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L
Looney
April 9, 2024
Question

The clerk gave me too much and now QB is taking it as sales

  • April 9, 2024
  • 1 reply
  • 0 views

Hello everyone, I hope someone can help me with this. I went to my bank and the clerk gave me $5013.70 when I only needed $513.70, since I was in a hurry, I took the money and left to pay the $513.70 before the place was closed, once I paid, I went to the bank and return the $4500.00 to the business account and now. QuickBooks thinks that the $4500.00 are income from sales when it is not. How can I fix this or record it so it doesn't go as income? Thanks in advance.

1 reply

R
ReymondO
April 9, 2024

Thanks for sharing your concern and adding a screenshot, @Looney.

 

You can exclude both downloaded transactions from the Banking page and manually record the exact withdrawal amount. This way, only the $513.70 will be recorded in QuickBooks. Here's how:

 

  1. Go to Transactions, then select Bank transactions.
  2. Click the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Click Exclude.

 

Once done, you can now record the withdrawn amount which is $513.70 as an expense QuickBooks.

 

If you want to properly track the overwithdrawal and the money you return to your bank, I'd suggest getting in touch with your accountant. This way, they can provide you with the right categories you can use when categorizing the transactions.

 

For additional reference about reviewing your downloaded transactions in QuickBooks, you can check this article: How to review downloaded bank and credit card transactions.

 

If you have further questions about recording withdrawals or other QuickBooks-related tasks, just add them to the thread. I'll be here to help you out. Have a good one.

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