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SmoknBlues
March 11, 2021
Solved

Overdraft Fees charged were internally credited by the bank, and not recorded on QBO.

  • March 11, 2021
  • 1 reply
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We had a series of overdraft fees for a few cleared transactions during a period, when we didn't realize it, however, after speaking to the bank, those were reversed -thankfully. The original fees charged were recorded  in the bank, in the statement, and transferred over to our QBO bank transactions. However the credit to off set these charges was not. (It mist have been internal because that credit is not listed in our statement either. Now I am not balancing for this amount. How do I make my check reconciliation balance once again?

 

Thanks in advance!

Best answer by AlcaeusF

Thanks for posting in the Community, @SmoknBlues.

 

To offset the original charge in your bank account, you can enter a deposit in QuickBooks Online (QBO). The steps to do this are pretty quick and simple.

 

Here's how:

 

  1. In QBO, go to the + New button from the left menu to enter a Bank deposit.
  2. Choose the bank in the Account drop-down.
  3. Enter the fee in the Amount section.
  4. Fill in the other necessary information in the desired fields.
  5. Hit Save and close to complete.

 

Once done, go back to the For Review tab in the Banking page to match the downloaded transaction from your bank.

 

After that, you can now proceed with reconciling your account in QBO. For more information on how to go about this, consider checking out this article: Reconcile an account in QuickBooks Online.

 

Please know that I'm only a post away if you have any other concerns or questions. I'll be happy to answer them. Have a wonderful day!

1 reply

AlcaeusF
AlcaeusFAnswer
March 11, 2021

Thanks for posting in the Community, @SmoknBlues.

 

To offset the original charge in your bank account, you can enter a deposit in QuickBooks Online (QBO). The steps to do this are pretty quick and simple.

 

Here's how:

 

  1. In QBO, go to the + New button from the left menu to enter a Bank deposit.
  2. Choose the bank in the Account drop-down.
  3. Enter the fee in the Amount section.
  4. Fill in the other necessary information in the desired fields.
  5. Hit Save and close to complete.

 

Once done, go back to the For Review tab in the Banking page to match the downloaded transaction from your bank.

 

After that, you can now proceed with reconciling your account in QBO. For more information on how to go about this, consider checking out this article: Reconcile an account in QuickBooks Online.

 

Please know that I'm only a post away if you have any other concerns or questions. I'll be happy to answer them. Have a wonderful day!

S
SmoknBluesAuthor
March 12, 2021

Thank you so much! Appreciate all the help!

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