Skip to main content
J
judith4
August 9, 2023
Solved

Check cleared for the incorrect amount

  • August 9, 2023
  • 2 replies
  • 0 views

I came across a bank error when trying to reconcile our bank account. 

 

I wrote a check to our landlord for 2,039.05 and the bank cleared it for 2,039.02. 

 

It's only $0.03 and not worth contacting the bank to make a correction. 

 

The landlord received the correct amount so I don't want to make any adjustments there.

 

What is the easiest/best entry to make (QBDT) so I can reconcile our account? 

 

Thank you for your help.

Best answer by btks

You could do a journal entry:

debit your checking account  .03

credit rent expense .03

2 replies

BigRedConsulting
BigRedConsulting
August 9, 2023

Edit the check and change it to the amount that cleared your bank.

J
judith4Author
August 9, 2023

That would be easy but that would lead me to having to adjust the bill.

 

My documentation would no longer match my QB entries. 

 

Isn't there some sort of adjustment I can make without having to change the check and bill amount?

BigRedConsulting
BigRedConsulting
August 9, 2023

RE: That would be easy but that would lead me to having to adjust the bill.

 

Not really. You could instead change the payment and then use the Pay Bills feature to discount the bill's then open balance of .03.

 

Really three cents isn't material, so you could also just adjust the bill. .03 just doesn't matter for accounting purposes.

btks
btksAnswer
August 9, 2023

You could do a journal entry:

debit your checking account  .03

credit rent expense .03

    J
    judith4Author
    August 10, 2023

    Good Morning. 

     

    I ended up going with your solution since it allowed me to not adjust the correct accounts without changing my original entries and I was able to make notes in the memo as to why I was making the journal entry. 

     

    I knew there was an easy solution but for some reason, my brain wasn't functioning yesterday. 

     

    Thank you.

    Terms & ConditionsAccessibility statement