Overview
When you reconcile payments, You will want to transfer funds to the correct bank in QuickBooks. This will help you accurately track your company’s finances.
Who uses this feature
Administrators, office employees, managers, accountants, and bookkeepers
Applies to all business types
Applies to all trades
Feature configuration
Account configuration is required to use this feature. Please contact Technical Support for details.
Things to know
Payments export to QuickBooks:
By default, debit Undeposited Funds and credit Accounts Receivable.
If you are exporting as a journal entry, debit the account you specified and credit Accounts Receivable.
Move payments in QuickBooks:
Once the funds appear on your bank statement.
Once you have deposited the cash at the bank, the customer’s check has cleared, you have received the merchant’s funds for a credit payment, etc., this is when you should move these payments to the appropriate bank in QuickBooks.
Receive payments in QuickBooks
In the top menu, click Banking > Make Deposits. A window will open showing all undeposited payments received from ServiceTitan.
Select which payments you would like to transfer to your bank account.
Click OK.
A new window will now open with the payments you selected. At the top of the window you can:
Select which bank to deposit these payments to.
Set the date. This should reflect the date the payments were deposited to the bank.
Add a memo if necessary.
Click Save & Close.
The payments should now show in the bank you selected. You can view this in your Chart of Accounts.
FAQ
What if I need to un-deposit a fund from my bank?
If you would like to un-deposit funds from your bank:
Navigate to the deposit transaction in the relevant bank (in your Chart of Accounts).
Click into the transaction.
A new window will open. This window will list all of the payments you deposited during that transaction.
Right-click on one of the payments and press Delete Deposit. Please note that all the payments in that deposit will be un-deposited from the bank, not just the one you pressed Delete Deposit on.
Note: When you delete the deposit you will see a credit to the bank and a debit to Undeposited Funds.