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wahdpt
December 12, 2023
Question

Bank Reconciliation

  • December 12, 2023
  • 1 reply
  • 0 views

Dear QBO Community,

my self having some business senario

 

Collection from Customer on Dated 10th Dec 2023


Customer A  $ 1,000

Customer B  $ 2,000

Customer C  $ 5,000

we posted all the collection on customer account correctly.

 

Out of this collection $ 8,000 following bill paid

Transport $ 550

Mobile bill $ 200

Total Expense paid $ 750

we posted all the expenses correctly on the same day 10th Dec 2023

 

Cash in Hand $ 7,250

 

Deposited to Bank total $ 6,800 ($ 4,000 and $2,800 ) respectively on 10th Dec 2023

 

balance carried forward to next day $ 450

 

the question 
How we can reconcile in Bank where as bank entry show $ 4,000 and $2,800 respectively 
how to add the Expense $ 750 / Cash in Hand $ 450, which cash in hand should be add with next day collection as well. 

 

any expert kindly advice best treatment.

 

 

 

 

 

 

 

 

 

1 reply

L
LeizylM
December 12, 2023

Hi there, wahdpt. I'd be glad to share some insights about reconciling transactions in QuickBooks Online (QBO). 

 

If you haven't created sales receipts and invoices for customers A, B, and C, we can create two bank deposits and add these customers. Ensure that the total of the chosen transactions aligns with your deposit slip.

 

Here's how:

 

  1. Click + New.
  2. Select Bank Deposit.
  3. From the Account dropdown, choose the account you want to put the money into.
  4. Add the Customer and the amount.
  5. Once done, click Save and Close.

 

I've added these articles to learn more about about reconciliation: 

 

 

Don't hesitate to get back to me if you've got additional reconciliation concerns. I'll be here ready to help. Stay safe and have a good one.

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