Categories
Bank Register Credit Card Vendor Vendors

How to manually add few missing credit card transactions that were not in bank feed

How to manually add few missing credit card transactions that were not in bank feed

For missing bank feed credit card transactions, you should be able to manually enter bank transactions directly to the Credit Card Register in QuickBooks.

Here is how to manually enter my credit card transactions without downloading from the Bank.

From the Left Dashboard | Accounting |Chart of Accounts

Select the Credit Card account in question.

Click “View Register” under Action column.

(You’re now on Bank Register).

Select “Add CC Expense” from the drop-down arrow (right below Date column).

Enter transaction information and save.

It will automatically update the running balance.

Categories
Bank Register Check

How to enter handwritten checks in QBO

You can enter written checks directly to the bank register in QBO.

Here is how to manually enter my banking transactions:

From the Left Dashboard > Accounting > Chart of Accounts

Select Bank account.

Click “View Register” under Action column.

(You’re now on Bank Register).

Select “Add” Check from the drop-down arrow (right below Date column).

Enter transaction information and save.

It will automatically show running bank balance.

Categories
Bank Register Banking Reconcile Reports

How do I view or print previous bank reconciliation reports in QuickBooks Online QBO

To view or print the previous bank reconciliation report:

1. From the left Dashboard, select Reports.
2. Go to “For my accountant” section and select Reconciliation Reports.
3. Select Account. Select Report period.
4. Select “Statement Ending Date”.
5. Click “View Report” under Action column.
6. Click Print icon to print the report.

How to undo bank reconciliation in QuickBooks Online Accountant (QBOA) version?

Categories
Bank Deposit Bank Register Banking Customers

How do I match a new Invoice to a payment that’s already been deposited to a bank account

This article will show how to link a deposit from a customer to an Invoice. Let’s assume the customer payment was entered first through Bank Deposit (this may be from bank feed or entered manually) instead of Receive Payment form and then you’ve created an invoice later, you can follow the steps below to link the deposit to the invoice.

First, you will need to find the deposit you’ve originally entered in QuickBooks. To do that, follow the steps below:

  • Choose Accounting on the left > Chart of Accounts at the top.
  • In the Action column, select View register.
  • Locate the correct deposit and click anywhere on it.
  • Click Edit.
  • You will see screenshot something similar to this one below.

 

Now, edit the deposit. To do that, follow the steps below:

  • In the Received From column, select the drop-down arrow in row 1.
  • Choose the correct Customer’s name.
  • In the Account column, select the drop-down arrow in row 1.
  • Choose Accounts Receivable.
  • Click Save.
  • See below screenshot for reference.

 

 

The final step is to match the deposit to the Invoice.

  • Choose the Plus (+) at the top of the screen.
  • Choose Receive Payment.
  • Choose the Customer’s name.
  • The Receive Payment form will now show both the invoice and the deposit (you may need to scroll down to see both).
  • Put a check in the boxes next to the invoice and deposit.
  • Click Save.
  • See below screenshot for reference.
  • This process links the payment to the invoice.

 

 

The payment will now show in the Customer center listed as a deposit.
The payment will zero out the invoice and the Accounts Receivable.
 

 

Categories
Bank Register

How do I add to my bank register

This video will give you the step-by-step guide on how to enter transactions in a bank register. If you’ve just started QuickBooks Online and still wants to just add to your bank register (aka check register) like old way in QuickBooks desktop, this is the best video tutorial to watch. You can learn QBO in 23 minutes.

QuickBooks Online – Bank Register (old easy way to manually enter the banking transactions in QBO)

Views: Over 54,000
View Duration: 23:20
Likes: Over 1100

 


 




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Categories
bank feed Bank Register Banking

My bank balance is different than actual balance in QuickBooks register

QuickBooks Online – My bank balance is different than actual balance in QuickBooks register.

Different balance, why?
1. Outstanding checks
2. Deposits in transit
3. New Transactions for connected account
4. Duplicate transactions
5. Editing or deleting transactions
6. Beginning balance





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Categories
Bank Register Customers Invoice Receive Payment

How do you apply customer payment that has a merchant fee to an invoice in QBO?

You will need to group both your deposit and fee together so your deposit in QBO matches the bank deposit that was made in real life.

Here’s how to handle it in QBO at this time:

RECEIVE PAYMENT

  1. Create an Invoice for your customer as you normally would.
  2. From the home page screen, click the Create icon (+) when you’re ready to receive the payment from your customer.
  3. Choose “Receive Payment” from the dropdown that appears.
  4. Fill out the Receive Payment as you normally would, but ensure the Deposit to field reads “Undeposited Funds” account.
  5. Click Save and close.

receive payment deposit to uf
receive payment deposit to uf

 

BANK DEPOSIT

  1. From the home page screen, click the Create icon (+) when you’re ready to get the deposit, minus the fee, in your bank account.
  2. Choose Bank Deposit (under Other) from the drop-down that appears.
  3. Check off the payment from this customer (and any other payments in the batch).
  4. In the Add New Deposits area, enter in the fee as a negative number, so it reduces the overall deposit total.
  5. Click Save and close.

payment minus fee
payment minus fee

This will then match the deposit made to your bank account and record the proper account.

 

WATCH VIDEO

Categories
Bank Deposit Bank Register Banking Journal Entry Refund Receipt Sales Receipt

How do you match a deposit to a receipt when the credit card refund is more than the actual deposit

Example:
We received a credit card payment from customer A ($334.00) and sent a credit card refund ($1,000.00) to customer B on the same day. This resulted in a net negative deposit ($666.00) from our credit card merchant provider. How to match a refund receipt and a regular receipt in order to properly match the deposit in our bank account from the bank feed.

sales receipt
sales receipt

refund receipt
refund receipt

QuickBooks Online won’t allow creating a negative bank deposit. If the total deposit is negative, you will need to create a Journal Entry to move the funds from Undeposited Funds to the bank account.

deposit negative
deposit negative

Here’s how to create that Journal Entry and move the funds from Undeposited Funds account to Bank account.

journal entry
journal entry

  • Click the Create (+) at the top of your Home screen.
  • Choose Journal Entry from the drop down (if you don’t see it, try clicking Show more).
  • Set the Date of the transaction (same as bank posted transaction date).
  • On the first distribution line of the Journal Entry:
  • In the Account column, choose Undeposited Funds.
  • In the Debit column, enter the amount of the deposit.
  • On the second distribution line of the Journal Entry:
  • In the Account column, choose the appropriate bank account.
  • Set the Credit column to the amount of the deposit.
  • Click Save and close. This will show a deduction from the bank account in the Bank Register in QBO.

Next, you will want to group the Journal Entry with the payments to create a $0 deposit and remove the payments from Undeposited Funds.

deposit zero with je
deposit zero with je

  • Click the Create (+) at the top of your Home screen.
  • Choose Bank Deposit from the drop-down.
  • Select the payments (negative and positive) and the Journal
  • The entry you just created (the total should be zero).
  • Click Save and close.

Next, go back to banking center (bank feed). You may see MATCH now for that transaction. If not, click that transaction row for refund receipt. Locate and match transaction from the list there. Save.

radio button switch from add to find match
radio button switch from add to find match

match transaction
match transaction

Video Tutorial

QuickBooks Online QBO – how to match negative credit card daily sales receipts | refund deposit

Categories
Bank Register Banking Create Customers Expense Expenses Inventory

QuickBooks Online October 2015 Update

QuickBooks Online October 2015 Update Part 1 -Bank Feeds, Billable to customers, Attach photo receipt, Add foreign Bank

QuickBooks Online October 2015 Update Pt2 – ITEM TYPES Inventory, Non Inventory Service

Categories
Bank Register Banking Expense Expenses

How to enter monthly service charges and interest earned from bank accounts