Hello, Jen.
I'd be happy to help you in handling this transaction in QuickBooks Online (QBO).
The interest charged adjustment decrease is a type of entry that is used to make changes to the interest charged on a debit account. This occurs when there has been an error in the calculation of interest, a change in the terms of the loan, or a dispute regarding the amount of interest charged. To logged this transactions, you can create a journal entry.
Take note that you'll have to do this outside of the reconciliation page in QBO. For comprehensive advice in selecting the appropriate account, I recommend consulting with an accountant. Here's how to enter it:
- Click the + New button.
- Choose Journal entry.
- Enter the debits and credits.
- Review the amounts and add a memo as needed.
- Hit Save and close.
In QuickBooks Online, you can also create adjustments at the end of reconciliation to balance your account. However, this method creates an expense transaction if the difference is negative, or an income transaction if the difference is positive. For the detailed steps, I recommend reading this article: Enter an adjusting entry for a reconciliation in QuickBooks Online.
I'll include this article to guide you in categorizing transactions and locating previous reconciled adjustments:
If you have any further questions about reconciliation in QBO, feel free to reach out. We're here to help.
