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flexiblechildcar
February 9, 2020
Question

I have a deposit I accidently marked as a transfer and now I can not go back in and change it to be a deposit?

  • February 9, 2020
  • 2 replies
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    2 replies

    Angelyn_T
    Angelyn_T
    February 9, 2020

    Happy to have you here on the Community page, @flexiblechildcar.

     

    If the transfer made was under the Banking page, then you can undo it to deposit or add it to QuickBooks correctly.

     

    Here's how:

     

    1. Tap on Banking at the left pane so you'll be routed to the Banking page.
    2. Select your bank account under the Banking page, then go to the Reviewed section.
    3. Look for the transaction that was marked as transfer, then hit on Undo under Action.

     

    Once completed, the transaction will now go back to the For Review column and can either Match it to the transaction manually recorded in QuickBooks Online (QBO) or just Add it to QuickBooks.

     

    On the other hand, if you've manually recorded the transfer, delete it, then record a deposit.

     

    To delete the manually recorded transfer of funds:

     

    1. Click on the Search icon beside the Help menu, then tap on View more.
    2. Filter the search to Transfer by clicking on the drop-down arrow beside Search and selecting Transfers, make the rest of the filters, then click on the Search button.
    3. Look for the transaction from the result, then click it to open.
    4. Hit on More beside Make recurring, then pick Delete.

    After, record a deposit correctly. For your reference, check out this article: Record and make Bank Deposits in QuickBooks Online.

     

    Let me know if you have any other questions. I'm a post away to help. Have a good day!

    S
    suemaros
    June 16, 2020

    Hi.

    I ran into the same issue. I followed the steps to undo the transaction, however, in the Action column I can choose only Transfer. What steps did I miss? Thanks.

    D
    Dlolah2021
    February 8, 2022

    If a deposit was made but the incorrect amount was on it and instead of depositing into correct account he just transferred and now it’s all messed up

    MaryLandT
    MaryLandT
    February 8, 2022

    That's a big mess for your bank accounts, Dlolah2021.

     

    Once we make changes to the deposit, your reconciled accounts are affected. And, you have to undo previous reconciliations to ensure bank balances are accurate.

     

    To fix this, you can delete the deposit, then create a new one with the correct amount. Then, post it to the correct bank account.

     

    Here's how:

     

    1. Click + New.
    2. Select Bank Deposit.
    3. From the Account ▼ drop-down, choose the account you want to put the money into.
    4. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
    5. Click Save and close or Save and new.

     

    Once done, check the affected banks to know where to start unreconciling accounts. Also, please know that you can only unreconcile one transaction at a time.

     

    Here's how to edit and unreconcile the transaction.

     

    1. Go to Accounting from the left menu, choose Chart of accounts tab.
    2. Find the account that has the reconciled transaction, select View register.
    3. You’ll see an “R” in the checkmark ✔ column to a reconciled transaction.
    4. Select the transaction to expand the view.
    5. From the checkmark ✔ column, select the box with the “R” until the box is blank. This removes the transaction from the reconciliation.
    6. Click Save.
    7. Do this to all transactions on that period.
    8. Close the account register.

     

    If you need to completely start over, reach out to your accountant. Only accountants can undo entire reconciliations.

     

    If a bank isn't balancing correctly after a reconciliation, there could be an issue with the original opening balance on the account. Or sometimes the beginning balance or ending balance on the account for the period you’re reviewing was entered incorrectly.

     

    Please get back to me if there's anything else you need by commenting below. I'm always right here to help ensure you're able to correct the deposit.

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