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September 1, 2021
Question

Deposit going into wrong account. happened for over 1 year accountant could not figure it out.

  • September 1, 2021
  • 1 reply
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i have fixed the deposit part for new deposits. i am looking for how to fix the previous deposits.

1 reply

September 1, 2021

I'll make sure you're able to fix your previous deposit transactions in QuickBooks Online (QBO), @primepumpingands. This way, you can deposit them to the appropriate account and keep them updated.

 

When your deposits are going into the wrong account, you'll have to manually correct each of them by changing the account to the right one. You can do this by visiting your register and make the necessary updates from there. Here's how:

  1. Go to the Accounting menu.
  2. Select Chart of Accounts
  3. Find the account (the wrong one) you want to review, then choose View register under the Action column. 
  4. Click a deposit to open its details and choose Edit
  5. On the Bank Deposit page, choose the appropriate account in the Account field.
  6. Choose Save and close. Repeat steps as necessary. 

 

Once you're done, open the correct account to make sure that all deposits are transferred accordingly.

 

Also, when your deposits are downloaded, you'll have to categorize and match them to the existing entries in QBO. This will keep your financial data accurate. Then, I'd recommend reconciling your accounts every month to detect any possible errors accordingly. For the step-by-step guide, you can refer to this article: Reconcile an account in QuickBooks Online.

 

On top of that, I'm adding these articles to further guide you in managing your chart of accounts, deposits, and bank feed transactions in QBO: 

 

Please don't hesitate to comment below if you have other banking concerns or inquiries about managing deposits in QBO. I'm always ready to help. Take care and stay safe, @primepumpingands.