Payments and quickbooks

centraloregonafcentraloregonaf Member Posts: 1

Hi all,

I have an issue with Lightspeed and sync to Quickbooks. Light speed creates the sales receipt in "cash in Drawer" and it also is creating a journal entry in the same account seemingly breaking it down to credit and cash and transferring it into the "undeposited funds" account. Now this has created a problem.

In creating that journal entry in the "cash in Drawer" account when I create my deposit Quickbooks now creates my deposit entry but also a payment entry in the checking account register for the journal entry it created in "cash in Drawer" and they are linked so if you delete the payment it deletes the deposit. Some you can unlink but it still deletes them both. Now since I really didn't notice it right away the balance on my checking account is off. I really hope that makes sense and somebody has an answer, I spent an hour with QB Support and I could have gotten more insight banging my head on the wall.

Next issue:

  1. Since Lightspeed takes the fee out before it deposits the credit/debit card transactions (unlike most CC processors who deposit gross receipts and pull the fees the following month), QB shows the gross deposit and of course it don't match the bank feed and therefore creates a generic deposit to the checking account and doesn't clear the "undeposited funds" . What do I do to remedy that?

Any help will be appreciated.

Thanks!

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