QB Issue Resolution:
A pledge(invoice) increases an Income account on the one side and increases Accounts Receivable on the other – it is not a bank transaction. A Receive Payment receives money into the bank account for a previously created Pledge, and reduces Accounts Receivable. You can combine these two actions into one with a “Sales Receipt”, which increases an Income account and puts the money directly in the bank, bypassing Accounts Receivable.
Note that if you have multiple receipts in one bank deposit, you should put the money into “Undeposited Funds” (instead of the Bank account), and then do a Bank Deposit from Undeposited Funds (which QBO tracks for you – in the top section of the Deposit form). This way the line items in the bank register will match the bank statement,making for easier reconciling.
Resolution for Issue 'What is the difference between using the receive payment function verses creating an invoice/pledge when you deposit a check? We are a nonprofit so invoices are labeled as pledges. We have our bank accounts synced to QBO so when we deposit a check it automatically shows up in our banking section of QBO.' available: Yes (Solved).
Source: Intuit Community forum.
What is the difference between using the receive payment function verses creating an invoice/pledge when you deposit a check? We are a nonprofit so invoices are labeled as pledges. We have our bank accounts synced to QBO so when we deposit a check it automatically shows up in our banking section of QBO.: 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 pledge
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for pledge [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: