How to Reconcile Cash Deposits from Journal Entries Made from R.O. Writer System with QuickBooks |

How to Reconcile Cash Deposits from Journal Entries Made from R.O. Writer System with QuickBooks

Published 05/28/2009 |

I need help reconciling my cash deposits on my bank statment, with journal enteries that have been made by my R.O. Writer System. The R.O. Writer System inputs the credit card deposits, but the amounts don't reflect the deposits.

I'm not familiar with R.O. Writer, but reconciling credit card deposits is a common problem. It's likely that your deposits are being done on a net basis (after fees are deducted) instead of gross.

If this is the case, check with your merchant account processor to see if you can be switched to gross deposits, so your bank deposits will match up to your credit card deposits. This will mean that your fees are deducted in a separate lump sum transaction.

I also highly recommend using QuickBooks for merchant services because it integrates perfectly with QuickBooks and eliminates this problem. I also couldn't live without QuickBooks Billing Solutions, which allows your customers to pay you online.

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Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman, CMA, CFE, CFM, MBA

Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.

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