How do I change the deposit account on an order?

Introduction

By default, customers can deposit all payments or sales receipts into undeposited funds. You can deposit some orders into a credit card asset account and PayPal orders into a PayPal account. When you create a rule, use contains because the payment method you're matching can be case insensitive.

What is a deposit account?

When orders reach QB, they appear in a staging area. Merchant providers, like Amazon and PayPal, deposit funds they receive on a daily or bi-weekly interval. When the funds appear in your bank account, you must match the bulk deposit to the staging area orders. By default, orders appear on the QB home screen under bank deposits. To change the deposit account, you may change your settings or add a rule.

Default Account

You should create a catch-all account and we recommend undeposited funds. Here are the steps:

  1. On the configure page, scroll down to account settings.
  2. In the last drop down, choose an account.

Create Deposit Accounts

Here are the steps:

  1. In QuickBooks, go to lists > chart of accounts.
  2. On the bottom, click accounts > new.
  3. Select other account types > other current asset.
  4. Name the account.
  5. Click OK.

Split Deposit Rule

In this example, we will change the deposit account to PayPal. Here are the steps:

  1. Hover over the gear and click rules engine.
  2. Click the link to add a new rule.
  3. In the action field, choose map deposit account to sales receipts if you are creating sales receipts. If you are creating invoices and payments, select map deposit accounts to invoice payment deposit account.
  4. The field value and name fields should be identical.
  5. Enter these values: 
  6. Click submit.

More Rules

To map multiple payment methods to a single deposit account, follow these steps:

  1. On the rules page, click edit map from.
  2. Click add new rule.
  3. Select payment methods, matches, and enter the payment method.
  4. When you click submit, you'll see a grid similar to this one: 

 

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