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A
Adalius
December 28, 2021
Question

Reconciling Bank Error With Original Bill Payment

  • December 28, 2021
  • 1 reply
  • 0 views

We created a bill for a vendor for $227.84 and then used Pay Bills to cut a check for that amount. It was mailed to the vendor, they deposited it. Our bank mistakenly processed it as $277.84. They then, as a separate transaction, issued a correcting deposit for $50.00 to offset the error.

How can I handle this in the banking feed since the $277.84 doesn't match the bill paid entry, so it won't resolve against it on its own. If I go into find match and then 'resolve' it doesn't show the other pending deposit for $50.00 as there's no entry created for it yet, so I can't simply checkbox the bill and the deposit, and I didn't want to do that until I know if that's the correct way?

1 reply

S
ShiellaGraceA
December 28, 2021

I'll be glad to walk you through how to match your bank feed transactions with QuickBooks, @Adalius.

 

You can enter an adjustment to resolve the difference. Here's how:

 

  1. On the Banking page, find an item with an amount that doesn’t match with the transaction you entered.
  2. Choose the transaction, and tick Find Match.
  3. In the Match Transactions page, select the transaction to match. 
  4. Scroll to the bottom of the table and enable Resolve difference on the right.
  5. In the Add resolving transactions section, enter the deposit. Then, tap Add new deposit for money received.
  6. Click Save when you’re through. See the attached image below.

 

With the above steps, you're able to record and match your bank feed transactions with QuickBooks. Here's an article for more information about matching transactions: Categorize and match online bank transactions in QuickBooks Online.

 

In case you need help with bank-related tasks, browse this link to go to the page: Find help with bank feeds and reconciling accounts.

 

I'll be around if you have other questions or concerns with bank reconciliations. Don't hesitate to reply. Take care and have a nice day ahead.

 

 

A
AdaliusAuthor
December 28, 2021

Doing that still leaves the $50 deposit sitting in the banking feed.

 

Right now the feed has:
12/27/21 - Check Adj Credit - $50 <Review>
12/15/21 - Paid Check 12599 - $277.84 <Review>

If I do as you say, and I add the deposit to the bottom to resolve it, and hit save,

the top entry for the adjustment is still sitting there in the bank feed as nothing has been done for that entry in the banking feed...

AlcaeusF
AlcaeusF
December 28, 2021

Hi there, @Adalius.

 

Thanks for getting back to us and following the steps shared by my colleague above. Allow me to chime in and help resolve this for you.

 

Based on the information you've shared, there are two options that you can do depending on what you prefer. The first one is to exclude the $50 deposit since this is only a correcting deposit, and you resolved the difference on the original payment.

 

Here's how:

 

  1. In QBO, go to the Banking menu at the left pane to get to the Banking page.
  2. Select the $50 deposit on the list, then click Exclude.

 

For more information about excluding bank transactions in QuickBooks Online (QBO), check out this article: Exclude a bank transaction you downloaded into QuickBooks Online.

 

The second option is if you want to add the $50 deposit, you can create a bill or check and use the Accounts Payable (AP) account. Here's how:

 

  1. In QBO, click the + New option at the top left.
  2. Select Bill or Check under Vendors.
  3. In the Category details section, choose AP.
  4. Enter the other necessary information in the desired fields.
  5. Hit Save and close.

 

Then, you can match them together on the banking page. Once done, you may now proceed with the reconciliation process. Refer to this article for further guidance: Reconcile an account in QuickBooks Online.

 

You can also visit our website to see some tips and other resources for future reference: Self-help articles.

 

Hello there, @Maxipos.

 

Are you having the same issue with this customer? If so, you can check the answers posted by me and my colleague above. However, if you have a different concern, just let me know in the comments.

 

Keep us posted if you have more questions about reconciliation and bank transactions in QBO. ’ll jump right back in to make sure you’re taken care of. Take care.

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