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MF108
January 3, 2020
Question

WHen WorldPay settles our sales transactions, refunds exceed sales and QBO thinks the deposit is an expenditure. How to match in that case?

  • January 3, 2020
  • 7 replies
  • 0 views
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7 replies

payment after leaving
January 3, 2020

Hi MF108

 

Do you have  WorldPay synced using an app?

MF108Author
January 7, 2020

I created a QBO App that brings in the transactions from our Squarespace shopping cart via api run. Once I get the bank feed deposits from WorldPay, I match them up to the imported transactions. I could skip that part and exclude the WP deposits from Bank Feed, but matching gives me an extra confirmation (although I do match up during the bank reconcile process too).

Matching is easy except when WorldPay takes money due to refunds, then the bank feed won't offer invoices to match to. Thanks

payment after leaving
January 7, 2020

Hi MF108

 

You can account for supplier refunds by following the steps below.

 

Refund from your suppliers
1. Create a supplier credit (+ icon -> supplier credit)
2. Choose the correct date and supplier and expense account, put in the amount, choose VAT if applicable, save
3. Then click on the + icon again, and choose Bank Deposit, to show that the money went into your bank account
4. Choose the correct bank account on the top left corner, choose the date when the money actually hit your account
5. For Received from choose the correct supplier, for the account choose Creditors, put the amount in, choose No VAT

6. You will be able to match the deposit create above to the transaction on your bank feed

7. you will also have to match the supplier credit and the deposit together, select the plus icon select cheque, enter the payee in the top left had corner the deposit and the supplier credit will appear on the right select add on both and then save.

Bernt
March 18, 2021

I'm not very experienced at this, but can you automate the reconciling of your Worldpay online sales with Quickbooks?

This takes soo long at the moment.

EmmaM
March 18, 2021

Hello Bernt, You can set up banking rules(https://quickbooks.intuit.com/learn-support/en-us/banking-topics/how-to-set-and-use-banking-rules-for-downloaded-transactions/01/186468#M33) to automatically categorise the transactions when they come through the banking section and you can select to auto-add with that rule. Any Q's on the link we included just come back to the Community.

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