Connex can automate the tedious process of Deposit Matching in QuickBooks (the process of matching a list of QuickBooks order numbers to a deposit).
If you use Shopify, you can upload your payout spreadsheet into Connex.
If you use another integration, you can upload a spreadsheet.
Connex will perform the following:
- Locate matching sales
- Add fees
- Match the deposit.
Where is deposit matching located?
- On the navigation bar on the left, expand the Orders section.
- Click Match Deposits.
- Step through the wizard, and choose the connection you wish to perform deposit matching with.
How do I perform the matching?
- Enter the deposit date in which your payout exists. (Note: most bank deposits are transferred two business days after the sale ending date, but all businesses are different!)
- Click select payout and upload the spreadsheet.
- Choose your checking account which the funds are being deposited to.
- Choose a fee account which will document all fees accumulated by orders in the deposit.
- Click submit
- If you use Connex for QuickBooks Desktop, run the web connector.
What happens after I hit submit / run the Web Connector?
Connex will save these details to the database, and match the deposit in the background.
If your deposit did not match successfully, please check the Log on the left navigation bar. Some of the most common issues with deposit matching are:
- Adding new items to an old sale (customer came back and said I want to add product XYZ to an existing order. We recommend creating a new sale for best success)
- Some sales listed in the deposit had not been synced over, prior to running deposit matching process. These missing orders typically display in the log after the Web Connector runs.
How to fix:
- Document these missing orders in the Log
- Go to the Dashboard > Manual Sync
- sync these orders via comma separated list or by date range, and re-run the Deposit Matching Tool)