Learn how to fix QuickBooks Payments deposit issues so you can reconcile your accounts.
If you have QuickBooks Payments, you can process customer payments in QuickBooks Online. QuickBooks automatically puts the money in your bank account and categorizes everything in your chart of accounts. When you accept multiple payments in one day, QuickBooks groups everything and records them as a single deposit.
In rare cases, your bank may group payments differently. When you reconcile the account, you may notice the deposit in QuickBooks doesn't match your bank statement. We'll show you how to edit deposits in QuickBooks so everything matches.
Select the Activity & Reports tab and then Deposits.
In the Dates fields, select the date range you're reconciling.
Find the deposit you need to correct.
In the Fee column, select the deposit to expand the view. This lists all the payments grouped in the deposit.
Compare the list of payments with your bank statement. If QuickBooks grouped everything the same way and the totals match, you're good to go. You can continue reconciling the account.
If things don't match, don't worry. Keep the payment list open in your web browser and move on to Step 2.
Step 2: Correct the deposit in QuickBooks Online
Review the deposit QuickBooks created for you. Use your bank statement as the source of truth and the list of payments as a reference:
Find the account you're reconciling. It's the one you use for QuickBooks Payments. Then select View Register.
Find the deposit you need to correct. Tip: It should have "System-record deposits for QuickBooks Payments" in the Memo column.
Select the deposit to expand the view. Then select Edit.
Check your bank statement again.How did your bank combine the payments? If the bank combined two payments and recorded the third separately, but QuickBooks grouped all three together, fix the deposit in QuickBooks.If you've found the issue:
In the Deposit window, go to the QuickBooks Payments section.
Review the list of checked and unchecked payment transactions. If a payment is checked on the deposit, but it's not part of the deposit on your bank statement, uncheck it to remove it. Or select the checkbox to add a payment to the deposit.
Check the deposit total. It should match the deposit amount on your bank statement.
When the deposit in QuickBooks matches your bank statement, select Save.
Move a payment from another deposit in QuickBooks Online
Don't see a payment you need to add?
In rare cases, QuickBooks may have added the payment to a different deposit. Follow "Step 2: Correct the deposit in QuickBooks Online" to find the deposit and remove the payment.
Then follow the steps again to add the payment to the correct deposit.
The online program automatically matches a QuickBooks Payment and a corresponding deposit based on the following factors: unique ID, the deposit amount, and date. If your Financial Institution (FI) doesn't provide a unique ID for the transaction, QuickBooks may not automatically match all entries.
The online program automatically matches a QuickBooks Payment and a corresponding deposit based on the following factors: unique ID, the deposit amount, and date. If your Financial Institution (FI) doesn't provide a unique ID for the transaction, QuickBooks may not automatically match all entries.
The relationship between QuickBooks Online and your bank is a real-time picture. What this means is that your bank balance and the balance in QuickBooks Online will only match if you don't have any outstanding checks. Think of the QuickBooks Online balance as the balance that would be in your checkbook register.
If the difference between a sales receipt you already entered and a downloaded transaction is more than 5%, QuickBooks won't show a match. This usually happens when banks add processing fees that weren't on the sales receipt you created. If you know you've found the matching transaction: Go to the Sales menu.
When logging in the dashboard will display a bank balance and a QuickBooks balance. The bank balance is the actual balance typically reconciled form bank statements while the QuickBooks balance (shown as “In QuickBooks”) is the balance shown in the register.
Sometimes, the match is not found with the Find Match tool because the dollar amount in QB is higher than the bank transaction. I'm adding this screenshot as your visual reference. To fix this, edit the original transaction by adding the bank fee, then refresh the Bank feed window.
Here are a few reasons the match may not have been recognized: The transaction is older than 180 days. The dollar amount in QuickBooks is different than what cleared the bank. The transaction type is different in QuickBooks than at the bank.
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