I have deposited 3 checks in the bank. Two checks were payments towards invoices and one was a tax refund. My bank feeds display it as a single deposit. How do I categorize them in Zoho Books?
Multiple cash/check payments can easily be categorized as payments towards invoices, expenses etc. by matching the respective bank feeds.
- In the Banking module, select the bank in which the deposit was made.
- You will first have to record a deposit in your bank for an amount that is equal to the tax refund. Click on the Add Transaction button and select Other Deposit from the drop-down.
- Enter the amount that you have received as a tax refund and fill in the other details and click on Save.
- Clicking on the feed for the cheque deposit will display a list of possible transactions to which you can match your check payments.
- You can now select the two invoices and the deposit that you have manually added and match it with this feed.
- Once you click on the Match button, the status of the invoice will change to Paid.