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M
marissa-leadersm
August 2, 2021
Question

How do I reconcile money received less bank payments?

  • August 2, 2021
  • 1 reply
  • 0 views
Where bank deposits have been deducted from my money transferred from a client how do i reconcile this in my accounts. For example, I received £15 less than I was owed. I have done a journal entry to Dr expense bank charges CR Debtors receivable but my customer account still shows the £15 due? How do get it to be written off the customer account so it shows that the customer balance is zero?

1 reply

M
Maybelle_S
August 2, 2021

Good to see you here in the Community, @marissa-leadersm.

 

I can help you written off the customer account in QuickBooks Online (QBO).

 

To settle the open invoice with the Journal entry:

 

1. Go to the Sales menu, and then All Sales.

2. Locate the invoice which has incurred the bank charges.

3. Select Receive payment on the top right of the invoice.

4. Under the Receive payment page, tick to select the invoice and the journal entry.

5. Make sure the Amount received is correct (total invoice amount - bank charges = Net amount received).

6. Hit Save and close.

 

I've also added this article on how to match your bank and credit card statements: Reconcile an account in QuickBooks Online.

 

Let me know if you need anything else. I'll be here to lend a hand. Take good care.

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