Situation
Invoice from Customer A for $2000.00 Invoice from Customer B for $3000.00
Ran credit cards for Customers same day.
Merchant processor deposited $5000.00 into Bank Account.
$5000.00 Automatically downloaded into Bank Account in Quickbooks.
How do i divide the $5000.00 deposit between the two invoices?
Any assistance will be greatly appreciated. Thanks.
Receive payment Customer A 2,000.00 credit card Receive payment Customer B 3,000.00 credit card
If you have checked to use 'undeposited funds' the payments will be posted to that account. Then use the 'make deposits' screen to select the two payments and deposit into the operating account the $5,000.00
If I chose Customer / Receive Payment I can only choose one Customer. I need to do both transactions ( one for each customer) to get total of $5000.00 to match what is has been downloaded into Quickbooks.
You have to delete the deposit that was downloaded because it is wrong! then
deposit in undeposited funds must be checked for the above two transactions. [if the above steps were already done then skip - in which case you double received the payment which we fixed when you deleted the deposit]
Now the $5000.00 dollar deposit can be associated "matched" with the item downloaded from the bank. - Actually for this one maybe not as it won't be in the bank side anymore, but it will match your paper statement. BINGO you are balanaced.
In the future when you download a deposit of credit card funds, *DO NOT SELECT ADD TO REGISTER*, instead use the make deposits selection and pick the credit card items from the undeposited funds. This most likely means get your online merchant statement and look up the amounts that are in the deposit!
If you aren't following what you are doing is making a deposit slip for a set of "electronic checks" - the credit card payments - and putting them into your bank account when the payments settle from your card processor. Not unlike taking a stack of checks all from different customers into the bank except the checks are virtual.
transactions.
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