Resolve Difference on Bank Deposit in QuickBooks Online

[@DGTCommunications]

Thanks VERY MUCH!!!! My bookkeeping service couldn't solve this... All I had to do was change the amount to the amount paid, instead of leaving it as the amount received. I already knew I had to resolve the difference, but it wasn't working because I was resolving the wrong direction.

[@MyCloudBookkeeping]

Delighted I could help! Thanks so much for letting me know :)

[@corinnemckay7438]

Thank you SO much!! Even my accountant was unaware how to do this, and I have several international clients who deduct bank fees from my payments, or sometimes there's a weird "ghost" charge on an international transaction. This was driving me crazy and you solved it!!

[@MyCloudBookkeeping]

Hi Corinne - thank you so much for letting me know!! I am delighted I could help :)

[@hellenmartinez6502]

You, my fair lady, are AMAZING! I called QB to solve the issue, and the rep was asking me to change the original amount on the invoice (what?). I saw your video, and voilà! Done in two secs. You are the best! Thank you so much!!!

[@MyCloudBookkeeping]

Thank you Hellen!!! You made my day :)

[@samblack9291]

THANK YOU SO MUCH!!!!!! The problem was resolved in 20 seconds!! I have called Quickbooks and was on the phone for 40 min and they still could not help me with this. Excellent explanation!!!

[@MyCloudBookkeeping]

Delighted to hear it!

[@f2fproduction]

Thank you so much! Easy to follow and the guidance made everything click!

[@MyCloudBookkeeping]

Delighted to help!

[@galesaunders4120]

thank you, thank you, thank you, my problem resolved in an instant

[@MyCloudBookkeeping]

Thank you Gale - I am delighted to hear :)

[@kaynolan]

You saved me!!! Thank you lol

[@MyCloudBookkeeping]

Delighted to hear it! Thanks for letting me know :)

[@wendygardner9735]

Does the resolve amount show up against the customer ? or if you go into your TB have the details of where that bank charge comes from ? Currently we don't use resolve, we create a credit note under the customer for bank charges, so we know which customers we aren't receiving the full amount for, but this is time consuming, so wondered if this may be a better option for us.

[@MyCloudBookkeeping]

Hi Wendy, you have the option to add the customer name to the "resolve" line. Test it, and see if you are able to see the information in your customer window. Another (less desirable otion) is to revise the invoice/sales receipt to include the fee - I only use this option on recurring receipts that the customer does not see, otherwise it is a bit confusing to them. Let me know how this works out for you! K

[@mayaheintzman4167]

QBO is not allowing the negative allocation in the "resolve" section as of today (Oct 31, 2022)?? Did they change something here ? QBO saying: "Something’s not quite right An unexpected failure occurred."

[@MyCloudBookkeeping]

OMG! That's horrible - I haven't seen that - best advice I have is to log out, make a cup of tea, and come back and try again. If that doesn't work - try again tomorrow! Please do update me.

[@mayaheintzman4167]

@@MyCloudBookkeeping it no longer works from the bank feeds. We must record a deposit to allocate the fee's and then we can "match" on the bank feed .. sucks

[@MyCloudBookkeeping]

@@mayaheintzman4167 that totally sucks - I was doing it yesterday with a client and had no difficulty. I'll check it again. Thanks for the heads up!

[@premiumquenas4392]

what if the deposit is more than the invoice? How do i resolve the difference?

[@MyCloudBookkeeping]

HI! You would add the amount to an income account, instead of deducting it from the invoice amount.

[@Jenmcdonald41]

What about petty cash? We get paid in cash more often than not and that cash is deposited into a bank issued safe. Sometimes the safe will not accept bills and that cash in then put into petty cash. I've been adding it to the petty cash option, but as a negative its deducting from our petty cash fund not adding. How do I correct this? Thank you so much for your time.

[@MyCloudBookkeeping]

Hi Jen, I would need to walk through this with you - if you are accepting the full amount putting the difference to petty cash would work in theory. Let me know if you would like to book a session to go over. calendly.com/kerry-11/one-hour-consultation-us cheers

[@lisandradomingues6754]

Can we do this to identify a refund in the middle of two deposits (the three amounts were recorded as a single deposit in QB banking)? I recorded the Refund Receipt on the customer's Invoice, but I couldn't find a way to match these two deposits, because the total deducted the refund amount. We work with a Verifone credit card machine, linked to our bank account, and the refund was made through it.

[@MyCloudBookkeeping]

Hi Lisandra, refunds are tricky. If you have recorded all of the transactions it may just be easier to exclude the deposit amount and ensure that the three entries you have recorded total the deposit. Hope that makes sense!