quickbooks checking

You don’t necessarily need to change any settings but rather adjust your workflow to ensure payments and deposits are recorded in a way that QuickBooks can easily reconcile, TBA3.

Duplicate deposits often occur in QuickBooks Online (QBO) when you manually enter a deposit. If QBO then imports that same deposit from your bank feed, it counts it a second time, leading to double entries.

QBO has an Auto Match feature that automatically applies online payments to the corresponding invoices. Once the related bank feed transactions are downloaded and cleared in QBO, the software matches them to the recorded payments, marks the invoices as paid, and reconciles the transactions, eliminating the need to create manual deposits.

For the most accurate and efficient results, avoid manually recording deposits. Instead, let QBO automatically download and match payments. This approach prevents duplicate entries and ensures your invoices correctly reflect their payment status.

You mentioned that QuickBooks shows deposits as lump sums. This is common with bank feed transactions because banks often combine multiple invoice payments into a single deposit. However, within QuickBooks, you can match one downloaded deposit to multiple individual payments or invoices, allowing for accurate reconciliation.

To see which deposits you have made versus what QBO has recorded, you can run the Deposit Detail report. This report lists all deposit transactions in QBO with detailed information to help you reconcile and identify each deposit more efficiently.

Here's how to run the report:

1. Go to the Reports section in QuickBooks.
2. Search for and open the Deposit Detail report.

Please don’t hesitate to reach out and notify us if you have any further questions or need additional assistance.