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Clearing multiple invoices after a single grouped deposit

Anyone,

I currently am running Quicken 2019 Home and Business. I have created a company in which I have issued invoices to several customers. The customers use a single government source for payment.  However, the payment auto-deposit often times comes grouped together.  How do I credit the invoices of several customers as paid and still match the different invoices to a single deposit.  It won't recognize the amount. 

Deposits that are paid on behalf of a single customer are easily matched because of matching amounts and payment dates.


IE: 

Invoice: John Smith                 $100.00    January 10
Invoice: Bob Jones                  $75.00      Feb 3

Deposit:  State Gov't.               $175.00    March 2

Thank you

Best Answer

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Quicken isn't designed to let you match one payment to multiple customers. It would be easier to match one payment of one customer to multiple invoices of same customer using the New Customer Payment dialog in the Customer Invoices account register.

    The text below discusses how to record multiple payments received from multiple customers while only making one summary deposit transaction at the bank. You may be able to use that as a workaround.

    Intermediate deposit account for H&B,RPM (a.k.a. "Suspense Account"):

    When you receive multiple payments by check per day but only make one summary deposit to your bank ...

    - Create a cash (or manual checking [*]) account, named something like "Checks to Deposit" with an Opening Balance of $0.00

    - When filling out the New Customer Payment form, deposit the check to "Checks to Deposit" instead of your regular bank checking account.

    - At the end of the day, tally up all checks on your deposit slip. In Quicken, in the "Checks to Deposit" account make a transfer transaction "Daily Deposits" in the amount of your deposit slip. Put the amount into the Payment column. As category choose your checking account, surrounded by [square brackets], e.g. [ABC Bank Checking]. Verify that this reduces the balance in the "Checks to Deposit" account back to zero (or you have made a mistake somewhere along the way).

    [*] During the Add Account dialog, choose a checking account and, on the next screen, click on the words "Advanced Setup" then finally choose "I want to enter transactions manually".


  • Thanks. I tried the cash account and it will be fine for any checks I personnaly. Or I simply make seperate deposits. 

    The frustration is the electronic deposits from a joint payee on behalf of my customers. They insist on commingling customers. With your suggestion I can at least clear the invoices as paid, however, I can't remove the amount from my net worth, it doubles the deposits in total. 

    I'd be happy to just list them as paid and park them in a separate and unaccounted location.

    Any idea how to mark that account as separate and uncounted on my bottom line of all accounts?

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