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valentineheatingandair
Level 2

Bank deposits split into multiple invoices...now won't reconcile.

Hello, 

 

When we deposit checks into the bank, we deposit multiple checks at one time. When I go to match the bank transaction to open invoices, I have to split them into the various invoices. However, when I go to reconcile the account, I see 3 entries in the bank register: 

 

One credit for the original deposit amount (lets say $3460)

Below that is a credit for $3000 (for Customer A)

Below that is a third credit for $640 (Customer B 

 

How can I avoid this from happening? It's impossible to reconcile with this problem! 

 

Thank you! 

Solved
Best answer February 28, 2019

Best Answers
Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

Just to make sure you know, the end results should be: 

Debit - Cash

Credit - Revenue

-----------------------------------------------------------------------------------------------------------------------------

Another common setup, when you create invoices in QB, your setup may do these entries:

Debit - AR 

Credit - Revenue

 

Then when you receive payment, the system should make these entries for you:

Debit - Cash

Credit - AR

----------------------------------------------------------------------------------------------------------------------------------

 

 

View solution in original post

11 Comments 11
Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

Suggest look at report called General Ledger (which shows detail of all account transactions).

Look at the Cash account (QB calls Bank), and it is usually first account shown on this report.    Check to see if amount is actually counted twice in total or if it just looks that way on screen. 

valentineheatingandair
Level 2

Bank deposits split into multiple invoices...now won't reconcile.

Thanks for your reply. I've attached an image. The general ledger does show 3 credits to the account. One is the deposit, and the other two credits show as payments (to the invoices that the original deposit is for)

Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

That is definitely not good, so you will need to delete one of them. Looks like you may have added vs. matching payment to open invoice.  I would remove both and go back to bank feeds to match. 

valentineheatingandair
Level 2

Bank deposits split into multiple invoices...now won't reconcile.

Thank you. I unmatched both payments and went back to the bank feed. I found the transaction and clicked Find Match. 

 

I saved it, and went back to the general ledger to see if it worked. It did!!!! I double checked in the reconcile page and it worked!!! Thank you!!!! 

 

valentineheatingandair
Level 2

Bank deposits split into multiple invoices...now won't reconcile.

Hi Teri. All looked well and perfect in my reconciliation. Then I went back to my inmvoice page and all of the involved invoices are now marked as unpaid! Why aren't they attached?

Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

Logging into my QBO to look.  Have never had a problem with posting invoice payments.

Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

First thought is look in AR account to confirm that is where invoice entry was posted since we see payment went there, which is normal

Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

Make sure everything matches between invoice and payment, like dates, customer name, account, amounts invoiced, etc.   It is easy to click 2018 vs. 2019 this time of year.

Teri
Level 9

Bank deposits split into multiple invoices...now won't reconcile.

Just to make sure you know, the end results should be: 

Debit - Cash

Credit - Revenue

-----------------------------------------------------------------------------------------------------------------------------

Another common setup, when you create invoices in QB, your setup may do these entries:

Debit - AR 

Credit - Revenue

 

Then when you receive payment, the system should make these entries for you:

Debit - Cash

Credit - AR

----------------------------------------------------------------------------------------------------------------------------------

 

 

StoneCo
Level 1

Bank deposits split into multiple invoices...now won't reconcile.

I'm having this exact same issue. It doesn't look like this was resolved? 

IamjuViel
QuickBooks Team

Bank deposits split into multiple invoices...now won't reconcile.

You've come to the right place, @StoneCo.

 

When recording customer's payment via the bank deposit window it will not be applied directly to the open invoice. You'll have to enter the customers' payment via the Receive Payment screen and match it with the deposit transaction. By doing so, you'll avoid getting duplicate records and ensure your transactions are matched accurately.

 

To resolve your concern, let's generate the reports mentioned by @Teri to verify how many times the transactions were counted. Once checked, delete or unmatched the transactions that caused the duplicate records.

 

To record your bank deposits in QuickBooks, you can refer to this short video clip:

Once completed, let's make sure that payments are recorded and applied to the invoice properly.  

Lastly, you can now match the customer's payments with the deposited transactions.

For more insights about managing your transactions, you can refer to these articles:

Always feel free to visit us here in the Community if you have other questions. I'm just a few posts away.

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