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Community Backer **

adjustment bank

Hello,

 

How do I enter "adjustment/correction of posted item" in QB from my withdraw bank statement.

 

I received a check from customer of  $84 and deposit this check thru mobile banking but enter the wrong amount $94. I received my monthly bank statement and see that I have a Adjustment /correction of posted item from my bank -4.00. How do I enter this transaction in my desktop quick books.

 

Thank you

Solved
Best answer 4 weeks ago

Accepted Solutions
QuickBooks Team

Re: adjustment bank

Hello there, Eve2019.

 

We're unable to enter a negative amount alone when writing a check for it only accepts at least zero as the lowest amount. Thus, you'll need to include a positive amount on a different line.

 

On the other note, when you enter the adjustment from the Make Deposit screen, you'll have to enter the $94 and the -$4 on a different column. My colleague Jane_D provided a detailed instructions on the whole process. I've also attached a screenshot for your reference.
 

 

Also, I have here some resources that will help you be more familiar with the features and functions of QuickBooks Desktop: 

Don't hesitate to get back to me if you have other questions with the process and I'd be happy to assist.

View solution in original post

5 Comments
Moderator

Re: adjustment bank

It's good to see you here, Eve2019.

 

You can enter a deposit transaction for the adjustment amount of the posted item in QuickBooks Desktop.

 

Let me show you how:

  1. Open QuickBooks.
  2. From the Banking menu, select Make Deposits.
  3. In the Make Deposits window, choose a bank account in the Deposit To drop down and set the date.
  4. Select a payee in the Receive From column and choose an account. Then, enter $94.
  5. On the second line item, choose a payee and select an account. This time, enter a negative for value (-$4) for the adjustment in the Amount column.
  6. Once done, click on Save & Close.

You can learn more in this article: Record and make Bank Deposits in QuickBooks Desktop.

 

Let me also share this link for future reference: Reconcile bank and credit card accounts in QuickBooks Desktop.

 

If you have further questions, just let me know. I'm here to help. Have a good one.

Community Backer **

Re: adjustment bank

Sorry just a small confusion.

 

I have already paid the customers invoice.

 

 Step 4  - The payee would be me since the check is made out to me or my bank ?

The adjustment /correction is from my bank. When I deposit the check from the customer on my mobile app and then enter the amount that is where I enter the amount incorrectly & the amount entered and on the check did not match that is when my bank adjusted the correction but later bank charge me the difference.

 

Also when assigning an account - the account should be an expense?

-I have one set up as vendor -Bank of west -Expense account -Bank service charges

 

I entered the RECEIVED FROM -my bank of west 

 

or should I enter the transaction as write a check ? 

Moderator

Re: adjustment bank

Thanks for getting back to us, Eve2019.

 

To answer your first question, the payee in the Receive From column is your bank since they're the one who made the adjustment/correction. And yes, the account should be an expense.

390.PNG

 

As per the second question, yes, you can also write a check for the adjustment as well. Just make sure to choose the bank in the Pay to the Order of section and enter the expense account (bank service charges) in the Expense tab.

391.PNG

 

For additional resources, consider checking out these articles:

 

 

Please let me know if you have any other issues or concerns in the comment section, and I'll get back to you as soon as possible. Have a great day!

Community Backer **

Re: adjustment bank

Thank you FritzF,

 

I decided to write a check following your steps and now my debits are balance out. However I try to enter negative ($-4.00) as shown in the pictures but QB did not let me. So I enter $4.00 I guess it did not let me since me writing a check its already basically deducting/paying the bank right?

 

Thank you,

QuickBooks Team

Re: adjustment bank

Hello there, Eve2019.

 

We're unable to enter a negative amount alone when writing a check for it only accepts at least zero as the lowest amount. Thus, you'll need to include a positive amount on a different line.

 

On the other note, when you enter the adjustment from the Make Deposit screen, you'll have to enter the $94 and the -$4 on a different column. My colleague Jane_D provided a detailed instructions on the whole process. I've also attached a screenshot for your reference.
 

 

Also, I have here some resources that will help you be more familiar with the features and functions of QuickBooks Desktop: 

Don't hesitate to get back to me if you have other questions with the process and I'd be happy to assist.

View solution in original post

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