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DIETRYING
Level 4

Check clears for wrong amount at ATM deposit

Hi, I made an ATM deposit with 2 checks. The ATM read one of the checks incorrectly, it was $512, and it was incorrectly read as $572. So there is a $60 difference now in my banking account. The bank corrected it by taking $60 from my account. My question is, how do I fix it in my QBO? I already made a deposit in QBO for the incorrect amount. Please help!

5 Comments 5
Candice C
QuickBooks Team

Check clears for wrong amount at ATM deposit

Good morning, @DIETRYING

 

It's great to see you back in the Community. I can share how you can fix this issue in your QuickBooks Online account. 

 

The best route would be to edit the deposit for the correct amount. 

 

Locate the deposit and edit the information needed. After that, all you need to do is Save the transaction. 

 

From there, you'll be able to match and categorize them. For future reference, here's a guide that could give you more details on bank deposits.

 

I hope this helps and does the trick. If you run into any trouble along the way, just let me know. I'm only a comment away. Have a great day! 

DIETRYING
Level 4

Check clears for wrong amount at ATM deposit

Thank you for the reply however, that won't fix my problem. If I edit the deposit, it will still be for the wrong amount. 

There were 2 checks in the deposit, $512 and $430. The ATM read the $512 for $572, so the total deposit was incorrect. Does that help in explaining? Thanks 

MorganB
Content Leader

Check clears for wrong amount at ATM deposit

Thanks for that info, stephengroeschel.

 

To fix the incorrect deposit, I recommend deleting the deposit and then recreating it for the correct amount. Here's how:

 

1. Click the Banking tab and make sure the correct bank account is highlighted blue at the top of the page.

2. Select the blue Go to Register link.

3. Locate the deposit and click to show options.

4. Choose Delete then Yes to confirm.

 

The incorrect amount will then be erased and you can go back and enter the correct amount. It's always a good idea to double check with an accountant when completing these types of actions in your QuickBooks account.

 

You know where to come if you have any other questions. Take care!

DIETRYING
Level 4

Check clears for wrong amount at ATM deposit

Well, when the bank caught the error, they took out $60 out of my account to correct it, so how do I categorize that charge?

MaryLandT
Moderator

Check clears for wrong amount at ATM deposit

Allow me to step in and share how to categorize the charge take out from your bank, stephengroeschel.

 

You can open the deposit and add a bank fee to deduct the $60 amount. When you're on the Bank Deposit screen, go down to the Add funds to this deposit section. 

 

If you don't have one already, create an expense account and call it something easy to remember, like "Bank Charges."

 

Here's how to add the fee while you're on the bank deposit window.

 

  1. Scroll down to the Add funds to this deposit section.
  2. Enter the fee as a line item.
  3. Select who the fee was from.
  4. Select Bank Charges from the Account ▼ drop-down.
  5. Enter the amount fee as a negative number (-$60).
  6. Review the deposit total with the bank fee.
  7. Click Save and close

 

You can also check out this article for an alternative to the above method: Record and make bank deposits in QuickBooks Online.

 

Let me know if you have any other questions by using the Reply option below. I'll be here to help.

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