When funds are first paid to a project in Goodshuffle Pro, the funds will be held in 'Undeposited Funds' in QuickBooks Online.

As soon as they are transferred to your bank (or 'Paid Out') from Goodshuffle Pro, a Deposit will be created in QuickBooks Online containing all the payments included within that payout.

The funds included in the deposit will then be moved from 'Undeposited Funds' to your checking account.

Processing Fees will also be included within this Deposit.

You can see the details in the Transaction Journal for the Deposit in QuickBooks Online.

This deposit will be matched to the transfer record from created from connected bank in QuickBooks Online.

Negative Payouts

Should the balance of the payout be negative (the deposit contains more refunds or expenses than income), then you will see a Journal Entry be created. Journal entries can also be created should the deposit recorded from Goodshuffle Pro not match the record created by your bank.

In the event that a negative Payout occurs, Quickbooks Online doesn't support a negative Bank Deposit. When you click on a Bank Deposit linked to a negative payout you'll see the related charges and refunds linked (which on their own would be negative), but they'll also see that the Bank Deposit is linked to a positive amount that offsets the negative balance making the Bank Deposit equal $0.

Negative payout in Goodshuffle Pro

Corresponding Payout in QuickBooks Online

If you click on that offsetting transaction you'll see a journal entry between the Undeposited Funds and your bank account, pulling funds equal to the negative payout amount from the bank account into undeposited funds, thereby offsetting the negative balance caused by the charges/refunds linked to the negative payout.

So now a journal entry is created that credits the vendors bank account by a negative $4941.28 (effectively pulling funds from it) and we debit the Undeposited Funds account by negative $4941.28, effectively adding that amount. Finally, the debit to the Undeposited Funds is linked to the Bank Deposit and we get a negative payout in QuickBooks Online.



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