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April 5, 2021
Question

Deposit

  • April 5, 2021
  • 1 reply
  • 0 views

Please help.  I accidently deposited another entities funds into my Quickbooks account.

 

Which expense and income account should I hit.

 

I already made a deposit to my bank account and will be cutting a check to the correct entity, but which accounts should I classify the transactions under in the general ledger?

 

1 reply

Rustler
April 6, 2021

Use Other Income for the source account for the deposit

Use Other Expense for the expense account on the repayment

on the P&L they will cancel and there will be no effect on your books