Question

Identifying QB invoice credit card payments on the bank statements in order to reconcile the bank statement

Forum|Forum|2 years ago
January 1, 2024
1 reply
17 views

I am using Quick Books Desktop and I want to use the feature that lets my customer pay by credit card. The process works well by matching the payment in Quickbooks. My problem is when the funds are deposited in to our bank account (Wells Fargo) there is no way to identify the customer or the invoice number.

Our customers are all companies. QB shows the name of the owner of the credit card but not the name of the company. This is furthur compounded because we invoice each customer for the same monthly amount.

I spendt an hour on the phone with QB Desktop and QB Payments and they tell me this is the best they can do. So I have deposits on my bank statement with no way to identify the customer who made the payment or what invoice they are paying. All I know is that Sally paid 400.00. I havn't a clue who Sally works for or what she is paying.

If anyone has a solution, please let me know or in the event there isn't one, what product can perform this pretty basic function.

thanks

Frank

S

Shania_C

QuickBooks Team

Hi there, @FrankB1.

I understand how this can disrupt your workflow and cause inconvenience. Rest assured, I'm here to provide valuable insights and guide you to the proper information.

Just a recap, your concern is the name of the person will shown in the credit card payment transaction, then the problem is the company name is shown as the name for each client you listed in QuickBooks Desktop.

The thing is you have to make sure that you match the credit card transaction, the best way to do this is to ask Sally what company she belongs to and manually match the transaction to the specific company invoice. This is the best decision we could make. Then for us to manually match specific Credit Card payments to invoices, at least choose the closest amount and date of the transactions to match the invoice.

Moreover, I'll be sharing this article to help you learn how to create rules to help QuickBooks match your Bank Feeds transactions: Create rules to categorize transactions in QuickBooks Desktop

If you have any more questions or need further assistance regarding identifying QB invoice credit card payments on the bank statements in order to reconcile the bank statement, please feel free to reach out. The Community is here 24/7. Keep Safe!

F

FrankB1Author

Shaniamarie: Thanks for the fast reply but I don't think you understand the issue. When we download the credit card transaction it only shows the cardholder's name and the date and amount. NO company name or invoice number. The bank statement only shows the date and the amount. How do I call Sally and ask her what company she works for when I don't have a phone number or company name?

From your response and the phone calls I have made to support, it appears that this is a shortcomming in Quickbooks. I would prefer responses from an actual user that has come up with a solution.

Are there any 3 party vendors that I could use instead of Quickbooks Payments?

Frank

MariaSoledadG

QuickBooks Team

I understand how important it is to identify deposits of your customer payments, Frank.

One of the benefits of using QuickBooks is the flexibility to integrate extra features based on a company's unique needs using third-party applications. You can check out if there are alternative applications that you can use that work well with QuickBooks Desktop aside from QuickBooks Payments. Use this link to search for one: QuickBooks Desktop App Center.

However, I have a few reminders that I want to elaborate on why you'll have to use QuickBooks Payments. This allows you to streamline your accounts receivable processing by immediately matching invoices with payments without signing into a contract or paying monthly fees. Aside from that, it also gives you choices on payment for transactions.

On the other, I would suggest sending feedback to let our product team know how this feature is helpful for your business. To send a request, follow the steps provided below:

Go to the Help menu.
Select Send Feedback Online, then Product Suggestion.
Enter your suggestion.

Furthermore, QuickBooks offers different reports that you can use so you'll be able to get the right information after you reconcile your accounts. You'll just have to make sure to customize them to get the data you need most. I've added this article for more details: Customize Reports In QuickBooks Desktop.

You can always let me know if you have any other questions about your bank transactions or categorizing them in banking . The Community is always here to help you.

Sign up

Login with SSO

Let's get you signed in

Login with SSO