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January 22, 2019
Question

How do I record the quickbooks verify bank withdrawal and refund?

  • January 22, 2019
  • 3 replies
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Original commenter did not share additional details

3 replies

Regina_Lend_A_Hand_Accounting
January 22, 2019

This is a Net Zero transaction because as they debit and credit the same amount. You can put the debit and credit to an expense account of your choosing such as bank or merchant processing fees.

January 22, 2019

Thank you

August 21, 2020

I am trying to verify payroll account. They sent the amount to my bank account that went through today however when I go to verify it there is nowhere to verify. 

 

August 22, 2020

Not to worry, Lisa F.  I'm here to make sure you can verify the amount so you can start using the payroll service in QuickBooks Online.

 

QBO offers two ways for verifying the test transaction. You can either verify it via the Workers/Payroll tab or though the Payroll Settings. I'll show you how to accomplish the task.

 

To confirm the test transaction via the Payroll tab:

 

  1. From the left navigation panel, select the Payroll tab.
  2. Choose Employees.
  3. Click Finish payroll tasks on the main Employee's page.
  4. Click Verify the test deposit now.
  5. Enter the test deposit amount in both boxes.
  6. Click OK.

If you haven't seen the New payroll tasks button, you can follow these steps to verify the test transaction:

 

  1. From the Settings icon, select Payroll Settings.
  2. Choose Company under Bank Accounts.
  3. Select Verify Account, and then enter and confirm the amount.

These steps are sure to help you verify payroll account in no time!

 

For more details, check out our detailed guide on how to verify test transaction.

 

Please feel free to get in touch with me here for any additional questions. I'll be around to help you out.

July 30, 2022

I don't have Quickbooks Payroll - how do I record the QBO verify bank withdrawal?

July 30, 2022

I can help you record the verified bank withdrawal in QBO, 

Molly310.

 

You can create an expense account for the bank withdrawal. Please ensure to consult with your accountant for further guidance. 

 

Here's how to create an expense account:

 

  1. Go to + New > Expense.
  2. In the Payee drop-down, you can create a vendor or leave it blank.
  3. Choose the bank that is connected to the online banking from the Payment Account drop-down menu.
  4. Select the Payment date.
  5. In the Category details section, choose the bank and enter the test deposit in the Amount field.
  6. Click Save and close.

 

If you need help with other tasks in QBO, specifically banking concerns, you can visit our Help page for tips and browse articles that have detailed information.

 

If you need anything else, you can post to the Community anytime.