You are right. Matching deposits to Payments or Invoices can be a Messy process in QuickBooks and you mentioned a lot of the confusing points. I don't know how many hours I spent sorting out the payments, and Duplicates (a line showing as Deposit, a line showing as Payment). Sometimes, it worked if I changed the Category of a Deposit Transaction to 'Accounts Receivable A/R' -- but I had many issues with 'Undeposited Income' showing up in the Bank Deposit Detail Window. At other times, I had to click UNDO and rematch. Thanks for your video.
@MyCloudBookkeeping
3 жыл бұрын
I'm delighted it helped - this is such a confusing area! The bank feed is a great help when it is working well, otherwise it can create quite a mess :)
@DreamFirms
4 жыл бұрын
You have a great way of explaining things! Thank you for sharing your knowledge.
@MyCloudBookkeeping
4 жыл бұрын
My pleasure Tyler, thank you so much for saying so :)
@rayheath4448
3 жыл бұрын
Hey thanks for the super clear instruction on receiving payments and avoiding errors - yours is one of the best help videos I've found!
@MyCloudBookkeeping
3 жыл бұрын
Thank you so much Ray! Made my day :) Be sure to share and tell all your friends. Happy New Year!
@quickfix8917
10 ай бұрын
Combined múltiple payments on deposit using the undeposited funds account will help out a whole bunch! Thank you for your helpfull videos.
@MyCloudBookkeeping
10 ай бұрын
My pleasure! Delighted it helped, thanks for letting me know :)
@rramanauthor2992
4 жыл бұрын
this is super helpful! i know tons of people on Quickbooks that could use this video. thanks so much for sharing!
@MyCloudBookkeeping
4 жыл бұрын
Thanks for your feedback! Feel free to share :)
@pbsnyderman
3 жыл бұрын
so clearly explained, thank you! is the video about fixing incorrectly added / duplicated transactions available yet? cheers, peter
@MyCloudBookkeeping
3 жыл бұрын
Hi Peter, I ended up making a course - it is such a big topic, and can take a while to clean up. Here's the link: learn.mycloudbookkeeping.org/finding-fixing-duplicated-transactions-quickbooks-online I'd love to hear what you think. Good luck!
@annelizevandyk2825
3 жыл бұрын
Thank you, this has been the most informative video's ever. I am a newbie and based in South Africa. The notes are amazing!!!! Everything exactly what I need as an entrepreneur and more a marketing person. No bookkeeping qualifications, but have a bit of experience with Pastel. xxxx
@MyCloudBookkeeping
3 жыл бұрын
I'm delighted! Thank you so much for letting me know :)
@mariamehaddad
4 жыл бұрын
I really appreciated your video. Thank you! You really helped me to solve a challenge. Explanation was great. Clear and easy to follow. Much appreciation.
@MyCloudBookkeeping
4 жыл бұрын
Thank you so much for letting me know Mariam. I really appreciate it :)
@samrogers9515
4 жыл бұрын
Thank you! Very clear and helpful video! I'll stay tuned.
@MyCloudBookkeeping
4 жыл бұрын
Glad to hear it! Thank you so much :)
@mikareyes2766
2 жыл бұрын
Hi , i have an online transfer in bank feeds, but it was not in bank statement. is that even possible? how could i clear that please cause its showing as a difference in my recon. Thank you,
@MyCloudBookkeeping
2 жыл бұрын
HI Mika, not sure how that could happen. If it is in the bank feed, it would have come from the bank. If you don't add it to your register then it won't impact your reconcililation. If you have added it to your register then perhaps look at where the other side is. Not sure I can help further with this one without looking at it. If you would like to book a working session you can do so here: calendly.com/kerry-11/one-hour-consultation-us. Hopefully those couple of tips will have helped!
@deenadanielle
4 жыл бұрын
Quickbooks is a godsend!
@MyCloudBookkeeping
4 жыл бұрын
I'm glad you think so! I love it too :)
@DhanaClarkson
4 жыл бұрын
Thanks for the information! I’m going to try Quickbooks and follow your steps 😊
@MyCloudBookkeeping
4 жыл бұрын
Thanks Dhana! Do let me know how you get on, and don't hesitate to reach out if I can be of assistance :)
@malone13
Жыл бұрын
How do you match a payment you receive from a merchant provider like Shopify or Worldpay when there's multiple invoices and a refund all combined together?
@MyCloudBookkeeping
Жыл бұрын
Any time there are refunds it is tricky! Try using a bank deposit to create the entry into the bank, and match to the deposit. If that doesn't work, feel free to schedule a time to look at with me. calendly.com/kerry-11/one-hour-consultation-us
@deidrarudd4321
4 жыл бұрын
Great Video. I receive on- spot payments at meetings. Cash and checks. I hand to treasurer who then deposits. We use essentials on line with a bank feed. I have record of all receipts and need to issue receipts to each payee. Checks and cash are grouped when deposited. How do I enter the checks and cash and then match with bank feed
@MyCloudBookkeeping
4 жыл бұрын
Hi Deidra, I would suggest using the undeposited funds account - that way you can record all of the on spot payments individually, and group them for a deposit to agree to the bank feed. Hope that helps!
@littlefrost1484
2 жыл бұрын
Can you help me with undeposited funds, they are coming in at the same time as an invoice through a POS, then the income is coming through the bank feed, so I need both, can I ignore undeposited? Hellppp please
@MyCloudBookkeeping
2 жыл бұрын
Hi, are you matching the income on the bank feed to the deposit recorded from the POS? If not, you could be doubling your income and making a bit of a mess! If you ignore undeposited funds your income will likely be too high - check out your balance sheet - is there a large balance sitting there? Also, look at your proft and loss statement, do the sales look correct? I do have another video about undeposited funds - check that out, it may help. If you have doubled up your sales I have a course that will help you clean them up - it's a bit of a job, but it can be done! Good luck! Let me know how you get on! Kerry
@mikev82
2 жыл бұрын
Wonderful video! I do have an issue though when matching deposits from a bank feed to invoices i have already sent out and received payments on. When I hit the "find match" radio button, a list of invoices does not appear. It says there are no matches. There is no list of invoices to choose from. I am stumped for sure! Any help you can provide would be great!
@MyCloudBookkeeping
2 жыл бұрын
Hi Mike, I am so sorry to take so long responding! I didn't get a notification about your message! If you have received payments on the invoice they won't show up - I would expect the payment to show up for you to match to. One way to be sure to match would be to receive the payment to undeposited funds. You then have to be super sure you are watching that you clear those! Hope that helps! Let me know if you have any further questions, and I will respond in a more timely manner!
@yacksumusha
Жыл бұрын
I am having the same exact issue. Were you able to find a solution for it?
@deanbaton3703
Жыл бұрын
Hi, good day! What I am currently doing before I match the deposit transactions in bank feed is: 1st step: I will create a "receive payment" first related to the invoice. 2nd step: Then after that I will also create a "bank deposit" related to the payment received. Then I will "match" the deposit transaction in bank feed to the "bank deposit" transaction that I created in step 2. Please advise if all is in order.
@MyCloudBookkeeping
Жыл бұрын
Hi Dean! If you have only one payment you should be able to match without creating the deposit. If you have multiple payments in the one deposit, then create a bank deposit and match to it. You could also select all of the "receive payments" and match to them. I hope that helps!
@evelynmccarter4259
4 жыл бұрын
I have a couple clients that I can't seem to match their deposits correctly. One shows, payment, invoice and deposit in the bank feed when a particular amount is there, and I don't know which to match the amounts to? I am assuming they have used the receive payments process, but then do I match it only when the bank feed says deposit? To clarify, deposit means they put the money in the bank account? The other client, has invoices, but no client names, and the deposits don't match to the information she has for these clients, and so I am never sure of where I match the deposit to? This is now a constant struggle every month, and I don't know how to handle this?
@MyCloudBookkeeping
4 жыл бұрын
HI Evelyn, perhaps some of the deposits have not been matched to the correct customer. Also, it is important to match to payments not invoices if a payment has been recorded. I do have a course on the bank feed if that is of interest to you: mycloudbookkeeping.podia.com/how-to-use-the-bank-feed-in-quickbooks-online? Also, you can book a working session and I can help directly. Good luck - once it is all working properly it is fantastic!
@Furtailz75
4 жыл бұрын
Thank you. How would I make partial payments to a sales receipt using part credit card and part cash for same client?
@MyCloudBookkeeping
4 жыл бұрын
Hi Casey-Ann - I don't think you can do that - it may be best to create an invoice, and process two separate payments against it.
@meeramra5236
3 жыл бұрын
Very useful video. Thank you for sharing.
@MyCloudBookkeeping
3 жыл бұрын
Thank you so much for letting me know Meera! Did you see that I also have free checklists and downloads? Scroll to the bottom of this page: www.mycloudbookkeeping.org/courses Hope they help also :) Cheers
@florak1087
4 жыл бұрын
Hi Kerry, great video! I would like to ask the stupid question in the room. I am coming back to accounting and trying to relearn QB but this time Online. My new client wants me to clean up his books from a year ago of starting his business. I have recorded the receipts, still have to go through the invoices (he did those), and am close to getting all his missing receipts so I can finish entering. My question is when I get to finally reconcile the bank and credit card statements does he have to download the statements to go into QBO or is there another way of matching? I can't find evidence of him doing this and he keeps telling me, "but I gave you all the statements". So the dump question is: where do I find if he has and do I really need it if I have the statement on hand. Hope that makes sense. Going to look at some more of your videos. Stay safe!
@MyCloudBookkeeping
4 жыл бұрын
Hi Florita, if you have already entered and reconciled everything there is no need to also match the transactions. If you enter them, you can then match to the bank feed before you reconcile. Once you have reconciled the items will not be available to match. Not a dumb question at all! Let me know if that is not clear :)
@florak1087
4 жыл бұрын
@@MyCloudBookkeeping Hi Kerry. Well, I figured out the reason I could not find the downloaded feeds is that I was watching the wrong QB's video. We have Online and I was looking for something that looked familiar on the desktop version. I just figured out IF he actually reconciled buy looking at the history by account and he has not. I am awaiting some receipts and info about some transactions because they are in the wrong accounts etc BUT I do want to know if I can start reconciling what I have and then save it if there is something missing and go back to it later?? Or will this mess me up? If you ever need a guinea pig on stupid questions, let me know. I am determined to learn this system! Thank you for responding.
@florak1087
4 жыл бұрын
@@MyCloudBookkeeping Hi Kerry, just to be clear. I don't think I have reconciled them as I did not do that option. (and I am just at that point in my Dummies book~ did not do the blue checkmark thingy) I just entered all the receipts into the categories of expense etc. I am waiting for more clarification on some of the expenses and to upload attachments of things that are done on a monthly pre-paid way and not entered into QBO. So, IF I want to go ahead, will I be able to save and move on to reconcile the missing info later, or do I have to wait for everything to be entered? Thanks again.
@MyCloudBookkeeping
4 жыл бұрын
@@florak1087 my course on all things bank feed may help you: mycloudbookkeeping.podia.com/how-to-use-the-bank-feed-in-quickbooks-online . It walks through te bank feed step by step all the way to reconciling.
@williamumansky6138
4 жыл бұрын
Great video! Thanks for sharing!
@MyCloudBookkeeping
4 жыл бұрын
Thanks for watching! I hope it helps :)
@noahlcastello4568
Жыл бұрын
what did you matched with it?
@MyCloudBookkeeping
Жыл бұрын
Which transaction are you asking about?
@Positive_Pulse29
Жыл бұрын
So what if a customer pays the total amount in partial payments. How do I match to one sales receipt?
@MyCloudBookkeeping
Жыл бұрын
You can't split the payments on a sales receipt. You would normaly only use a sales receipt if your customer pays you at the time of the sale. If they don't pay in full then prepare an invoice and apply the payments to that. Note that this video is about multiple payments matching to a bank deposit, not multiple payments on an invoice - that is a different video - check it out if you still have questions.
@Positive_Pulse29
Жыл бұрын
@@MyCloudBookkeeping okay thank you
@saintjohnservice1466
4 жыл бұрын
Thanks for the help. How can I record Tips (gratuity) from a customer, paid at same time of sales (POS)?
@MyCloudBookkeeping
4 жыл бұрын
YES! That's a new feature! I have a video coming shortly.... Check in the Accounts and Settings to turn this feature on, and watch for my video! Be sure to subscribe so you don't miss it :)
@saintjohnservice1466
4 жыл бұрын
@@MyCloudBookkeeping I have subscribed after watching. I'm pleased you will be covering this topic, I have set the bell 👍🏽
@MyCloudBookkeeping
4 жыл бұрын
@@saintjohnservice1466 Awesome! I received videos back from my editor this week, as soon as I get to them I will make the tips one the first one I post :)
@saintjohnservice1466
4 жыл бұрын
@@MyCloudBookkeeping Thanks Kerry, just watched it. Cheers
@MyCloudBookkeeping
4 жыл бұрын
@@saintjohnservice1466 Awesome - I was going to let you know - glad you had the bell on!
@uroospunyali8861
4 жыл бұрын
Thank you for the useful presentation. Mam, I have a question. There are several deposit transactions in a business daily basis. However, I record them each deposit transaction in the Quickbooks online individually. at the end of the day, the total amount of deposit for that day as well as I add post-dated old checks and make a deposit slip for the total amount to deposit in the bank. The bank shows the total deposit, not the individual. When I click on find deposit in QuickBooks, it shows only one deposit which is last deposit. It does not show all deposits in Quickbooks on that day. Please explain, how do I find out all deposits in Quickbook online to match with the bank. I highly appreciate it. Thanks.
@MyCloudBookkeeping
4 жыл бұрын
Hello Uroos, I am not sure what could be going wrong for you - are your entries in foreign currency? Sometimes foreign currency transactions don't match. If you are sure you have all of the entries in QuickBooks you can "exclude" the transaction in the bank feed. If you are going to do that, be sure to reconcile your accounts regularly. I do have a bank feed course that may help you: learn.mycloudbookkeeping.org/how-to-use-the-bank-feed-in-quickbooks-online Hope that helps!
@uroospunyali8861
4 жыл бұрын
No it is foreign currency transactions. It is wholesale business selling merchandise goods and its accruals base accounting. The customers make payment partially and give us post date checks. Which I enter in QB, but the check are not deposited in the bank on the same date of transactions. Therefore we always add the post dated checks for deposit with daily transactions
@uroospunyali8861
4 жыл бұрын
Those posted dated checks might be causing, but I don’t find any of deposits when I click on find match.
@MyCloudBookkeeping
4 жыл бұрын
@@uroospunyali8861 Without looking at your file I am not able to pinpoint exactly what is going on. If you would like to book a session to work on this I would love to help you : calendly.com/kerry-11/one-hour-consultation-us
@RachelSmets
4 жыл бұрын
Is this specific for US?
@MyCloudBookkeeping
4 жыл бұрын
HI Rachel - it holds true for all versions. This particular example is in the Canadian sample file - the only difference is the sales tax code! Let me know if I can assist :)
@noahlcastello4568
Жыл бұрын
Ok, what is the clue that leads me to believe that $8,760 belongs to that account and its part payment of that 15,000? to me that will be also guessing.
@MyCloudBookkeeping
Жыл бұрын
Hi Noah, if this is your business, and you are up to date with your bookkeeping you will know that these are the payments you recently received from your customers. Otherwise you will be looking at any reports or remittances you have in order to try to sort it out.
@Sharoys
4 жыл бұрын
I would like to deal with these duplicated transactions
@MyCloudBookkeeping
4 жыл бұрын
Hi Sharoy, I am offering some training on the bank feed next week, and will also have a course on how to fix them. If you register here I will make sure you get all the information: bit.ly/3eVS262 I hope to see you there!
@raetargos5494
4 жыл бұрын
Thank you!
@MyCloudBookkeeping
4 жыл бұрын
You're welcome Rae :)
@noahlcastello4568
Жыл бұрын
oh yes, the $8,760 that is part of the $15,000 I still don't see the clue that leads me to believe that it belongs to that account. Thanks
@paulbacchus9563
4 жыл бұрын
Skip to 1:39...
@kevywilliams3304
Жыл бұрын
It would be easier to comprehend for people if you skip the invoice … just get to the point where you’re wondering if you double entered .. which means .. teach us to look in there on a monthly basis !
@MyCloudBookkeeping
Жыл бұрын
perhaps you can do that in your video
@FLdb-wj4wc
4 жыл бұрын
I hate QB. I'm totally lost.
@MyCloudBookkeeping
4 жыл бұрын
Oh David, that is not great! If you would like some help you can book a time with me: calendly.com/kerry-11/free-introduction , I also have a course about the bank feed that may help you: mycloudbookkeeping.podia.com/how-to-use-the-bank-feed-in-quickbooks-online? If you get the bank feed working for you, you may not hate it as much! Good luck.
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