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Match credit card payments to bank deposits (Merchant Service)

With a QuickBooks merchant account, you can see at a glance the activity between your merchant account and your bank account. You can also easily match your credit card transactions and fees with the lump sum deposits that appear on your bank statement.

Important info for American Express OnePoint merchants

Merchants who process credit cards under the American Express OnePoint program get better rates, more accurate funding data, and easier reconciliation. Please note the following changes and tips:

  • You should use the Make Merchant Service Deposits workflow to reconcile your credit card transactions. American Express and bankcard transactions will appear in a single batch, making it easier to match the deposits on your bank statement.

  • The older Make Deposits workflow will also work correctly (American Express and bankcard transactions will also appear in a single batch), so if you are more comfortable using this feature, you can still reconcile your credit card transactions correctly. But the newer Make Merchant Service Deposits feature has an updated interface and shows deposits and fees on a single window to make reconciliation easier.

  • Fees are always deducted using the gross fees method (fees are deducted in separate withdrawals). You cannot change this.

  • For easy reconciliation, all deposits and fees (discount and adjustments) for American Express transactions will appear on the Deposits and Fees tab, and will appear with MasterCard/Visa transactions.

To do this task

  1. Go to the Home page, then click the Merchant Service Deposits icon.

  2. Click a tab or link to perform a task.

    Tip (lightbulb)If you have questions as you work, click the text links on the screens for answers to common questions or for more detailed information.

Deposits and Fees tab

See what deposits have been deposited to or fees withdrawn from your bank account and are ready to be recorded to the appropriate QuickBooks account.

The top half of the screen show funded payments that are ready to be recorded in your QuickBooks accounts. The bottom half of the screen shows fees that have been withdraw from your bank account and are ready to be recorded to your QuickBooks account.

Pending Payments tab

See credit card transactions you have processed but have not yet been funded (deposited) to your bank account. As a result, they cannot be recorded to your QuickBooks accounts yet. Once funded, you can find these payments by clicking the Deposits and Fees tab.
  • You can change the sort order of any column in the Deposits & Fees table by clicking a column header.

  • To see additional detail for a transaction, click the transaction number in the Details column.

Problems to be resolved tab

Click this tab to see which deposits to your bank account cannot be recorded to QuickBooks because they have no matching payment record in QuickBooks.

Payments may be withheld from deposit to your bank account for various reasons. For example, if a payment is suspicious or fraud is suspected, Intuit Merchant Services will withhold that payment (and all other payments in the same deposit) until the situation is resolved. Typically, it takes 4 to 7 business days to clear a suspect payment. Usually, you will be notified directly when this happens. If you have not been notified of such an issue, please contact customer support for assistance.

Deposits made to your bank account that contain transactions without a matching payment in QuickBooks cannot be recorded. To resolve this, first try the Get Online Payments feature to update QuickBooks and your Undeposited Funds account with the latest merchant account activity. If this does not solve the problem, you will have to manually create a matching payment record in QuickBooks for each missing transaction.

Change accounts for recording payments and fees

Your deposits and fees are recorded in the QuickBooks accounts you specified in the Deposits & Fees Account Settings page. To specify a different account for deposits or fees, do the following:

  1. Click the Open account settings link at the top of the window.

  2. To change the account for deposits, click the Record bank deposits in: drop-down and select an account from the list.

  3. To change the account for recording fees, click the Assign fees to expense account: drop-down and select an account from the list.

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