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AWP90
Jan 17, 2021 3:07 PM UTC
Question

Z Reports and Card Machines

Hi everyone, thank you for taking the time to read this question.

 

I have recently started bookkeeping and one of my first clients is a farm shop and cafe,

 

i am entering the daily z totals as a sales receipt into quick books and minus out the card transactions to send them to the appropriate bank account.

 

except the daily z totals for the card machines aren't corresponding to the amounts that global payments say they are depositing for the appropriate day so when it comes to reconciling the bank feed none of the transactions between card payment provider deposits and my z totals for card payments match.

 

what do i need to do to get this to be easier to match?

 

send the z total money to a clearing account and deposit the cash and card payments via that? 

10 replies

JonpriL
Jan 17, 2021 6:28 PM UTC

Hello @AWP90,

 

Let me help share how you can record daily sales and card payments in QuickBooks Online.

 

To start with, you're on the right track by entering a sales receipt for your daily sales total. Meanwhile, if the card payments and if they're the same entry with your daily sales, I'd recommend contacting the card provider to understand how they track the payments.

 

By doing so, you can be guided on how to match them with your daily sales in QuickBooks. With the clearing account, it is best to consult an accountant for guidance as to how the account can be used.

 

Additionally, I've also included this reference for a compilation of articles you can use while working with us: Sales and Customer for QuickBooks Online.

 

If you have any other concerns, please let me know by leaving any comments below. I'll be here to lend a hand.

AWP90Author
Jan 17, 2021 6:48 PM UTC

Thanks JonpriL

 

I followed the data entry as per the retail webinar I attended last month, but yes ill be in contact with the card company to see how they process and pay in the amounts.

 

In theory they use the corresponding date as the reference, but still doesn't seem to match 🙈

LisaP70
Jun 11, 2021 12:14 PM UTC

I am having the same problem. My accountant told me to enter the cash sales figure and the card sales figure as two different sales receipts, but when I come to match the card deposits to bank they are different as they have a charge applied. My accountant told me to do a journal entry for it but it's confusing me as I'm not trained just self taught. Looking to learn the best way to do this. 

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