QB Issue Resolution:

I appreciate you get back to this thread and provide more details about your concern today. I’d be happy to help walk you through recording the customer’s payment and the amount deposited to the bank.

 

First, you need to record the invoice payment ($3000) in order to reflect this amount in QuickBooks against the invoice. Let me guide you how:

  1. At the top right, select the Plus icon (+).
  2. Select Receive Payment.
  3. Choose the name of the customer from the drop-down menu.
  4. From the Outstanding Transactions section, select the invoice.
  5. Select your Payment method.
  6. Enter Reference no. and Memo if applicable.
  7. From the Deposit to drop-down, choose the Undeposited funds account.
  8. In the Amount received field, enter the payment amount ($3000).
  9. Select Save and Close.

Then, create expenses to show the subcontractors and vendor payments.

 

Here’s how:

  1. At the top right, select the Plus icon (+).
  2. Select Expense.
  3. In the Payee field, choose the vendor name.
  4. In the Payment account field, select Undeposited Funds.
  5. Enter the date of purchase in the Payment date field and specify the Payment method for the expense.
  6. (Optional) You can use Ref no. field to enter an identifying number from the purchase receipt.
  7. Specify the account or item to use for the transaction, and optionally enter a description of the expense.
  8. Enter the Amount paid.
  9. Select Save and new.

Follow the same steps for each contractor. Finally, make a deposit to show that only $1,600.00 was deposited into the bank.

 

Here’s how:

  1. At the top right, select the Plus icon (+).
  2. Select Bank Deposit.
  3. In the Choose an account field, select the bank account to which to deposit funds.
  4. Select the checkboxes of the payment ($3000) and all expenses you created to deposit in the Select the payments included in this deposit.
  5. Make sure the AMOUNT in the upper right corner is $1600.
  6. Select Save and close.

That should do it. I’ve attached some articles below for additional reference, as well as the QuickBooks Blog to check the updates about the product and latest features added in QBO.

That should take care of it. I believe that you’ll have the invoice payment applied to the invoice and deposit the correct amount to the bank by following these steps.

 

Keep me posted how it goes by leaving a reply below. I’ll be happy to help you out if you have any additional questions about the process. Wishing you and your business success.

Resolution for Issue 'If I received cash for a job and paid subcontractors with part of the cash (and therefore only made a partial deposit in the bank), how do I record these transactions?' available: Yes (Solved).
Source: Intuit Community forum.

If I received cash for a job and paid subcontractors with part of the cash (and therefore only made a partial deposit in the bank), how do I record these transactions?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Banking
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!

Error Recovery for Banking [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.

Get 50% off Quickbooks Online

Click Here for 50% off!

Additional Support Options: