If you choose to take an instant payout or early withdrawal from Walmart, the amount of that withdrawal is included within your Link My Books summary settlement entry for the relevant period.
Why Direct Matching Doesn't Happen
When these early withdrawal funds actually land in your bank account, they won't automatically match to a dedicated entry from Link My Books. This is because Walmart typically consolidates these early withdrawal transactions as a line item within the next regular payout that Link My Books processes, rather than as a separate disbursement.
How to Account for Early Withdrawals in Your Accounting Software
To correctly reconcile these specific bank deposits, you will need to manually assign them in your accounting software (Xero/QuickBooks).
Manual Allocation Steps:
You will need to manually allocate the bank deposit for early withdrawals to your designated Walmart Reserved Balances account.
Example Scenario & Explanation:
Let's consider an example: If your early withdrawal amount was displayed as -$1,600 in your Link My Books settlement summary, and you receive a separate bank deposit of $1,600 for this early withdrawal into your bank account:
In your accounting software's bank reconciliation, locate the $1,600 bank deposit from Walmart (for the early withdrawal).
Manually allocate this $1,600 bank deposit to your Walmart Reserved Balances account.
Why this works:
Within the Link My Books summary for the settlement period, the early withdrawal is reflected as a negative amount (-$1,600), reducing the overall payout and flowing to your Walmart Reserved Balances account.
By manually allocating the separate bank deposit (the +$1,600) to the same Walmart Reserved Balances account, these two entries (the -$1,600 from the Link My Books settlement and the +$1,600 from the direct bank deposit) will net off to zero in that account.
Since the actual sales, refunds, and fees related to the early withdrawal period are correctly accounted for as part of the next normal payout (which Link My Books processes fully), this manual allocation keeps everything balanced and ensures your accounting accurately reflects all transactions.
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