QuickBooks, matched at the bank.
Invoices, payments and deposits matched to what your bank received, GST and HST included.
What comes in from QuickBooks
- Invoices
Customer, invoice number, amount with GST/HST, due date and what is still owed.
- Payments received
Each payment applied to its invoices, waiting in Payments to deposit or already deposited.
- Deposits
The deposits you record, grouping payments the way you believe the bank received them.
Why it won’t match on its own
Payments wait to be grouped
Payments sit in Payments to deposit until someone groups them, and the grouping rarely matches the bank’s.
e-Transfers skip the invoice
A customer pays by e-Transfer and the bank line says only who sent it.
Processors pay net
A Moneris or Stripe deposit is short of its invoices by fees nobody has booked yet.
One rule, in plain words
Match QuickBooks payments to RBC deposits when a day’s payments add up to one deposit.
sum of payments = deposit, same day1,420 matched
When the sum comes up short, the difference stays on the match as the fee or partial payment it is. Nothing is forced to zero.
What Numerics works out
Only invoices matched to money at the bank are counted, so the tax figure follows the cash you received.
You go run your business.
Bring a month of QuickBooks records to the call. You’ll see them matched before it ends.