Afterpay, Authorize.Net, BigCommerce, Bluefin, Braintree, Clover, Ecwid, Faire, LawPay (AffiniPay), Magento, Walmart, Wix, Klarna<\/strong>.<\/li>\n<\/ul>\n\n\n\n<\/p>\n\n\n\n
Do not<\/strong> use this guide if:<\/p>\n\n\n\n\nYour integration supports automatic payouts<\/strong> <\/li>\n\n\n\nYou\u2019re troubleshooting <\/strong>a difference inbalances<\/li>\n<\/ul>\n\n\n\nAfter completing this process:<\/p>\n\n\n\n
\nYour Clearing account balance will decrease<\/strong> <\/strong><\/li>\n\n\n\nYour Checking account reflects the transferred funds<\/strong> <\/strong><\/li>\n\n\n\nYour bank reconciliation difference becomes $0.00<\/strong> <\/strong><\/li>\n<\/ul>\n\n\n\nQuickBooks Online<\/strong><\/h2>\n\n\n\nYou can account for transfers using one of the following methods:<\/p>\n\n\n\n
\nIf the deposit description contains <\/strong>your platform name, create a bank rule.<\/li>\n\n\n\nIf the description does NOT contain<\/strong> your platform name, record the transfer manually.<\/li>\n<\/ol>\n\n\n\nOption 1: Create a bank rule<\/strong><\/h3>\n\n\n\n\nGo to Transactions \u2192 Rules<\/strong>. <\/li>\n\n\n\nClick New rule<\/strong>.<\/li>\n<\/ol>\n\n\n\n <\/figure>\n\n\n\n\nName the rule after your integration. <\/li>\n\n\n\n Apply to: Money in<\/strong> and select the bank account receiving deposits. <\/li>\n\n\n\nSet condition: Description \u2192 contains \u2192 [Platform name]<\/strong>. <\/li>\n\n\n\nIn Transaction type, select Transfer<\/strong>. In the account section, choose your integration\u2019s Clearing account<\/strong>. <\/li>\n\n\n\nClick Save<\/strong>.<\/li>\n<\/ol>\n\n\n\n <\/figure>\n\n\n\nFuture deposits that meet this condition will trigger a transfer of the same amount from the integrations clearing account.<\/p>\n\n\n\n
Option 2: Record the transfer manually<\/strong><\/h3>\n\n\n\n\nOpen the deposit for review<\/strong>. <\/li>\n\n\n\nSelect Record as transfer<\/strong>. <\/li>\n\n\n\nIn the \u201cTransferred from\u201d field, choose your integration\u2019s Clearing account<\/strong>. <\/li>\n\n\n\nClick Add<\/strong>.<\/li>\n<\/ol>\n\n\n\n <\/figure>\n\n\n\n<\/p>\n\n\n\n
QuickBooks Desktop<\/strong><\/h2>\n\n\n\nIn reconciling in QuickBooks Desktop, you would need to create a manual transfer of funds from the Clearing account to the Checking account, and do the matching afterward. <\/p>\n\n\n\n
I.<\/strong> Create a manual transfer<\/strong><\/p>\n\n\n\n\nGo to the Banking<\/em> menu and select Transfer Funds<\/em>.<\/li>\n\n\n\nIn the TRANSFER FUNDS FROM<\/em> field, select your integration\u2019s Clearing account.<\/li>\n\n\n\nIn the TRANSFER FUNDS TO<\/em> field, select the Checking account.<\/li>\n\n\n\nEnter the amount and click either Save & Close<\/em> or Save & New<\/em>.<\/li>\n<\/ol>\n\n\n\n<\/div><\/div>
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II. Match the transfer with the bank statement<\/strong><\/p>\n\n\n\n\nNavigate to the Banking <\/em>menu, go to Bank Feeds<\/em> and select <\/em><\/strong>Bank Feeds Center<\/em>.<\/strong><\/li>\n\n\n\nIn the Bank Feeds Center<\/em>, click on the Transaction List<\/em> to view your bank transactions.<\/li>\n\n\n\nLook for the manual transfer in the list of transactions. QuickBooks should automatically match<\/strong> it with the corresponding deposit in your bank feed.\u00a0<\/li>\n\n\n\nOnce the transfer is matched with the deposit, click on Approve <\/em>to confirm the match.<\/li>\n<\/ol>\n\n\n\n<\/div><\/div>
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III. Start reconciliation<\/strong><\/p>\n\n\n\n\nNavigate to the Banking <\/em>menu and select Reconcile<\/em>.<\/li>\n\n\n\nChoose the bank account you want to reconcile and click Continue<\/em>.<\/li>\n\n\n\nEnter the statement ending balance<\/strong> and date<\/strong> from your bank statement, then click Continue<\/em>.\u00a0<\/li>\n\n\n\nLocate the deposit from your integration in the list and check it off. This should correspond to the deposit on your bank statement.\u00a0<\/li>\n\n\n\n If there are any discrepancies, verify the amount and date of the transfer against your bank statement and correct any errors.\u00a0<\/li>\n\n\n\n Once all the transactions match and the difference is zero, click Reconcile Now<\/em> to complete the reconciliation.<\/li>\n<\/ol>\n\n\n\n<\/div><\/div>
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Xero<\/strong><\/h2>\n\n\n\nStep 1: Open the bank transaction<\/strong><\/h3>\n\n\n\n\nGo to Accounting \u2192 Bank accounts<\/strong>. <\/li>\n\n\n\nOpen your Checking account. <\/li>\n\n\n\n Find the deposit to reconcile. <\/li>\n<\/ol>\n\n\n\nStep 2: Record as transfer<\/strong><\/h3>\n\n\n\n\nSelect the Transfer<\/strong> tab. <\/li>\n\n\n\nChoose your integration\u2019s Clearing account<\/strong>. <\/li>\n\n\n\nConfirm the amount. <\/li>\n\n\n\n Click OK<\/strong>.<\/li>\n<\/ol>\n\n\n\nRepeat the process for each deposit.<\/p>\n\n\n\n <\/figure>\n\n\n\n<\/p>\n\n\n\n
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Address common mistakes<\/strong><\/h2>\n\n\n\n1. Clearing account keeps growing<\/strong><\/p>\n\n\n\n