Thanks for the video. Now i know exactly how to clear this issue up. If I may; When i receive payments against an invoice i don't see it reflected in qbpos but it's there in financial. I see cash in drawer as well as undeposited funds, which one should i use?
I did that error! and now i have items in the undeposited funds that were already received through the register and it is reconciled already. How do i fix the duplicates?
Actually left me confused. I have always worked off the home page and go to the "Receive Payment" icon and enter the payments that way which puts them into the "undeposited Funds". When I make a deposit I just go to the "Record Deposits". This seems to work fine and far simpler than what you showed in this video.
Sir you are a Legend in QuickBooks. You are my best tutor on QuickBooks because the daily challenges in the industry world you try every possible best to solve it. This video, am sure, will help a lot to remove pains from book keepers or accountants during reconciling because before now, they will be having imbalance figures. Thank you so much. On this video, it is an eye opener and it is left for every individual, firm/company to use undeposited fund account or deactivate it from the company preference and automatically have their funds get to their preferred bank account. I dove my hat for you sir!
Hi Matt, If we have a collection agency taking payments from multiple customers but depositing one amount into our account. How do we break it up when the deposit or the payment advice comes in?
Great video. Thank you. Very clear. I like that you have Quickbook Desktop tutorials. I have a question is there a way to remove Liabilities on the payroll page? I know everything is paid because our accounting company said so. I just need to not have these liabilities showing. Thank you
Thank you for these informative videos! We have a situation where liability checks are produced in the desktop payroll. This was never a problem until a garnishment was received. Because it is payable to the same state agency, the payroll taxes and the garnishment are combined into one check. This wouldn't be a problem except the state agency doesn't always pull the funds at the same time. Many times it overlaps between two months. When it comes time to do bank reconciliations, it creates a problem. I can't just create an outside check and move one of the amounts over after the fact because the system believes the taxes (or garnishment) wasn't paid. We remit funds ourselves to the state as we do not have full service QB. How can I create separate transactions after the fact and/or within the payroll itself? Thank you!
So if the QB user is getting Bank Feeds to the Checking account, this is a reversal of the assumption. Most small Business just have a merchant credit card account. Nobody with a small business has time for bookkeeping. So, if the Bank is posting daily or weekly group deposits and the deposits are posted to the "Undeposited" account, how does the deposit get offset by the correct payment/invoice amount? One could dig thru the Invoice detail and try to find the matching invoice amounts, or try to use QB link to the merchant account detail, but there wont be an invoice # there, just the date and dollar amount. Any thoughts?
@QbuniversityOrg Thank you so much for your reply! No, it just "all of a sudden" disappears. Obviously it has messed up the books pretty bad. I will try the audit report.
Thank you for your awesome tutorial, i'm having a bit of a problem when i'm making invoices, suddenly they are all being marked as PAID, specially when i attach an attachment to it, and i can't seem to avoid this. So, kindly, if you know how to stop the invoice from being marked as paid i'd be very grateful. If you need a screen shot i'd be more happy to show you. Thank you!
Hi, when I click “receive payments” icon on the home page, I entered the wrong amount to the “payment amount” field and then clicked “save & close”, then I click the “record deposits” to accept or record the wrong amount that I entered. Now the undeposited transaction went to the check register and showed the wrong amount that I entered. How do I fix it?
I have more than 400 customer deposits that have been entered just as payments (from a previous bookkeeper). These may sit open for 6 months waiting on parts before an invoice is produced to balance it off. Meanwhile the open invoice number is atrocious and it is all being recorded as assets. What would be the best way to correct this mess?
I have customers that sometimes receive a discount on their invoice if paid early. How do I accept the underpayment and "write off" the difference so the invoice shows as paid?
Hey I had a question. When I get my daily summary report and add the cheque # option for it to show the cheque number that the customer gave me it doesn’t show anything for me and leaves it blank even after adding the payment to the customer (received payments ) please help me 😅
How does this work with the bank feeds when importing transactions? Will they match? Should I ignore the deposit transactions since I've already entered them under "make deposit"? Thank you!
I have searched everywhere for the answer to this and have only come across other people asking the same question with no answers provided When receiving a customer payment quickbooks doubles the amount owing. Why and how do I fix this. Invoice shows zero balance owing but past due. Aaaaaah! I am so frustrated.
So I understand, you have an invoice that you receive a payment against and the software doubles the amount due from the customer? Does it do this when you are receiving the payment? Where does it show that it doubles it?
When I save it. I go back and see it has happened. I am trying to fix one from 2019 under another bookkeeper. Quickbooks support is zero help and never got back to me after I created a back up and all I was asked to send along.
www.qbuniversity.org/QBmasterclass - Feel free to leave a comment or question here!
Thanks for the video. Now i know exactly how to clear this issue up. If I may; When i receive payments against an invoice i don't see it reflected in qbpos but it's there in financial. I see cash in drawer as well as undeposited funds, which one should i use?
@@kemoysaddler4238 I’d go with what’s in QB
I did that error! and now i have items in the undeposited funds that were already received through the register and it is reconciled already. How do i fix the duplicates?
@@taxclient-t8t this video should show you how
ruclips.net/video/e0MRMrj3raI/видео.html
Actually left me confused. I have always worked off the home page and go to the "Receive Payment" icon and enter the payments that way which puts them into the "undeposited Funds". When I make a deposit I just go to the "Record Deposits". This seems to work fine and far simpler than what you showed in this video.
Yes you can do it that way too!
Sir you are a Legend in QuickBooks. You are my best tutor on QuickBooks because the daily challenges in the industry world you try every possible best to solve it. This video, am sure, will help a lot to remove pains from book keepers or accountants during reconciling because before now, they will be having imbalance figures. Thank you so much. On this video, it is an eye opener and it is left for every individual, firm/company to use undeposited fund account or deactivate it from the company preference and automatically have their funds get to their preferred bank account. I dove my hat for you sir!
Thank you!
With Bank Feed direct, the Deposit may come before, (or is consolidated with other Credit Card Transaction), the apply payments step.
Correct
Hi Matt,
If we have a collection agency taking payments from multiple customers but depositing one amount into our account. How do we break it up when the deposit or the payment advice comes in?
You’d have to get a report from them of who paid what so that you can apply it to the correct customers
thank you
You’re welcome!
Great video. Thank you. Very clear. I like that you have Quickbook Desktop tutorials. I have a question is there a way to remove Liabilities on the payroll page? I know everything is paid because our accounting company said so. I just need to not have these liabilities showing. Thank you
Thank you for these informative videos! We have a situation where liability checks are produced in the desktop payroll. This was never a problem until a garnishment was received. Because it is payable to the same state agency, the payroll taxes and the garnishment are combined into one check. This wouldn't be a problem except the state agency doesn't always pull the funds at the same time. Many times it overlaps between two months. When it comes time to do bank reconciliations, it creates a problem. I can't just create an outside check and move one of the amounts over after the fact because the system believes the taxes (or garnishment) wasn't paid. We remit funds ourselves to the state as we do not have full service QB. How can I create separate transactions after the fact and/or within the payroll itself? Thank you!
Can you just set up a separate payroll item for the garnishment along with its own liability account?
So if the QB user is getting Bank Feeds to the Checking account, this is a reversal of the assumption. Most small Business just have a merchant credit card account. Nobody with a small business has time for bookkeeping. So, if the Bank is posting daily or weekly group deposits and the deposits are posted to the "Undeposited" account, how does the deposit get offset by the correct payment/invoice amount? One could dig thru the Invoice detail and try to find the matching invoice amounts, or try to use QB link to the merchant account detail, but there wont be an invoice # there, just the date and dollar amount. Any thoughts?
I have a question concerning income, none of the payments or deposits are showing as income, how do I fix this?
Thanks in advance
If it’s an invoice check what account the Item points to. Also check if you are looking at cash or accrual reports
Have you ever heard of payments disappearing from invoices weeks to months after? I am at my wits end as to why this keeps happening.
No I have not. Is there another user doing it? Maybe look at the audit trail report
@QbuniversityOrg Thank you so much for your reply! No, it just "all of a sudden" disappears. Obviously it has messed up the books pretty bad. I will try the audit report.
Thank you for your awesome tutorial, i'm having a bit of a problem when i'm making invoices, suddenly they are all being marked as PAID, specially when i attach an attachment to it, and i can't seem to avoid this. So, kindly, if you know how to stop the invoice from being marked as paid i'd be very grateful. If you need a screen shot i'd be more happy to show you. Thank you!
Thank you again!
You’re welcome again!
Hi, when I click “receive payments” icon on the home page, I entered the wrong amount to the “payment amount” field and then clicked “save & close”, then I click the “record deposits” to accept or record the wrong amount that I entered. Now the undeposited transaction went to the check register and showed the wrong amount that I entered. How do I fix it?
You’ll have to delete the deposit and payment and go back and enter it correctly
I have more than 400 customer deposits that have been entered just as payments (from a previous bookkeeper). These may sit open for 6 months waiting on parts before an invoice is produced to balance it off. Meanwhile the open invoice number is atrocious and it is all being recorded as assets. What would be the best way to correct this mess?
I have customers that sometimes receive a discount on their invoice if paid early. How do I accept the underpayment and "write off" the difference so the invoice shows as paid?
Hey I had a question. When I get my daily summary report and add the cheque # option for it to show the cheque number that the customer gave me it doesn’t show anything for me and leaves it blank even after adding the payment to the customer (received payments ) please help me 😅
How do you then get the deposited funds to appear in "Materials Income" or other specific income accounts?
How does this work with the bank feeds when importing transactions? Will they match? Should I ignore the deposit transactions since I've already entered them under "make deposit"? Thank you!
For those, if they are already entered be sure to MATCH them in the bank feeds
@@QbuniversityOrg Thank you!
@@laurenjones9022 you’re welcome!
I have searched everywhere for the answer to this and have only come across other people asking the same question with no answers provided
When receiving a customer payment quickbooks doubles the amount owing. Why and how do I fix this. Invoice shows zero balance owing but past due. Aaaaaah! I am so frustrated.
So I understand, you have an invoice that you receive a payment against and the software doubles the amount due from the customer? Does it do this when you are receiving the payment? Where does it show that it doubles it?
When I save it. I go back and see it has happened. I am trying to fix one from 2019 under another bookkeeper. Quickbooks support is zero help and never got back to me after I created a back up and all I was asked to send along.
Could be a software issue. Have you rebuilt your data?
Yup. I searched online and others have asked on the quickbooks forum with generic non answers. I’m not alone
how to unapplied a credit that's linked to an invoice
Can I request money from an ACH Using QuickBooks !????
You can use the QB payments system and get paid via ACH but cannot do an ACH pull from QB that I am aware of
How on earth does someone actually do this ??
Do you mean how do they make this error?
@@QbuniversityOrg yeah scary to think this actually happens.
@@JI_453 you’d be surprised 😂
@@QbuniversityOrg 😬😬😬