Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Our business owner accidentally withdraw $2003.75 from the business account. He withdraw $2000 and bank charged $3.75.
Should i record this as
Due to/from XXX 2000
Bank charge 3.75
Chequing account 2003.75
when the owner deposit this money into our chequing account, he deposited 2003.75.
How should i record this?
Chequing account 2003.75
Due to/from XXX 2000
I don't know which account should i choose to balance this out.
Hi zkwatchandlearn,
It's good that accidents like these can be corrected. I'll be happy to steer you in the right direction.
I want to make sure you get expert advice on how to record that transaction. It's important you reach out to an accounting professional about this. The good thing is our website makes it easy to search for one. You can do this by entering your postal code and you'll get a list of results with professionals in your area.
Feel free to ask questions. :)
A professional accountant does not necessarily know how to use Quickbooks or any other software package and this is not an accounting question.
Keep it simple: there is no need to break out the bank charges in either transaction - the shareholder owes the whole amount.
Due to/from shareholder: 2003.75
Chequing account: 2003.75
For the Deposit entry use the make deposits function. Open a deposit slip and on a blank line enter the following:
Select the appropriate bank account to deposit to and the correct date.
The Received From column can be left blank; the From Account: Due to/from Shareholder; complete the rest of the details as required.
Done!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here