Banking
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An employee deposited a check into the wrong bank account. The check for $185.29 was supposed to go into a total different company's bank account. QuickBooks is synced with the bank so the $185.29 that was deposited in the wrong bank account posted and showed up in qbo banking for review window to categorize. The $185.29 was withdrawn from the wrong bank account a few days later. Right now it is posted as sales receipt under misc. income from the bank account for $185.29, then an expense of $189.29 as misc. income to remove the wrongly deposited check from the bank account. I do not feel this is categorized correctly. Where should this wrong deposit be categorized as in QuickBooks? Thank you.
I connected the wrong bank account for a different busines to Quickbooks Online. I caught myself and stopped before I imported any transactions but in Business View -> Banking -> Manage Connections, it's just sitting there waiting to be enabled. How do I completely remove it so there is no chance of this business accessing another's bank feed? Best, -Jamie
I manually recorded a handwritten check for QB online. When that checks clears my bank how do I handle that transaction?
I have a check that was previously reconciled in September of 2022 and is now showing in banking reconciliation. How do I remove that check without having to redo all of the reconciliations I've done since then? Thank you in advance.
Quickbooks online help states that you should note all other payments in deposit and re-create the deposit in order to edit one pymt transaction. How do you re-create it?
Just received a loan to buy a work vehicle. On my P&L report it shows my loan money as income. I know the loan isn't income just like I know that loan payments are not expenses (besides interest). Isn't this falsely inflating my income?
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Hi, I have linked my credit card account from Chase bank with QBO. Unfortunately I needed to import all transactions but I linked all 3 credit card holders transactions, so now when I reconcile all of the transactions are under 3 credits card accounts, but the Credit card statement is only under so I can’t reconcile. Can someone please explain how I can merge the three credit cards to the main credit card accoutn but still import the transactions. THanks, Wes
Hi, I have taken over quickbooks maintenance in the year 2022 for my organization and i saw that in august 2021(month our bank account opened first time) has opening balance transaction of 132 dollars and it carried this as negative balance all over the future months. I see that this is an entry in quickbooks under "opening balance equity" category. I am not sure if this is an automated entry by quickbooks during integration with bank account. This amount is being carried over and showing up on all future "statement of financial position". How to update this. I tried to update the entry by changing the value from 132$ to 0$ but it says an alert that account is reconciled already and asking me to proceed or not. What is the best way to deal with this situation.
How do I import successfully?
Hello,I am using QB Invoice and payment. So, I see records of "system-recorded deposits for QB Payments" which I can match to the invoices because each deposit is usually for multiple invoices. Unfortunately, when I download transactions from the bank, I have yet another QB record that says something like "Intuit xxxxx DES:DEPOSIT ID..." which is automatically marked as a "clear" transaction because it is downloaded. I can change the Account on the downloaded transaction to Accounts Receivable or Income or whatever. My questions are: 1. I now have two QB entries for the same amount, "system-recorded deposits for QB Payments" and downloaded bank transaction. Which one am I supposed to use to reconcile?2. the system-recorded deposit shows who paid and thus allows me to clear the invoice. But it does not allow me to put in the right account like "Income".3. the downloaded bank transaction is automatically marked "clear". 
I use QBO and have my bank account linked to my QBO so all deposits are automatically linked. I have some deposits that need to be entered as a loan. (Money from my personal account that I put into my business account to cover overhead costs) How do I turn those already existing deposits on my account to show as a loan?
I use the Shopify Balance card for our payouts from Shopify as well as for business transactions but I cannot find a way to effectively import the data the Shopify Balance gives me into quickbooks.
We have a problem in banking in QuickBooks Enterprise:Sales via an online marketplace are downloaded into sales receipts, and normally the income listed on these receipts is deposited into the bank via Make Deposits.During 2022, the owner of the firm drew lump sums from the marketplace, registering them in QB as deposits to the bank from account Sales (income account type).This resulted in approx $18,000 in Undeposited Funds. We attempted to resolve this by setting up a Clearing Account (bank account type), "depositing" the sales receipt income into this clearing account, and then changing the account for each relevant bank deposit from Sales to Clearing Account. Alas, this resulted in a decrease in Sales in the P&L. Does anyone have any workable approach to this problem? We called Intuit support and received sympathy but no answer. We were also told that Intuit no longer has accountants on their ProAdvisor support staff.
Trying to find out how to attach a bank statement to a completed bank Reconciliation.
I need to provide a P&L and Balance Sheet to my employer today.I am reconciling my accounts, and I have several credit card payments and transfers between accounts that are showing up as duplicates in the registers, it is causing my accounts to be off from what the bank balance is. How do I fix this?
Trying to delete old transactions and credits. To make my account/reports more accurate.
Hello All, We just upgraded to Quickbooks Desktop Mac 2020. When originally setting up our QB accounts in 2015, we entered opening account balances and have successfully reconciled our bank and credit card accounts each month. When reconciling, we always ensure the opening balance matches our bank statement and complete reconciliation only after the ending balances match. This time, though, the opening balance showing in the reconciliation module is off by almost $30k. The balance sheet for that date, however, shows the correct bank balance. Any GL adjustment I make to fix the reconciliation opening balance offsets the correct account balance by the same amount. Is there a way to fix the opening balance without altering the account balance? More details...• ALL past Reconciliation Reports for this account reflect this $30k issue, despite that this was not an issue at the time of those reconciliations. Our FIRST reconciliation on 12/31/15 now reflects this discrepanc
I've had a bit of an issue with a particular transaction with my bank. There was a vendor payment that was made, and apparently there was an issue with the transaction...Payment was made, it was backed out by the vendor and then recharged. The bank is showing a single transaction in the bank website register as a deposit, and it sent the record over to Quickbooks as a deposit, although the bank shows the correct balance, so its just a display issue at the bank. However, because it came over to Quickbooks as a deposit, it throws everything off. What's best practice to handle something like this? Do I delete the bank transaction and create a manual expense entry? (or I guess EXCLUDE) I tried to edit the bank transaction in the Quickbooks register, but it shows as a deposit, and don't want to make a disaster for my accountant.
How do I enter in quickbooks my OWN money that I invested in the company. I am not familiar with the new version of QB
Is there a way to delete a bank account then reconnect or start from the beginning to change the dates of all transactions from last year. we accidentally did not select the date range when we connected the bank accounts. Below is what i am asking with the date range.
find a transaction using a bank transfer number
