Reconciling your settlements within QuickBooks or Xero should be pretty straight forward, however on some occasions it may need a little more work. This article will help you troubleshoot.
In the first instance, it may be worth checking you've received the deposit in your bank. Sometimes a failed bank feed may be the simple answer.
Once you've confirmed a deposit has been received, the next step would be to confirm that the settlement is available in Link My Books? If not, use this help article to check for missing settlements - Some of my settlements are missing.
Check Awaiting Invoices
Usually the corresponding transaction would show as a match and all you'd need to do is select Reconcile, however on occasion you may have to drill into the Awaiting Invoices and search for the settlement in question.
The Awaiting Invoice section can be accessed from your Xero dashboard.
From here you'll also be able to amend the date range you are searching for;
Some settlements are sent as bills, rather than invoices. This can happen if your Amazon fees and advertising costs are larger than your sales amount for example. We also have a help article for this instance - Why are some of my settlements being sent as bills instead of invoices to Xero?
The bills section can be accessed from your Xero dashboard.
Reconciled Incorrectly / Duplications
It's not unheard of that a settlement has been reconciled against a deposit incorrectly. You can check if this has happened by heading to Bank Statements in Xero and searching for the payment. If it has been reconciled incorrectly, you'll be able to Remove & Redo.
In QuickBooks, it would be bookkeeping > Transactions;
If you are still unsure, please get in touch with the team and we can take a closer look.
Incorrect Bank Account Assigned
It may also be worth checking that you have the correct bank account assigned within Link My Books if you are using QuickBooks. You can check this by heading to Accounts & Taxes > QuickBooks Bank Accounts;
If you have any questions about this article or feedback on how we could make it better please reach out to the support team via the blue chat icon on the bottom right of the page or via email to [email protected].