardless transactions. I'll be around to help. Have a wonderful weekend ahead.

     

     

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