Customer wrote check for incorrect amount, bank deposited, then debitted us for the difference. How do I account for this?

accounting281 · ‎January 29, 2021

Hi All,

We charged Customer X $2455 in December 2020.

Customer X wrote us a check for $2455 in the number field but wrote the check for "two-thousand four hundred & forty five".

Bank initilally deposited for $2455, (we accounted for the deposit as SALES in QBO) but bank later took out $10 from our account & failed to send us an adjustment letter. (Not all their fault, we failed to see the discrepency in the check too).

Anyhow, I found the error in 2021 while reconciling December 2020.

How do I account for the $10 we got dinged for in 2020? Expense- to customer sales?

Thanks!

Rustler · ‎January 30, 2021

enter a check in the bank account, check number is EFT, amount is $10, and use the sales income discount account as the expense (reason) for the deposit

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Customer wrote check for incorrect amount, bank deposited, then debitted us for the difference. How do I account for this?

Customer wrote check for incorrect amount, bank deposited, then debitted us for the difference. How do I account for this?

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