how do I link multiply transactions to a grouped payment from bank data
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PTLS Admin
Member Posts: 5 ✭
Hi I'm trying to link a group payment transaction from my bank data feed with multiply payments in my fle. Is there an easier way to do this?
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Yes - use another bank account - I call them Online Suspense accounts - do your Pay Bills entry to this account - create your ABA file with this account (ie put the online bank details into this bank account) - then process as normal - then do a single Write cheque from your actual bank account in Reckon for the total of the ABA file - and enter this to the Online Suspense account - this account should always have a zero balance after this process - so its easy to see if you have made any errors - and when doing your normal Bank Rec - you are then able to just tick the single amount that matches your bank statement.0
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Hi PTLS
More information required.
Paying bills via ABA - use electronic clearing account (as Linda Described)
Paying payroll via ABA - use Electronic Payroll account
Receiving a payment in the bank data feed covering multiple invoices - this can be either undeposited funds or making customers sub-accounts/jobs of a main customer, more info required
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thank you everyone for your prompt responses. I am very new to quickbooks and following what I've been taught.
the payment i'm trying to sort out at the moment is a payroll payment that I send to the the 'Online Banking Centre' from there I click "create ABA File' and upload the file to our online banking account. I do the same for supplier payments too.
Is there a better way of doing all this?
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No you are doing it right, but you need clearing accounts, when you create the payslips they should be going to a bank account called "Electronic Payroll", when you create the ABA (lump sum for all wages) it comes out of your bank and is posted to the "electronic Payroll" account at the same time.
You can then come back at the end of the month and reconcile the Electronic Payroll account back to 0.00 as you will have individual payslips coming in and a lump sum going out which should reconcile.
Paying bills via ABA set up "electronic clearing " pay your bills off to the electronic clearing (not your bank), when you do the ABA file it comes out of your bank and goes to the Electronic clearing, again you can reconcile this back to 0.002 -
Thank you I will give that ago0
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I use the bank account that I call Online Suspense (or you can call it Electronic Clearing/Payroll) for both payroll and creditor ABA files - because in the past I have sometimes had trouble having 2 different suspense accounts with the same online banking details in them... so its easier to just use one account.1
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Thank you that's what i thought i would do.0
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