Thanks for following this thread, andgre01.

I’ll help and guide you on how to record your sales in QuickBooks Online (QBO).

We’ll have to record the $5000.00 and the excess sales via sales receipt or invoice. Then hold them first in the Undeposited Funds before depositing the entries into their respective accounts.

Here’s how:

1. Tap the New menu in the upper right and choose Invoice under Customers.
2. This action will open the page where you can input your sales.
3. Fill in the fields with the right information.
4. In the Deposit to drop-down, choose the Undeposited Funds.
5. Input the correct sales figure in the Amount  (USD) box.
6. Click Save and close/Save and new.

To record the payment:

1. Press the New menu and select Receive payment under Customers.
2. On the Receive Payment page, input the client’s name in the Customer field.
3. Navigate to the Outstanding Transactions section and tick the box for the invoice you’re working on.
4. Enter the amount you wish to apply on the invoice in the Payment field. For example, $5000.00.
5. Click Save and close.

After performing these steps, deposit the payment and track it to your checking account. Let me share the steps on how to do this in your company.

1. Click the New menu and choose Bank deposit under Other.
2. This will take you to the Bank Deposit page.
3. Press the Account drop-down to select your checking account.
4. Tick the box for the payment you wish to deposit.
5. Tap the Save and close button.

Please know the excess amount is still recorded in the Undeposited Funds. Make a deposit when you’re ready to post it to the right bank or credit card account.

You can bookmark the following links in your browser for future reference. These articles outline the complete instructions on how to accept customer payments and hold them into Undeposited Funds. From there, you'll learn how to combine transactions in the online program.

• Record invoice payments in QuickBooks Online
• Deposit payments into the Undeposited Funds account in QuickBooks Online

Keep me posted in the comment box below if you need help managing your sales and other customer-related transactions. I’ll get back to assist further. Have a great day ahead.