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O
ovtnvw
March 6, 2024
Question

Recording and clearing return

  • March 6, 2024
  • 1 reply
  • 0 views

Hello,

 

Due to space limitations I needed to start a new QB file on Jan 1. I did not bring over any sales or customer information. This year I needed to issue a refund for a sale made last year and recorded in my old file. The only way I could see to record this was to create a sales receipt for the original sale and record the deposit both dated 12/31. Then I recorded the refund.

 

The problem is that this deposit for that sale (dated 12/31) is showing up when I reconcile my bank statements. Was there a better way to do this? If not, does anyone have any suggestions on how to clear this deposit.

 

Thank you.

1 reply

R
ReymondO
March 6, 2024

Hi there, @ovtnvw. I'd be glad to share a workaround to clear your deposit in QuickBooks.

 

If your company file has grown too large, you can reduce its size by condensing it to a specific date range. This process removes individual transactions outside the chosen range and replaces them with summarized monthly transactions.

 

This way, you can still record a refund for your sale In your old company file. You can follow the steps in this article and choose the options to reduce your company file size: Condense your QuickBooks Desktop for Mac company file.

 

If you want to record your sale and refund in your new company file, I'd suggest deleting your other transaction in your old company file. This way, you don't necessarily need to reconcile them on both company files. 

 

Moreover, you can run several reports in QuickBooks Desktop for Mac to give an overview of what's going on in your business.

 

If you have additional queries about handling your transactions in QuickBooks, just add them to the thread. I'll be here to help you out. Have a good one.

O
ovtnvwAuthor
March 7, 2024

Hello RaymondO,

 

My accountant told me to not condense the data because of loosing the individual transactions which I need to retain. I suppose I could have made a copy of the file then condensed the working copy.

 

I sounds like there is no way to remove this deposit other than creating reconciliation for this one transaction which I can do.

 

Thanks for your help.

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