Skip to main content
S
Serenskipity
May 9, 2020
Question

Match Reversed Bank Deposit

  • May 9, 2020
  • 1 reply
  • 0 views

Hi ~ Bank Deposit incorrectly submitted [$3.00] ~ Bank caught the error and completely reversed the full deposit and re-recorded the correct deposited amount.  My question is, when trying to match in "Banking", the OLD-INCORRECT deposit amount with the OLD-INCORRECT bank reversal amount [Credit/Debit], the option to do so, does not appear in the choices available, when one tries:  "Find match".  The corrected [corresponding] amount, does not present as an option from which to choose.

Can I simply choose the BLUE "Add" from the correction [corrected/reversal] bank [Debit] line above, and match them that way? 
And, of course, when the paid invoices are applied to the correct/corrected deposit amount, they balance out properly; it is simply applying the straight [bank deposit] Debit [ABM Reversal ATM] to the straight [bank deposit] Credit, that is providing the issue.  How do I do this?  Thanks.

1 reply

AddieC
AddieC
May 11, 2020

Hi there, 

 

QuickBooks Online bank feeds help keep you organized and save you tons of time during your monthly reconciliations. I know how important it is to make sure your balance is reconciled properly and that you don't see incorrect entries in your account. I'll do my best to explain what may be happening with your account. 

 

You mentioned that there's an incorrect deposit appearing in your bank feed. Along with the incorrect deposit, you're also seeing the correct deposit. Since only one of these deposits is actually accurate, the incorrect deposit can be Excluded from the bank feed, by checking off the box next to the transaction, then clicking Batch Actions > Exclude Selected.

 

Once you've excluded the incorrect deposit, you can match the correct deposit with your QBO records. If this transaction matches what you've recorded in your QBO account, you can use the Find Match tool. If there's no entry made in Quickbooks yet, you can use the Add option. If you know you've recorded this transaction in your books already but it's not being picked up when you select Find Match, there may be a slight discrepancy between the two entries. Double check that what you've recorded in QuickBooks matches your real life bank account.

 

Here's more information about the adding and matching tools in the QBO banking page: Categorize and match online bank transactions in QuickBooks Online.

 

I hope this gives you a place to start in resolving this issue, however it sounds fairly complicated and might benefit from more in-depth help from an agent. I'd encourage you to reach out to our tech support team so one of our experts can share your screen and see exactly what you're dealing with. 

 

Have a great day.

S
SerenskipityAuthor
May 12, 2020

Yes, thank you.  QuickBooks is awesome!

Yes ... so let's use this simpler example:
When depositing money into my bank account, I miscalculated the total by $3.00.
So let's say that 100.00 went into the account and the bank said "nope" ... and reversed the 100.00 and corrected it to state 103.00.  As you know, ALL three transactions show up in QB.  So, when 'matching' the corresponding amounts of the $100.00's debit and credit in "Banking", how do I off-set them to cancel each other out?  i.e.  There is a "Spent" and a "Received" identical amount 3 days apart in Banking; how do I connect them - how do I "clear" them out of "For Review"?  I was interested in your "Exclude" option too, but I couldn't find "Batch Actions > Exclude Selected" in the Banking module of the program.  Where was that ...?  Thanks!

AddieC
AddieC
May 12, 2020

Hi Serenskipidy, 

 

Thanks for providing more info. You're on the right track. Since there's going to be 3 entries (duplicate transactions), you'll use the Exclude option to remove the duplicate from the For Review section.

 

Here's more information about how to Exclude transactions from the bank feed: Exclude expenses from downloaded bank transactions. 

If you're still in need of assistance, I'd strongly encourage you to touch base with our tech support team, as these agents can remotely share your screen to see exactly what's happening. 


Cheers. 

Terms & ConditionsAccessibility statement