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M
Michelle Marian
January 18, 2024
Question

How to Record a Deposit in 2 months

  • January 18, 2024
  • 1 reply
  • 0 views

I have a deposit that was made and recorded in Jan 2024. Part of that deposit should be recorded for Dec 2023 (even though the deposit is recorded in the bank account for Jan 2024) and the remaining should be recorded for Jan 2024. What is the method I shoud use to make sure part of the deposit is recorded for dec 2023 in QB? 

1 reply

I
IrizA
January 18, 2024

Hey there, Michelle. Welcome to the Community. 

 

In recording a deposit in QuickBooks Online (QBO), the Date and its transactions should based on your Bank statement. Since you've mentioned that the said transactions have a different year, you'll need to create two Bank Deposit. The first deposit consists of the previous year's transaction while the other deposit consists of the current year. 

 

Here's how: 

 

  1. Go to the +New located at the upper left. 
  2. In the Other column, click the Bank deposit option. 
  3. Within the Bank deposit, fill out the necessary fields such as the Account, Date, Received From, Date, Type, Payment Method, and Amount. Ensure that the indicated date is the same as your bank statement. 
  4. Once done, click Save and Close. 

 

If you happen to include the transactions in the wrong Bank deposit, you can untick it within the Chart of Accounts. Kindly follow these steps: 

 

  1. Go to the Gear icon located in the upper right corner. 
  2. Under the Your Company column, choose the Chart of Accounts.
  3. Search the name of your account. 
  4. Under the Action column, click the View register.
  5. Choose the deposit transaction and press Edit. 
  6. Untick the transaction that wasn't supposed to be there. 
  7. Once done, click Save and Close. 

 

Since this matter involves recording your financial entries, I recommend contacting an accountant for more accurate data. 

 

You can also view this material to learn more about bank deposits: Record and make bank deposits in QuickBooks Online. 

 

Furthermore, you may want to learn how to reconcile your accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online. 

 

Kindly press the reply button if you need further assistance. We're always around to help.

M
Michelle MarianAuthor
January 18, 2024

Thank you! I know the entries should match the bank account. But I wanted to match the amount deposited to what our outside booking company shows (Booker). Long story short..

Transactions are recorded through Booker, associates make the deposits on a given day, but do not always coincide with the month they should be recorded to. For example, Booker shows December cash transactions to be $2000 and January shows cash transactions to be $1000. The associate makes a bank deposit of $3000 on Jan 31. I would like the $2000 December deposit to show in QB in December, not january without it affecting month end reconciliations.

Is there a way to do a journal entry to acheive this?

 

Thank you!

AlcaeusF
AlcaeusF
January 19, 2024

Hi Michelle,

 

I appreciate you keeping in touch with us here in the Community space. Allow me to chime in and help you with your question about recording a deposit in QuickBooks Online.

 

Changes to the amounts or transactions in a specific period affect your reconciliations. You can use the Journal Entry feature to correct the figures, but I recommend seeking guidance from an accountant. This way, they can provide additional guidance for the accounts to affect and ensure books are accurate.

 

Each bank deposit creates a separate record in QuickBooks. Make deposits one at a time for each of your deposit slips. For additional guidance, check out this link: Record and make bank deposits in QuickBooks Online.

 

Let us know if you still have more questions about entering deposits by leaving a reply. We'll be sure to get back to you. Take care, and have a great rest of the day.

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