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treasurer-newton
April 10, 2024
Question

A reconciled deposit has wrong Project. Edited deposit with correct project, it says it saved but when I look again, the old project is there. What am I missing?

  • April 10, 2024
  • 1 reply
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1 reply

R
RCV
April 10, 2024

Let me help you correct the reconciled deposit with the wrong project in QuickBooks Online (QBO), treasurer-newton.

 

If you manually record the reconciled deposit, we can edit it and associate the correct project. Just access the Chart of Accounts to modify the deposit. Here's how:

 

  1. Click the Gear icon on the top menu. 
  2. Choose Chart of Accounts.
  3. Click the View Register for the appropriate account.
  4. Locate the deposit with the incorrect project.
  5. Note the deposit amount and whether it has an R in the Reconcile box.
  6. Click the deposit in the register and click Edit to open it. Now you should be in the Deposits screen.
  7. Edit the deposit transaction with the correct project by clicking the transaction (an example is a payment or invoice transaction). Then, select the Customer ▼ dropdown and choose the project.
  8. Press Save and close.
  9. Click Yes to the message, “The transaction you are editing is linked to others. Are you sure you want to modify?”

 

 

 

 

If the deposit transaction came from your Bank Feeds, we can undo the transaction. Here's how:

 

  1. Go to Transactions, then select Bank transactions (Take me there).
  2. Choose the tile for the bank or credit card account you downloaded the transaction from.
  3. Select the Categorized tab.
  4. Find the transaction you want to delete.
  5. Click Undo from the Action column.

 

 

Then, go back to the For Review tab and associate it with the right project again. For more details about undoing or unmatching transactions downloaded into QuickBooks Online, check out this article: Unmatch downloaded bank transactions or move them to another account. 

 

Feel free to visit these articles for more insights about setting up and managing projects in QuickBooks Online Plus, Advanced, and Accountant:

 

 

You're more than welcome to drop by if you have questions about managing your projects. Do you need to run some project reports for this period? Or would you like to take care of taxes in QuickBooks? Let me know and I'll lend a hand again.

T
treasurer-newtonAuthor
April 10, 2024

The deposit was entered directly through "Make Deposits" when we were on Desktop Pro.  There is no Receipt transaction for this deposit.  However, I figured out what is different with QBO. 

To assign the project, we need to have the "Received From" be the Customer/Project.  In DesktopPro you can enter any "Customer" (we typically use the person who wrote the check which is not always the same person as the customer) and then enter the appropriate project. Example:  Engineer writes the check for the customer's project. In QBO, even though you can select ANY "Customer/Project", it must match to the Customer in "Received From" in order for it to be saved.

 

I consider this to be a flaw in the design.  If the project must match to the received from to save it, then the Project drop-down should only display valid options or it should display a warning they don't match instead of saving without the change.

 

Thank you for your help.

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