reconciling deposits with invoices

larry.m

I downoload my transactions from BOA. With those transactions come the deposits from my customers. How do I assign those deposits to my invoices in my business section.

Greg_the_Geek

When you receive the check, you should go to your Customer Invoices account, click the gear in the upper right corner and select New Customer Payment. Enter the information and select your BoA account in Deposit to:. After you deposit the check and you download transactions, it check should match.

If you deposit multiple checks at one time, you need to create an intermediary account like Undeposited Business Checks. When you receive a check, create a New Customer Payment with the Deposit to: account as Undeposited Business Checks. Then when you make the actual deposit, create a transfer from Undeposited Business Checks to your BoA account.

Greg_the_Geek

Do you deposit each customer payment separately or do you group them together and make one deposit?

larry.m

I do my invioce. Then I send the invoice to my customer. Then I deposit the check into BOA when I get the check. So far the only thing I can think to do is accept a payment for the invoice and then go back and delete the deposit that got downloaded from the bank. It is beyond stupid for Q to not allow a way for you to assigne a deposit to an invoice to pay it.

larry.m

Also, sometimes my customer pays two invoices with one check....then I am really screwed as I have no way to delete the one deposit with out replacing it with two deposits which of course is not what really happened.....

Greg_the_Geek

When you receive the check, you should go to your Customer Invoices account, click the gear in the upper right corner and select New Customer Payment. Enter the information and select your BoA account in Deposit to:. After you deposit the check and you download transactions, it check should match.

If you deposit multiple checks at one time, you need to create an intermediary account like Undeposited Business Checks. When you receive a check, create a New Customer Payment with the Deposit to: account as Undeposited Business Checks. Then when you make the actual deposit, create a transfer from Undeposited Business Checks to your BoA account.

larry.m

Thanks for your help. It turns out that I can go back and pay them from the invoice page and it will recognize that the deposit is the one in the register and just correct it. Thanks again. I will what you said to avoid having to fix this afterward.