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Subject :Quickbooks and Avimark - How to handle client payments.. 01-13-2012 12:24:30

fampetvet

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Joined: 07-30-2010 14:40:11
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I would love some help from someone who is familiar with how to use Avimark and Quickbooks together. I don't have a problem with setting up Avimark to import correctly, nor do I have a problem with actual importing the iff file. But, I don't understand how to handle the client payments in Quickbooks. I have things set up so that my client payments received on Avimark are imported into a bank type of account in QB called Undeposited Funds. When the deposits actually show up on my bank account, I then enter deposits individually and "remove" the $ from the Undeposited Funds account. This seems to work pretty well except I am a little out-of-balance at year-end and can't figure out why! When merchant card fees are deducted from my bank, I also remove those from the Undeposited Funds account. Not sure how I'm not balancing, but it always looks like at year-end that I made more money (just a little) than what actually got accounted for in my bank account.

I noticed that Avimark's downloadable file on QB interface suggests just importing client payments directly into the actual checking account. But, I am not sure how that can be accurate. The actual deposits do not usually match payments. For instance, some cash may get kept in cash crawer, some merchant accounts actual deposits are less their merchant fees, etc. So, I don't know how to handle these inaccurate deposit amounts if they actually are put directly into my checking account. I'm afraid balancing with the bank would become a nightmare. How are others handling this issue? Thanks!

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