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Rachel888
April 14, 2021
Question

How to record reversed deposit in QB

  • April 14, 2021
  • 1 reply
  • 0 views

Hello,

 

I've wired fund but it got reversed due to wrong transits #. Below is what I see now and I wonder how clear those two transactions off. I would appreciate if  you help me out.

 

DATEDESCRIPTIONPayeeCategory or MatchTaxSPENTRECEIVED
04/08/2021wire fund   $100 
04/08/2021B Dr Rev    $100

 

Thanks!

1 reply

A
Alex M
April 14, 2021

Hi there Rachel888,

 

Making sure your transactions are recorded correctly is an important part of managing your books. QuickBooks Online is a great tool to help you keep up with the financials of your business. I can provide some assistance with your bounced wire.

 

One way to record this bounced wire transfer would be to follow the steps provided within this article about What to do if your cheque bounces. The steps listed under scenario 3 details how to do it if you have a bill associated with the payment that bounced. 

 

I recommend speaking to your accountant in order to find out the best way to enter this bounced wire transfer within your books. Their accounting knowledge as well as understanding of best business practices will be able to guide you into making the correct decision on how to enter this transaction. You can add your accountant to your QuickBooks account in order for them to have access to your books by navigating to the My accountant section and entering their contact info. If you wish to find an accounting professional near you with Quickbooks experience, you can click on the Find a pro to help button at the bottom of that page.

 

If you have any further questions, feel free to reach out here.

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