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Dani31
January 21, 2022
Question

Fixing Mistakes

  • January 21, 2022
  • 1 reply
  • 0 views

Hello, I am at the beginning of my career and I closed the books for fiscal year end and months later noticed I had mad a mistake setting up my credit card account. In the beginning I should have opened it with a beginning balance however I was silly and did a transfer from the bank to the credit card. It is a GIC mastercard that collects interest, so it has a surplus amount instead and we are using our own money instead of borrowing like a regular credit card. that's why it confused me on how to set it up to begin with. I really hope someone understands what I'm explaining lol. So the very first transaction which was last fiscal year needs to be fix but the accounts are closed for that year, and like I mentioned it is connected to other transactions. Is there an easy way to fix this or did I dig myself a big hole?

1 reply

N
Nick K
January 21, 2022

Hi Dani31.

 

One of the greatest parts of QuickBooks Online is the ability to go in and correct any mistakes that were made. I'd be happy to point you in the right direction for this.

 

If you're looking to make a change to an account in a closed period you first need to either enter the password to make the change or remove the closing date. In order to remove the closing date you can follow the steps in this article.

 

In order to fix your credit card account without affecting any others I recommend reaching out to your accountant as they are trained in how to make these kinds of corrections. If you don't have an accountant no worries, we can help. You can find one in your area by going to My Accountant>Find a pro to help.

 

If you have any questions let us know and we'd be happy to help.

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